Oakmont Investment Advisors Inc. Takes $471,000 Position in Block, Inc. $XYZ

Oakmont Investment Advisors Inc. acquired a new position in shares of Block, Inc. (NYSE:XYZ) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,200 shares of the technology company’s stock, valued at approximately $471,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Block in the 2nd quarter valued at approximately $621,703,000. Ameriprise Financial Inc. acquired a new position in Block during the 2nd quarter worth $535,305,000. Norges Bank bought a new position in shares of Block in the fourth quarter worth $484,387,000. Viking Global Investors LP acquired a new position in shares of Block during the second quarter valued at $368,213,000. Finally, Capital World Investors increased its holdings in shares of Block by 41.8% during the fourth quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock valued at $1,042,966,000 after purchasing an additional 4,727,217 shares during the period. 70.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Needham & Company LLC upped their price objective on shares of Block from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Craig Hallum initiated coverage on shares of Block in a research note on Tuesday, June 30th. They set a “buy” rating on the stock. Morgan Stanley restated an “overweight” rating on shares of Block in a research report on Wednesday, August 5th. Wolfe Research upped their price target on shares of Block from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 25th. Finally, Wall Street Zen upgraded shares of Block from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.42.

Insider Buying and Selling at Block

In other Block news, CFO Amrita Ahuja sold 9,511 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $82.43, for a total transaction of $783,991.73. Following the completion of the sale, the chief financial officer directly owned 423,262 shares of the company’s stock, valued at approximately $34,889,486.66. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 43,348 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $80.00, for a total transaction 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 represents a 7.21% 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. Over the last 90 days, insiders have sold 384,006 shares of company stock valued at $30,695,321. Corporate insiders own 11.37% of the company’s stock.

Block Stock Performance

NYSE:XYZ opened at $82.83 on Friday. The company has a 50-day moving average of $80.35 and a 200-day moving average of $71.08. The firm has a market cap of $49.76 billion, a price-to-earnings ratio of 147.91, a price-to-earnings-growth ratio of 0.88 and a beta of 2.52. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. Block, Inc. has a twelve month low of $48.21 and a twelve month high of $86.92.

Block (NYSE:XYZ) last released its earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS 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 business had revenue of $6.62 billion for the quarter. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The firm’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 2.72 earnings per share for the current fiscal year.

Block 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.