Commerce Bank Takes Position in Block, Inc. $XYZ

Commerce Bank acquired a new stake in Block, Inc. (NYSE:XYZ) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 44,559 shares of the technology company’s stock, valued at approximately $1,697,000.

Other hedge funds have also added to or reduced their stakes in the company. Elevation Wealth Partners LLC increased its position in Block by 301.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company’s stock valued at $30,000 after acquiring an additional 292 shares during the period. Rachor Investment Advisory Services LLC bought a new position in shares of Block during the fourth quarter valued at $32,000. Global Assets Advisory LLC acquired a new position in shares of Block during the first quarter worth $31,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Block by 57.6% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company’s stock worth $40,000 after purchasing an additional 223 shares during the period. Finally, Darwin Wealth Management LLC bought a new stake in shares of Block in the second quarter worth $43,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Block

In related news, Director Anthony Mathew Eisen sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $81.48, for a total transaction of $488,880.00. Following the transaction, the director directly owned 1,488,672 shares of the company’s stock, valued at approximately $121,296,994.56. This represents a 0.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 9,511 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 423,262 shares in the company, valued at approximately $34,889,486.66. This trade represents a 2.20% 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. Over the last quarter, insiders sold 495,756 shares of company stock valued at $39,090,259. 11.37% of the stock is currently owned by corporate insiders.

Block Trading Up 1.7%

NYSE XYZ opened at $82.73 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.21 and a quick ratio of 2.21. Block, Inc. has a one year low of $48.21 and a one year high of $86.75. The business has a 50 day simple moving average of $79.05 and a 200 day simple moving average of $69.58. The stock has a market capitalization of $49.70 billion, a P/E ratio of 147.72, a P/E/G ratio of 0.91 and a beta of 2.53.

Block (NYSE:XYZ) last issued its earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.54. Block had a net margin of 1.43% and a return on equity of 8.10%. The business had revenue of $6.62 billion for the quarter. During the same period in the prior year, the company earned $0.62 earnings per share. The firm’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. Research analysts expect that Block, Inc. will post 2.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. TD Cowen increased their price objective on Block from $101.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Robert W. Baird set a $105.00 target price on Block in a report on Thursday, August 6th. BTIG Research upped their price target on Block from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. UBS Group increased their price target on Block from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Susquehanna lifted their price objective on Block from $90.00 to $100.00 and gave the stock a “positive” rating in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Block presently has an average rating of “Moderate Buy” and an average target price of $95.84.

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.