Connor Clark & Lunn Investment Management Ltd. Makes New $5.11 Million Investment in Block, Inc. $XYZ

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Block, Inc. (NYSE:XYZ) during the second quarter, HoldingsChannel reports. The institutional investor bought 134,150 shares of the technology company’s stock, valued at approximately $5,108,000.

Other hedge funds also recently modified their holdings of the company. Elevation Wealth Partners LLC lifted its holdings in Block by 301.0% in the second quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company’s stock valued at $30,000 after buying an additional 292 shares during the period. Global Assets Advisory LLC acquired a new stake in Block during the 1st quarter worth $31,000. Cary Street Partners Investment Advisory LLC grew its holdings in Block by 57.6% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company’s stock worth $40,000 after acquiring an additional 223 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of Block during the 2nd quarter valued at $43,000. Finally, Osbon Capital Management LLC bought a new stake in shares of Block during the 4th quarter valued at $43,000. Institutional investors own 70.44% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anthony Mathew Eisen sold 6,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $82.00, for a total transaction of $492,000.00. Following the sale, the director owned 1,476,672 shares of the company’s stock, valued at approximately $121,087,104. This trade represents a 0.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 dated 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 owned 423,262 shares in the company, valued at approximately $34,889,486.66. This represents a 2.20% 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. Over the last quarter, insiders sold 501,756 shares of company stock worth $39,582,259. 11.37% of the stock is owned by corporate insiders.

Block Stock Up 2.2%

Shares of NYSE:XYZ opened at $84.89 on Friday. The company has a 50 day moving average price of $79.46 and a two-hundred day moving average price of $69.99. 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 company has a market capitalization of $51.00 billion, a PE ratio of 151.59, a PEG ratio of 0.93 and a beta of 2.53. Block, Inc. has a 52 week low of $48.21 and a 52 week high of $86.92.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on XYZ shares. UBS Group raised their price target on Block from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Barclays started coverage on Block in a research note on Tuesday, July 7th. They set an “overweight” rating and a $100.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 target price on shares of Block in a research note on Thursday, August 6th. Royal Bank Of Canada increased their target price on Block from $93.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, BTIG Research raised their target price on Block from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Three research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.84.

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.