Tiger Global Management LLC Cuts Stock Position in Block, Inc. $XYZ

Tiger Global Management LLC lessened its holdings in Block, Inc. (NYSE:XYZ) by 37.2% during the 1st quarter, HoldingsChannel reports. The firm owned 4,000,000 shares of the technology company’s stock after selling 2,364,840 shares during the period. Block accounts for approximately 1.1% of Tiger Global Management LLC’s portfolio, making the stock its 20th largest position. Tiger Global Management LLC’s holdings in Block were worth $240,720,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Ameriprise Financial Inc. bought a new position in Block during the second quarter valued at $535,305,000. Norges Bank bought a new stake in shares of Block in the 4th quarter worth about $484,387,000. Viking Global Investors LP purchased a new stake in shares of Block during the 2nd quarter valued at about $368,213,000. Capital World Investors raised its position in shares of Block by 41.8% during the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock valued at $1,042,966,000 after buying an additional 4,727,217 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Block by 528.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,309,296 shares of the technology company’s stock valued at $199,153,000 after acquiring an additional 2,782,523 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Stock Performance

Shares of NYSE:XYZ opened at $77.19 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.26. Block, Inc. has a 12 month low of $48.21 and a 12 month high of $84.08. The company has a market capitalization of $45.94 billion, a price-to-earnings ratio of 60.31, a PEG ratio of 0.97 and a beta of 2.54. The firm’s 50-day moving average is $74.44 and its 200 day moving average is $67.07.

Block (NYSE:XYZ) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.55. Block had a net margin of 3.30% and a return on equity of 7.02%. The business had revenue of $6.06 billion during the quarter. During the same period in the previous year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. Research analysts predict that Block, Inc. will post 2.48 EPS for the current year.

Analysts Set New Price Targets

XYZ has been the subject of several recent research reports. Oppenheimer lowered Block from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Keefe, Bruyette & Woods upped their price objective on Block from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Zacks Research raised Block from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft upgraded Block to a “buy” rating in a report on Tuesday, June 30th. Finally, Morgan Stanley boosted their target price on Block from $96.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.84.

Insider Buying and Selling

In other Block news, insider Brian Grassadonia sold 43,348 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $80.00, for a total value of $3,467,840.00. Following the transaction, the insider owned 557,654 shares of the company’s stock, valued at $44,612,320. This represents a 7.21% decrease in their position. The sale was disclosed in a legal filing 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 Mathew Eisen sold 6,000 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $78.35, for a total value of $470,100.00. Following the completion of the sale, the director owned 1,838,672 shares in the company, valued at approximately $144,059,951.20. The trade was a 0.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 323,300 shares of company stock valued at $24,742,756 over the last three months. 11.37% of the stock is owned by corporate insiders.

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.