Globeflex Capital L P Invests $911,000 in Block, Inc. $XYZ

Globeflex Capital L P bought a new stake in shares of Block, Inc. (NYSE:XYZ) in the second quarter, Holdings Channel reports. The fund bought 11,989 shares of the technology company’s stock, valued at approximately $911,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Baird Financial Group Inc. purchased a new position in shares of Block during the 2nd quarter valued at about $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. acquired a new position in shares of Block in the 2nd quarter valued at $53,000. Finally, Cerity Partners LLC purchased a new position in Block in the second quarter valued at $1,861,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

Block Trading Down 1.0%

Shares of XYZ opened at $81.38 on Tuesday. Block, Inc. has a 52-week low of $48.21 and a 52-week high of $86.75. The stock has a market cap of $48.89 billion, a PE ratio of 145.31, a price-to-earnings-growth ratio of 0.92 and a beta of 2.53. The firm’s fifty day moving average is $78.89 and its two-hundred day moving average is $69.40. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ) last issued its earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.54. The business had revenue of $6.62 billion during the quarter. Block had a net margin of 1.43% and a return on equity of 8.10%. Block’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share. 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 forecast that Block, Inc. will post 2.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Clear Str raised shares of Block to a “hold” rating in a research note on Thursday, July 16th. Oppenheimer reiterated an “outperform” rating and set a $97.00 price target on shares of Block in a research report on Thursday, August 6th. Monness Crespi & Hardt boosted their price target on shares of Block from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Barclays started coverage on shares of Block in a report on Tuesday, July 7th. They set an “overweight” rating and a $100.00 price objective on the stock. Finally, BMO Capital Markets upped their price target on shares of Block from $78.00 to $85.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 22nd. Three research 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, Block presently has a consensus rating of “Moderate Buy” and an average price target of $95.23.

Insiders Place Their Bets

In other news, insider Brian Grassadonia sold 43,348 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $80.00, for a total transaction of $3,467,840.00. Following the completion of the sale, the insider owned 557,654 shares in the company, valued at $44,612,320. This trade represents a 7.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 9,511 shares of Block stock in a transaction on Monday, August 24th. The shares were sold at an average price of $82.43, for a total value of $783,991.73. Following the completion of the sale, the chief financial officer owned 423,262 shares in the company, valued at $34,889,486.66. This represents a 2.20% decrease in their position. 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 495,756 shares of company stock valued at $39,090,259 over the last ninety days. 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.