Globeflex Capital L P Takes Position in Block, Inc. $XYZ

Globeflex Capital L P purchased a new stake in Block, Inc. (NYSE:XYZ) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,989 shares of the technology company’s stock, valued at approximately $911,000.

Several other institutional investors also recently bought and sold shares of XYZ. BlackRock Inc. purchased a new stake in shares of Block in the 2nd quarter worth $621,703,000. Capital World Investors lifted its stake in Block by 41.8% in the fourth quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock worth $1,042,966,000 after acquiring an additional 4,727,217 shares during the period. Geode Capital Management LLC grew its holdings in Block by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 14,406,899 shares of the technology company’s stock worth $934,121,000 after acquiring an additional 67,560 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in Block during the 2nd quarter valued at about $535,305,000. Finally, Norges Bank bought a new stake in shares of Block in the 4th quarter valued at about $484,387,000. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Stock Down 1.0%

Block stock opened at $81.38 on Tuesday. Block, Inc. has a 1-year low of $48.21 and a 1-year high of $86.75. The business has a fifty day moving average price of $78.89 and a 200-day moving average price of $69.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.21 and a quick ratio of 2.21. The stock has a market capitalization of $48.89 billion, a price-to-earnings ratio of 145.31, a PEG ratio of 0.92 and a beta of 2.53.

Block (NYSE:XYZ) last released 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. Block had a return on equity of 8.10% and a net margin of 1.43%.The company had revenue of $6.62 billion during the quarter. During the same quarter last year, the business posted $0.62 earnings per share. The company’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. Equities research analysts forecast that Block, Inc. will post 2.69 EPS for the current fiscal year.

Insider Activity at Block

In other news, Director Anthony Mathew Eisen sold 6,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $81.48, for a total transaction of $488,880.00. Following the sale, the director directly owned 1,488,672 shares of the company’s stock, valued at $121,296,994.56. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 9,511 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $82.43, for a total value of $783,991.73. Following the completion of the transaction, the chief financial officer owned 423,262 shares of the company’s stock, valued at $34,889,486.66. This trade represents a 2.20% decrease in their position. 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 a total of 495,756 shares of company stock worth $39,090,259 in the last quarter. 11.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on XYZ. Canaccord Genuity Group increased their price objective on shares of Block from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Jefferies Financial Group assumed coverage on Block in a report on Tuesday, June 30th. They issued a “hold” rating on the stock. Argus upped their price objective on Block from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Rosenblatt Securities set a $100.00 price objective on Block in a research report on Tuesday, June 30th. Finally, BTIG Research boosted their target price on shares of Block from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $95.23.

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.