Odyssean LLC Purchases 20,541 Shares of Block, Inc. $XYZ

Odyssean LLC increased its holdings in Block, Inc. (NYSE:XYZ) by 92.4% in the second quarter, Holdings Channel reports. The fund owned 42,762 shares of the technology company’s stock after purchasing an additional 20,541 shares during the quarter. Block accounts for approximately 0.5% of Odyssean LLC’s portfolio, making the stock its 23rd largest position. Odyssean LLC’s holdings in Block were worth $3,250,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baird Financial Group Inc. purchased a new stake in shares of Block in the 2nd quarter worth approximately $1,866,000. Brown Advisory Inc. purchased a new position in Block during the second quarter valued at approximately $516,000. Jump Financial LLC purchased a new position in Block during the second quarter valued at approximately $385,000. Federated Hermes Inc. bought a new position in Block in the second quarter worth approximately $53,000. Finally, Cerity Partners LLC bought a new position in Block in the second quarter worth approximately $1,861,000. 70.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

XYZ has been the topic of several recent research reports. Clear Str raised Block to a “hold” rating in a research report on Thursday, July 16th. Citigroup boosted their price target on Block from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Royal Bank Of Canada raised their price objective on Block from $93.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 target price on shares of Block in a research note on Thursday, August 6th. Finally, Monness Crespi & Hardt boosted their target price on shares of Block from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.42.

Block Stock Performance

Shares of XYZ opened at $82.83 on Friday. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. The firm has a market cap of $49.76 billion, a PE ratio of 147.91, a P/E/G ratio of 0.88 and a beta of 2.52. Block, Inc. has a 12 month low of $48.21 and a 12 month high of $86.92. The stock has a fifty day moving average price of $80.35 and a 200-day moving average price of $71.08.

Block (NYSE:XYZ) last announced its 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. Block had a return on equity of 8.10% and a net margin of 1.43%.The company 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 company’s quarterly 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. Equities research analysts predict that Block, Inc. will post 2.72 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Brian Grassadonia sold 43,348 shares of the stock in a transaction that occurred 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 directly owned 557,654 shares of the company’s stock, valued at $44,612,320. This trade represents a 7.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Eisen sold 41,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $85.85, for a total transaction of $3,519,850.00. Following the sale, the director directly owned 1,566,672 shares in the company, valued at approximately $134,498,791.20. This represents a 2.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 384,006 shares of company stock worth $30,695,321 over the last 90 days. 11.37% of the stock is currently owned by corporate insiders.

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.