Formidable Asset Management LLC Makes New $1.19 Million Investment in Block, Inc. $XYZ

Formidable Asset Management LLC acquired a new position in shares of Block, Inc. (NYSE:XYZ) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 15,652 shares of the technology company’s stock, valued at approximately $1,190,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of XYZ. BlackRock Inc. acquired a new position in Block in the second quarter valued at about $621,703,000. Arrowstreet Capital Limited Partnership boosted its stake in Block by 528.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,309,296 shares of the technology company’s stock worth $199,153,000 after buying an additional 2,782,523 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Block by 18.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,194,419 shares of the technology company’s stock worth $234,886,000 after buying an additional 494,083 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Block by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,147,988 shares of the technology company’s stock valued at $189,353,000 after acquiring an additional 39,112 shares during the last quarter. Finally, Hyperion Asset Management Ltd increased its position in shares of Block by 6.9% during the second quarter. Hyperion Asset Management Ltd now owns 2,682,854 shares of the technology company’s stock valued at $203,897,000 after acquiring an additional 172,848 shares during the last quarter. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

XYZ has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their price objective on shares of Block from $95.00 to $103.00 and gave the stock an “outperform” rating in a research report on Wednesday. Oppenheimer reissued an “outperform” rating and issued a $97.00 target price (up from $85.00) on shares of Block in a research report on Thursday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Block in a research note on Tuesday. Daiwa Securities Group raised their price target on Block from $80.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Finally, Morgan Stanley raised their price target on Block from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Block currently has an average rating of “Moderate Buy” and a consensus price target of $98.36.

Block Stock Up 1.8%

Shares of XYZ opened at $85.58 on Friday. The stock has a market capitalization of $51.42 billion, a PE ratio of 115.65, a P/E/G ratio of 0.89 and a beta of 2.58. Block, Inc. has a 1 year low of $48.21 and a 1 year high of $88.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.21 and a current ratio of 2.23. The company’s 50-day simple moving average is $77.92 and its 200-day simple moving average is $71.50.

Block (NYSE:XYZ) last posted its quarterly earnings data on Tuesday, November 3rd. The technology company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.68 by $0.45. The business had revenue of $6.72 billion during the quarter. Block had a net margin of 1.80% and a return on equity of 9.63%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 EPS. Analysts forecast that Block, Inc. will post 2.75 earnings per share for the current fiscal year.

Insider Transactions at Block

In other Block news, Director Anthony Eisen sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $87.50, for a total value of $3,062,500.00. Following the completion of the transaction, the director owned 1,177,672 shares of the company’s stock, valued at $103,046,300. This trade represents a 2.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 261,686 shares of company stock worth $20,924,307. 11.37% of the stock is owned by corporate insiders.

Trending Headlines about Block

Here are the key news stories impacting Block this week:

• Positive Sentiment: Several firms raised price targets, reinforcing expectations for further gains. UBS lifted its target to $105, Raymond James to $100 while maintaining an “outperform” rating, and BMO to $102 with a “market perform” rating. Wells Fargo raised its target to $110 and Barclays to $105, both with “overweight” ratings; Argus raised its target to $105 and maintained “buy.” UBS rating Raymond James rating BMO target update Wells Fargo rating Barclays rating Argus rating
• Positive Sentiment: Block reported better-than-expected earnings, with quarterly EPS of $1.13 versus the $0.68 consensus and revenue growth of 9.9% year over year. Shares subsequently reached a 52-week high, and traders bought a large volume of call options—signals of favorable investor expectations. Earnings and 52-week high Call options activity
• Neutral Sentiment: Rothschild & Co Redburn raised its target from $75 to $85 but kept a “neutral” rating, putting its estimate close to the recent share price. Redburn target update
• Negative Sentiment: Block reportedly made another round of job cuts this year, affecting employees in its Cash App businesses. The reductions may raise concerns about execution or operating pressures despite the recent earnings beat. Report on Block job cuts

About Block

Block, Inc is a financial technology company that provides payment and commerce tools to businesses and financial services for consumers. Its products include Square, a platform offering payment processing, point-of-sale software and related business services, and Cash App, which provides person-to-person payments and other financial features.

The company also owns Afterpay, a buy-now, pay-later service, and TIDAL, a music and entertainment platform. Block serves businesses and consumers in the United States and other markets, with product availability varying by country.

Founded in 2009 as Square by Jack Dorsey and Jim McKelvey, the company adopted the name Block in 2021.