Syon Capital LLC Decreases Stock Position in Block, Inc. $XYZ

Key Points

• Syon Capital LLC cut its Block stake by 8.6% in the fourth quarter, selling 33,958 shares and leaving it with 358,656 shares valued at about $23.3 million.
• Block shares were down 3.7% to $68.25, and the stock has traded between $48.21 and $82.50 over the past year.
• Block reported better-than-expected earnings for the latest quarter, with EPS of $0.85 versus $0.30 expected, while analysts currently rate the stock a consensus Moderate Buy with a $85.12 target price.

Syon Capital LLC reduced its position in Block, Inc. (NYSE:XYZ - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 358,656 shares of the technology company's stock after selling 33,958 shares during the period. Block comprises approximately 1.2% of Syon Capital LLC's holdings, making the stock its 23rd largest position. Syon Capital LLC owned approximately 0.06% of Block worth $23,345,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Cibc World Market Inc. raised its holdings in Block by 24.0% in the 3rd quarter. Cibc World Market Inc. now owns 179,271 shares of the technology company's stock worth $12,956,000 after acquiring an additional 34,678 shares during the last quarter. New York Life Investment Management LLC purchased a new position in Block in the 3rd quarter worth approximately $5,400,000. Vanguard Group Inc. raised its holdings in Block by 23.1% in the 3rd quarter. Vanguard Group Inc. now owns 67,626,485 shares of the technology company's stock worth $4,887,366,000 after acquiring an additional 12,709,824 shares during the last quarter. Inceptionr LLC raised its holdings in Block by 455.1% in the 3rd quarter. Inceptionr LLC now owns 19,480 shares of the technology company's stock worth $1,408,000 after acquiring an additional 15,971 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Block by 145.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 55,396 shares of the technology company's stock worth $4,003,000 after acquiring an additional 32,865 shares during the last quarter. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Trading Down 3.7%

Shares of XYZ stock opened at $68.25 on Friday. Block, Inc. has a 1 year low of $48.21 and a 1 year high of $82.50. The firm has a fifty day moving average price of $68.17 and a 200-day moving average price of $64.06. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.99 and a quick ratio of 1.99. The company has a market cap of $40.62 billion, a price-to-earnings ratio of 53.32, a PEG ratio of 0.88 and a beta of 2.56.

Block (NYSE:XYZ - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.55. Block had a net margin of 3.30% and a return on equity of 7.02%. The firm had revenue of $6.06 billion during the quarter. During the same period in the previous year, the firm earned $0.56 EPS. The company's revenue was up 4.9% on a year-over-year basis. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. As a group, equities analysts predict that Block, Inc. will post 2.42 earnings per share for the current year.

Insider Activity

In other news, insider Chrysty Esperanza sold 3,000 shares of the business's stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $75.00, for a total transaction of $225,000.00. Following the completion of the sale, the insider owned 268,169 shares of the company's stock, valued at $20,112,675. The trade was a 1.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Mathew Eisen sold 135,750 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $76.81, for a total transaction of $10,426,957.50. Following the sale, the director directly owned 2,032,990 shares of the company's stock, valued at approximately $156,153,961.90. The trade was a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 181,680 shares of company stock worth $13,774,881. Company insiders own 11.37% of the company's stock.

Wall Street Analysts Forecast Growth

XYZ has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Block from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of Block from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, June 1st. Oppenheimer reaffirmed an "outperform" rating and issued a $91.00 target price on shares of Block in a research report on Friday, May 8th. HSBC raised shares of Block from a "hold" rating to a "buy" rating and lifted their target price for the stock from $70.00 to $77.00 in a research report on Tuesday, March 3rd. Finally, Raymond James Financial raised shares of Block to a "moderate buy" rating in a research report on Friday, February 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Block presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.12.

Block Company Profile

Block NYSE: XYZ is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block's portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.

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