Westpac Banking Corp Has $230,000 Position in Block, Inc. $XYZ

Key Points

• Westpac Banking Corp sharply cut its Block stake by 92.6% in the fourth quarter, leaving it with 3,529 shares worth about $230,000.
• Block’s latest quarterly results beat expectations, with EPS of $0.85 versus the $0.30 consensus and revenue of $6.06 billion, up 4.9% year over year.
• Insider selling was notable, including Director Anthony Mathew Eisen selling 135,750 shares and CFO Amrita Ahuja selling 30,919 shares; analysts still rate the stock a Moderate Buy with an average price target of $85.12.

Westpac Banking Corp cut its position in shares of Block, Inc. (NYSE:XYZ - Free Report) by 92.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,529 shares of the technology company's stock after selling 43,935 shares during the quarter. Westpac Banking Corp's holdings in Block were worth $230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC acquired a new stake in Block in the 3rd quarter valued at about $28,000. Sound Income Strategies LLC raised its position in shares of Block by 57.1% in the fourth quarter. Sound Income Strategies LLC now owns 443 shares of the technology company's stock valued at $29,000 after purchasing an additional 161 shares during the period. Rachor Investment Advisory Services LLC bought a new position in shares of Block in the fourth quarter valued at about $32,000. Rothschild Investment LLC lifted its stake in shares of Block by 59.7% during the 3rd quarter. Rothschild Investment LLC now owns 495 shares of the technology company's stock worth $36,000 after buying an additional 185 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Block by 59.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 528 shares of the technology company's stock worth $38,000 after buying an additional 196 shares during the period. Institutional investors and hedge funds own 70.44% of the company's stock.

Insider Activity at Block

In other news, Director Anthony Mathew Eisen sold 135,750 shares of Block stock in a transaction on Monday, June 1st. The shares were sold at an average price of $76.81, for a total value of $10,426,957.50. Following the completion of the sale, the director owned 2,032,990 shares in the company, valued at $156,153,961.90. The trade was a 6.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amrita Ahuja sold 30,919 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $75.00, for a total transaction of $2,318,925.00. Following the transaction, the chief financial officer directly owned 500,816 shares in the company, valued at approximately $37,561,200. This represents a 5.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 181,680 shares of company stock worth $13,774,881 over the last quarter. 11.37% of the stock is owned by company insiders.

Block Stock Performance

XYZ opened at $70.90 on Friday. The business's fifty day moving average is $68.00 and its 200-day moving average is $64.03. The firm has a market cap of $42.20 billion, a P/E ratio of 55.39, a price-to-earnings-growth ratio of 0.90 and a beta of 2.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.99 and a current ratio of 1.99. Block, Inc. has a 52-week low of $48.21 and a 52-week high of $82.50.

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 for the quarter, topping the consensus estimate of $0.30 by $0.55. Block had a net margin of 3.30% and a return on equity of 7.02%. The company had revenue of $6.06 billion for the quarter. During the same period in the prior year, the firm earned $0.56 EPS. The business'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. Sell-side analysts expect that Block, Inc. will post 2.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on XYZ. Arete Research raised shares of Block from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 3rd. Zacks Research cut Block from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 12th. Bank of America decreased their target price on Block from $85.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, March 25th. Needham & Company LLC lifted their price target on Block from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Finally, BTIG Research restated a "buy" rating and issued a $90.00 price target on shares of Block in a research note on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Block presently has an average rating of "Moderate Buy" and an average price target of $85.12.

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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