NewEdge Wealth LLC Purchases Shares of 17,388 Block, Inc. $XYZ

NewEdge Wealth LLC purchased a new stake in shares of Block, Inc. (NYSE:XYZ) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 17,388 shares of the technology company’s stock, valued at approximately $662,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Elevation Wealth Partners LLC increased its position 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 worth $30,000 after purchasing an additional 292 shares during the last quarter. Global Assets Advisory LLC bought a new stake in Block during the first quarter valued at approximately $31,000. Rachor Investment Advisory Services LLC bought a new stake in Block during the fourth quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC lifted its position 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 during the last quarter. Finally, Osbon Capital Management LLC purchased a new position in Block in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Analysts Set New Price Targets

XYZ has been the topic of a number of research analyst reports. TD Cowen increased their price target on shares of Block from $101.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Robert W. Baird set a $105.00 price objective on shares of Block in a report on Thursday, August 6th. UBS Group upped their target price on shares of Block from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. BMO Capital Markets increased their target price on Block from $78.00 to $85.00 and gave the company a “market perform” rating in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada raised their price target on Block from $93.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.23.

Insider Buying and Selling

In other Block news, CFO Amrita Ahuja sold 8,971 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $85.85, for a total value of $770,160.35. Following the completion of the sale, the chief financial officer directly owned 454,275 shares of the company’s stock, valued at $38,999,508.75. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Mathew Eisen sold 135,750 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $76.81, for a total transaction of $10,426,957.50. Following the sale, the director owned 2,032,990 shares of the company’s stock, valued at approximately $156,153,961.90. The trade was a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 461,070 shares of company stock worth $36,261,272 in the last 90 days. 11.37% of the stock is owned by company insiders.

Block Trading Up 2.6%

XYZ stock opened at $82.15 on Friday. The company has a market capitalization of $49.35 billion, a PE ratio of 146.70, a price-to-earnings-growth ratio of 0.92 and a beta of 2.53. Block, Inc. has a one year low of $48.21 and a one year high of $86.75. The company’s 50 day moving average price is $78.74 and its two-hundred day moving average price is $69.16. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21.

Block (NYSE:XYZ) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.54. Block had a net margin of 1.43% and a return on equity of 8.10%. The firm had revenue of $6.62 billion during the quarter. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company’s 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. As a group, analysts predict that Block, Inc. will post 2.69 earnings per share 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.