Wealthfront Advisers LLC Makes New $637,000 Investment in Block, Inc. $XYZ

Wealthfront Advisers LLC purchased a new position in shares of Block, Inc. (NYSE:XYZ - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,720 shares of the technology company's stock, valued at approximately $637,000.

A number of other hedge funds have also recently modified their holdings of XYZ. Elevation Wealth Partners LLC lifted its position in Block by 301.0% during the second quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company's stock valued at $30,000 after purchasing an additional 292 shares in the last quarter. Rachor Investment Advisory Services LLC purchased a new stake in Block in the fourth quarter worth about $32,000. Global Assets Advisory LLC purchased a new stake in Block in the first quarter worth about $31,000. Cary Street Partners Investment Advisory LLC raised its stake in shares of Block by 57.6% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company's stock worth $40,000 after buying an additional 223 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in shares of Block in the second quarter worth about $43,000. Institutional investors own 70.44% of the company's stock.

Insider Activity at Block

In other news, Director Anthony Mathew Eisen sold 135,750 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 2,032,990 shares of the company's stock, valued at $156,153,961.90. This represents a 6.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amrita Ahuja sold 8,971 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $85.85, for a total value of $770,160.35. Following the transaction, the chief financial officer owned 454,275 shares of the company's stock, valued at $38,999,508.75. This represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 461,070 shares of company stock valued at $36,261,272. Insiders own 11.37% of the company's stock.

Block Stock Up 2.6%

Shares of XYZ stock opened at $82.15 on Friday. The stock has a market cap of $49.35 billion, a P/E ratio of 146.70, a PEG ratio of 0.90 and a beta of 2.53. Block, Inc. has a 52 week low of $48.21 and a 52 week high of $86.75. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26. The company's fifty day simple moving average is $78.74 and its two-hundred day simple moving average is $69.16.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.48 by $0.54. The business had revenue of $6.62 billion during the quarter. Block had a net margin of 1.43% and a return on equity of 8.10%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. Analysts predict that Block, Inc. will post 2.69 EPS for the current fiscal year.

Analyst Ratings Changes

XYZ has been the subject of several analyst reports. Royal Bank Of Canada increased their target price on shares of Block from $93.00 to $95.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Canaccord Genuity Group upped their price objective on Block from $85.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. TD Cowen lifted their target price on Block from $101.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Rosenblatt Securities set a $100.00 price target on Block in a report on Tuesday, June 30th. Finally, Piper Sandler upped their price target on Block from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Block has an average rating of "Moderate Buy" and an average price target of $95.23.

Block 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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