Handelsbanken Fonder AB Sells 43,569 Shares of Block, Inc. $XYZ

Handelsbanken Fonder AB lessened its position in shares of Block, Inc. (NYSE:XYZ) by 22.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 150,402 shares of the technology company’s stock after selling 43,569 shares during the quarter. Handelsbanken Fonder AB’s holdings in Block were worth $11,431,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Elevation Wealth Partners LLC grew its holdings in shares of Block by 301.0% in 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. Global Assets Advisory LLC bought a new stake in Block in the first quarter worth $31,000. Rachor Investment Advisory Services LLC purchased a new stake in Block during the fourth quarter valued at $32,000. Cary Street Partners Investment Advisory LLC raised its stake in Block by 57.6% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company’s stock valued at $40,000 after purchasing an additional 223 shares in the last quarter. Finally, Osbon Capital Management LLC bought a new position in Block during the fourth quarter valued at $43,000. Institutional investors own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on XYZ. William Blair cut shares of Block to a “market perform” rating in a research note on Tuesday, June 30th. UBS Group increased their price target on shares of Block from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Jefferies Financial Group began coverage on Block in a research report on Tuesday, June 30th. They issued a “hold” rating for the company. Canaccord Genuity Group boosted their price objective on Block from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Rosenblatt Securities set a $100.00 price objective on Block in a research report on Tuesday, June 30th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.23.

Insider Activity

In other news, Director Anthony Mathew Eisen sold 6,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $78.47, for a total value of $470,820.00. Following the transaction, the director directly owned 1,548,672 shares in the company, valued at approximately $121,524,291.84. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 dated Wednesday, August 5th. The stock was sold at an average price of $85.85, for a total transaction of $770,160.35. Following the completion of the transaction, the chief financial officer owned 454,275 shares in the company, valued at $38,999,508.75. This represents a 1.94% 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. Over the last ninety days, insiders sold 447,179 shares of company stock valued at $35,014,655. 11.37% of the stock is currently owned by company insiders.

Block Trading Up 6.2%

XYZ stock opened at $83.16 on Friday. Block, Inc. has a twelve month low of $48.21 and a twelve month high of $86.75. The stock has a market capitalization of $49.50 billion, a price-to-earnings ratio of 148.50, a price-to-earnings-growth ratio of 0.94 and a beta of 2.53. 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 firm’s fifty day simple moving average is $77.28 and its two-hundred day simple moving average is $68.47.

Block (NYSE:XYZ) last released its earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.54. The firm 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%. Block’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $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. As a group, analysts anticipate that Block, Inc. will post 2.5 earnings per share for the current year.

Block Company 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.