Plato Investment Management Ltd acquired a new stake in Block, Inc. (NYSE:XYZ – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,782 shares of the technology company’s stock, valued at approximately $588,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors lifted its position 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 worth $1,042,966,000 after buying an additional 4,727,217 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Block by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 14,406,899 shares of the technology company’s stock valued at $934,121,000 after buying an additional 67,560 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Block in the 2nd quarter valued at $535,305,000. Norges Bank acquired a new stake in Block during the 4th quarter worth $484,387,000. Finally, Tiger Global Management LLC raised its stake in Block by 43.9% during the 4th quarter. Tiger Global Management LLC now owns 6,364,840 shares of the technology company’s stock worth $414,287,000 after acquiring an additional 1,941,528 shares in the last quarter. 70.44% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Block
In other Block news, Director Anthony Mathew Eisen sold 6,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $82.87, for a total transaction of $497,220.00. Following the sale, the director directly owned 1,524,672 shares in the company, valued at approximately $126,349,568.64. The trade was a 0.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 8,971 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $85.85, for a total transaction of $770,160.35. Following the transaction, the chief financial officer directly owned 454,275 shares in the company, valued at approximately $38,999,508.75. This trade 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 quarter, insiders sold 459,135 shares of company stock valued at $35,980,471. 11.37% of the stock is owned by company insiders.
Block Stock Performance
Block (NYSE:XYZ – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.48 by $0.54. Block had a return on equity of 8.10% and a net margin of 1.43%.The business had revenue of $6.62 billion during the quarter. During the same period in the prior year, the business earned $0.62 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. Research analysts expect that Block, Inc. will post 2.69 EPS for the current year.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Clear Str upgraded shares of Block to a “hold” rating in a research note on Thursday, July 16th. Argus lifted their target price on Block from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. BTIG Research boosted their target price on Block from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Barclays began coverage on Block in a research report on Tuesday, July 7th. They issued an “overweight” rating and a $100.00 target price for the company. Finally, The Goldman Sachs Group upgraded Block from a “buy” rating to a “buy” rating in a research note on Tuesday, June 30th. Three research 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. Based on data from MarketBeat.com, Block presently has an average rating of “Moderate Buy” and an average target price of $95.23.
Check Out Our Latest Report on Block
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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