Tiger Global Management LLC Sells 2,364,840 Shares of Block, Inc. $XYZ

Key Points

• Tiger Global Management reduced its Block stake by 37.2% in the first quarter, selling 2,364,840 shares and leaving it with 4 million shares worth about $240.7 million.
• Block insiders have also been selling: CFO Amrita Ahuja and Director Anthony Mathew Eisen both trimmed their holdings, and insiders sold 323,300 shares over the last 90 days.
• Analysts remain largely positive on Block, with a consensus rating of “Moderate Buy” and an average price target of $89.84, while the stock recently traded around $77.19 after rising 0.9%.

Tiger Global Management LLC cut its holdings in shares of Block, Inc. (NYSE:XYZ - Free Report) by 37.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,000,000 shares of the technology company's stock after selling 2,364,840 shares during the period. Block makes up 1.1% of Tiger Global Management LLC's portfolio, making the stock its 20th biggest position. Tiger Global Management LLC owned about 0.67% of Block worth $240,720,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Capital World Investors boosted its holdings in shares of Block by 41.8% during the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company's stock valued at $1,042,966,000 after acquiring an additional 4,727,217 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Block by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 14,406,899 shares of the technology company's stock worth $934,121,000 after acquiring an additional 67,560 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Block during the second quarter valued at approximately $535,305,000. Norges Bank purchased a new position in shares of Block during the fourth quarter valued at approximately $484,387,000. Finally, Viking Global Investors LP bought a new position in Block during the second quarter valued at approximately $368,213,000. 70.44% of the stock is currently owned by institutional investors.

Insider Activity at Block

In other Block news, CFO Amrita Ahuja sold 8,093 shares of Block stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $75.00, for a total value of $606,975.00. Following the sale, the chief financial officer directly owned 463,246 shares in the company, valued at approximately $34,743,450. The trade was a 1.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 stock was sold at an average price of $76.81, for a total transaction of $10,426,957.50. Following the completion of the sale, the director owned 2,032,990 shares in the company, valued at approximately $156,153,961.90. The trade was a 6.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 323,300 shares of company stock valued at $24,742,756. Corporate insiders own 11.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of Block from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 10th. The Goldman Sachs Group upgraded shares of Block from a "buy" rating to a "buy" rating in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft upgraded Block to a "buy" rating in a research note on Tuesday, June 30th. Weiss Ratings raised Block from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, June 1st. Finally, Truist Financial upped their price objective on Block from $82.00 to $93.00 and gave the company a "buy" rating in a research report on Friday. Four research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $89.84.

Block Stock Up 0.9%

XYZ opened at $77.19 on Friday. The firm's 50 day simple moving average is $74.44 and its two-hundred day simple moving average is $67.07. The company has a market capitalization of $45.94 billion, a PE ratio of 60.31, a PEG ratio of 0.97 and a beta of 2.54. Block, Inc. has a 1-year low of $48.21 and a 1-year high of $84.08. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ - Get Free Report) last issued its earnings results on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.55. Block had a return on equity of 7.02% and a net margin of 3.30%.The company had revenue of $6.06 billion for the quarter. During the same period last year, the business posted $0.56 EPS. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. 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 forecast that Block, Inc. will post 2.48 EPS for the current year.

About Block

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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