Wealthfront Advisers LLC Takes Position in Block, Inc. $XYZ

Wealthfront Advisers LLC purchased a new stake in Block, Inc. (NYSE:XYZ) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 16,720 shares of the technology company’s stock, valued at approximately $637,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Block during the second quarter worth approximately $621,703,000. Capital World Investors lifted its stake in shares of Block by 41.8% in the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock valued at $1,042,966,000 after purchasing an additional 4,727,217 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Block by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 14,406,899 shares of the technology company’s stock worth $934,121,000 after purchasing an additional 67,560 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Block in the 2nd quarter worth approximately $535,305,000. Finally, Norges Bank bought a new position in shares of Block during the 4th quarter valued at approximately $484,387,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Trading Up 2.6%

Shares of NYSE XYZ opened at $82.15 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21. The business’s 50 day moving average price is $78.74 and its 200-day moving average price is $69.16. Block, Inc. has a fifty-two week low of $48.21 and a fifty-two week high of $86.75. The company has a market cap of $49.35 billion, a price-to-earnings ratio of 146.70, a PEG ratio of 0.90 and a beta of 2.53.

Block (NYSE:XYZ) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.62 billion during the quarter. During the same period in the prior year, the business posted $0.62 earnings per share. Block’s revenue was up 9.3% on a year-over-year basis. 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, sell-side analysts expect that Block, Inc. will post 2.69 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on XYZ shares. Monness Crespi & Hardt increased their price target on Block from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 7th. Morgan Stanley reaffirmed an “overweight” rating on shares of Block in a research note on Wednesday, August 5th. Needham & Company LLC boosted their price objective on shares of Block from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. BTIG Research increased their target price on shares of Block from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Block to a “buy” rating in a report on Tuesday, June 30th. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.23.

Insiders Place Their Bets

In other news, 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 transaction of $770,160.35. Following the completion of the sale, the chief financial officer directly owned 454,275 shares in the company, valued at approximately $38,999,508.75. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 25,908 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $81.64, for a total transaction of $2,115,129.12. Following the sale, the insider directly owned 531,746 shares of the company’s stock, valued at $43,411,743.44. This represents a 4.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 461,070 shares of company stock worth $36,261,272 over the last quarter. Company insiders own 11.37% of the company’s stock.

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.