Block, Inc. $XYZ Shares Acquired by RFG Advisory LLC

RFG Advisory LLC increased its holdings in Block, Inc. (NYSE:XYZ) by 485.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 19,698 shares of the technology company’s stock after purchasing an additional 16,336 shares during the quarter. RFG Advisory LLC’s holdings in Block were worth $1,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in shares of Block by 6,740.0% in the second quarter. California State Teachers Retirement System now owns 54,852,088 shares of the technology company’s stock worth $4,168,759,000 after purchasing an additional 54,050,161 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Block during the second quarter valued at about $621,703,000. Ameriprise Financial Inc. acquired a new stake in Block in the second quarter worth about $535,305,000. Norges Bank bought a new position in Block in the 4th quarter valued at about $484,387,000. Finally, Viking Global Investors LP bought a new position in Block in the 2nd quarter valued at about $368,213,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

XYZ has been the topic of a number of recent analyst reports. BMO Capital Markets boosted 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. Benchmark raised Block to a “strong-buy” rating in a research note on Thursday. Scotiabank assumed coverage on shares of Block in a research report on Wednesday, September 2nd. They issued a “sector perform” rating and a $82.00 price target on the stock. Craig Hallum assumed coverage on shares of Block in a report on Tuesday, June 30th. They issued a “buy” rating for the company. Finally, Clear Str upgraded shares of Block to a “hold” rating in a research report on Thursday, July 16th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Block presently has an average rating of “Moderate Buy” and a consensus price target of $95.42.

Insider Buying and Selling

In other Block news, CFO Amrita Ahuja sold 9,511 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $82.43, for a total transaction of $783,991.73. Following the sale, the chief financial officer owned 423,262 shares in the company, valued at approximately $34,889,486.66. The trade was a 2.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 business’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 sale, the insider owned 557,654 shares in the company, valued at $44,612,320. This represents a 7.21% 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. In the last quarter, insiders have sold 378,006 shares of company stock valued at $30,430,901. 11.37% of the stock is owned by corporate insiders.

Block Stock Performance

XYZ opened at $79.25 on Friday. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26. The firm has a market cap of $47.61 billion, a PE ratio of 141.52, a P/E/G ratio of 0.83 and a beta of 2.52. The business has a fifty day simple moving average of $80.59 and a 200-day simple moving average of $72.06. Block, Inc. has a fifty-two week low of $48.21 and a fifty-two week high of $86.92.

Block (NYSE:XYZ) last announced its earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.54. Block had a return on equity of 8.10% and a net margin of 1.43%.The company had revenue of $6.62 billion for the quarter. During the same period last year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. As a group, equities analysts predict that Block, Inc. will post 2.74 EPS for the current fiscal year.

Block Profile

Block, Inc is a global technology company that develops financial services and commerce tools for businesses and consumers. Founded in 2009 as Square, the company changed its corporate name to Block in 2021 to reflect the expansion of its operations beyond seller-focused payment solutions.

Through its Square ecosystem, Block provides payment processing, point-of-sale hardware and software, business banking, invoicing, payroll, inventory management and other tools for merchants. Its consumer-focused Cash App offers services that may include peer-to-peer payments, money transfers, investing, debit-card access and bitcoin-related functionality, subject to availability and applicable regulations.

Block also owns Afterpay, a buy now, pay later platform, and has operated additional businesses involving music streaming and bitcoin infrastructure.