Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Block, Inc. (NYSE:XYZ – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 14,237 shares of the technology company’s stock, valued at approximately $927,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cibc World Market Inc. increased its position in shares of Block by 24.0% during the third quarter. Cibc World Market Inc. now owns 179,271 shares of the technology company’s stock valued at $12,956,000 after buying an additional 34,678 shares during the period. New York Life Investment Management LLC purchased a new position in shares of Block during the third quarter valued at about $5,400,000. Principal Financial Group Inc. increased its position in shares of Block by 2,385.3% during the third quarter. Principal Financial Group Inc. now owns 612,358 shares of the technology company’s stock valued at $44,255,000 after buying an additional 587,719 shares during the period. Hartford Investment Management Co. purchased a new position in shares of Block during the third quarter valued at about $2,323,000. Finally, Mutual of America Capital Management LLC purchased a new position in shares of Block during the third quarter valued at about $4,305,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. Zacks Research lowered shares of Block from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Cantor Fitzgerald boosted their price objective on shares of Block from $78.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. BMO Capital Markets assumed coverage on shares of Block in a research note on Tuesday, April 21st. They set a “market perform” rating and a $74.00 price objective on the stock. TD Cowen boosted their price objective on shares of Block from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Arete Research raised shares of Block from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.94.
Insider Activity
In other news, CFO Amrita Ahuja sold 30,919 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $75.00, for a total value of $2,318,925.00. Following the transaction, the chief financial officer 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 sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Owen Britton Jennings sold 3,555 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $63.41, for a total transaction of $225,422.55. Following the completion of the transaction, the insider owned 231,262 shares in the company, valued at approximately $14,664,323.42. This represents a 1.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 58,518 shares of company stock worth $4,000,598. Corporate insiders own 11.37% of the company’s stock.
Block Trading Down 0.9%
Shares of NYSE XYZ opened at $68.05 on Friday. The firm’s 50 day moving average price is $65.73 and its 200-day moving average price is $63.78. The company has a market cap of $40.50 billion, a PE ratio of 53.17, a P/E/G ratio of 0.89 and a beta of 2.57. Block, Inc. has a 52-week low of $48.21 and a 52-week high of $82.50. 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 (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, topping the consensus estimate of $0.30 by $0.55. The firm had revenue of $6.06 billion for the quarter. Block had a net margin of 3.30% and a return on equity of 7.02%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.56 EPS. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. On average, equities research analysts expect that Block, Inc. will post 2.4 EPS for the current fiscal year.
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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