Wellington Management Group LLP Sells 197,585 Shares of Block, Inc. $XYZ

Wellington Management Group LLP lowered its holdings in Block, Inc. (NYSE:XYZ) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,666,205 shares of the technology company’s stock after selling 197,585 shares during the period. Wellington Management Group LLP owned about 0.78% of Block worth $354,632,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Block during the 2nd quarter valued at $621,703,000. Ameriprise Financial Inc. purchased a new position in shares of Block in the 2nd quarter worth about $535,305,000. Norges Bank bought a new position in Block during the fourth quarter valued at about $484,387,000. Viking Global Investors LP bought a new position in Block during the second quarter valued at about $368,213,000. Finally, Capital World Investors increased its holdings in Block by 41.8% during the fourth 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. Institutional investors own 70.44% of the company’s stock.

Block Price Performance

Shares of NYSE:XYZ opened at $83.58 on Monday. 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 has a market capitalization of $50.21 billion, a PE ratio of 149.25, a P/E/G ratio of 0.93 and a beta of 2.53. Block, Inc. has a twelve month low of $48.21 and a twelve month high of $86.92. The company has a 50-day moving average price of $79.64 and a two-hundred day moving average price of $70.18.

Block (NYSE:XYZ) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.54. The company had revenue of $6.62 billion for the quarter. Block had a net margin of 1.43% and a return on equity of 8.10%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $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. Equities analysts forecast that Block, Inc. will post 2.72 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Block from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. KeyCorp raised their price target on shares of Block from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. BTIG Research lifted their price target on shares of Block from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wall Street Zen upgraded Block from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Zacks Research lowered Block from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.84.

Insider Activity at Block

In other news, Director Anthony Mathew Eisen sold 41,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $85.85, for a total value of $3,519,850.00. Following the completion of the transaction, the director directly owned 1,566,672 shares of the company’s stock, valued at $134,498,791.20. This trade represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 43,348 shares of Block stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $80.00, for a total value of $3,467,840.00. Following the completion of the transaction, the insider owned 557,654 shares of the company’s stock, valued at approximately $44,612,320. This trade represents a 7.21% 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. In the last ninety days, insiders sold 366,006 shares of company stock worth $29,155,301. Corporate insiders own 11.37% of the company’s stock.

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.