50,000 Shares in Block, Inc. $XYZ Bought by Chase Investment Counsel Corp

Chase Investment Counsel Corp purchased a new stake in Block, Inc. (NYSE:XYZ) in the 2nd quarter, HoldingsChannel reports. The fund purchased 50,000 shares of the technology company’s stock, valued at approximately $1,904,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of XYZ. Baird Financial Group Inc. bought a new position in shares of Block in the second quarter valued at $1,866,000. Brown Advisory Inc. acquired a new stake in shares of Block in the 2nd quarter worth about $516,000. Jump Financial LLC acquired a new stake in shares of Block in the 2nd quarter worth about $385,000. Federated Hermes Inc. acquired a new stake in shares of Block in the 2nd quarter worth about $53,000. Finally, Cerity Partners LLC bought a new position in Block in the 2nd quarter valued at about $1,861,000. Institutional investors own 70.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on XYZ shares. Truist Financial lifted their price target on Block from $82.00 to $93.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Piper Sandler raised their target price on Block from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Zacks Research lowered Block from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. UBS Group lifted their target price on Block from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Craig Hallum initiated coverage on Block in a report on Tuesday, June 30th. They set a “buy” rating for the company. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.23.

Block Price Performance

Shares of NYSE XYZ opened at $82.73 on Monday. The company has a market capitalization of $49.70 billion, a PE ratio of 147.73, a PEG ratio of 0.93 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 stock’s 50 day moving average price is $77.57 and its 200-day moving average price is $68.59. Block, Inc. has a twelve month low of $48.21 and a twelve month high of $86.75.

Block (NYSE:XYZ) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.54. The company had revenue of $6.62 billion during the quarter. Block had a return on equity of 8.10% and a net margin of 1.43%.The business’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 earnings per share. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. On average, equities analysts anticipate that Block, Inc. will post 2.67 EPS for the current year.

Insider Buying and Selling at Block

In other news, insider Brian Grassadonia sold 43,348 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $80.00, for a total transaction of $3,467,840.00. Following the completion of the sale, the insider directly owned 557,654 shares of the company’s stock, valued at $44,612,320. This trade represents a 7.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 Block stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $85.85, for a total value of $770,160.35. Following the sale, the chief financial officer owned 454,275 shares in the company, valued at $38,999,508.75. The trade was 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. Insiders sold 459,179 shares of company stock worth $35,983,595 in the last quarter. 11.37% of the stock is currently owned by company insiders.

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.