D.A. Davidson & CO. Reduces Stock Position in Block, Inc. $XYZ

D.A. Davidson & CO. cut its holdings in Block, Inc. (NYSE:XYZ) by 76.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,017 shares of the technology company’s stock after selling 12,713 shares during the period. D.A. Davidson & CO.’s holdings in Block were worth $242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Ameriprise Financial Inc. bought a new stake in Block during the 2nd quarter valued at $535,305,000. Norges Bank purchased a new stake in shares of Block during the fourth quarter worth $484,387,000. Viking Global Investors LP purchased a new stake in shares of Block during the second quarter worth $368,213,000. Capital World Investors boosted its holdings in shares of Block by 41.8% in the fourth quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock worth $1,042,966,000 after acquiring an additional 4,727,217 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Block by 241.4% in the third quarter. Invesco Ltd. now owns 3,778,298 shares of the technology company’s stock worth $273,058,000 after acquiring an additional 2,671,713 shares during the period. 70.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Block news, insider Brian Grassadonia sold 43,348 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 557,654 shares of the company’s stock, valued at $44,612,320. This trade represents a 7.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 8,093 shares of Block stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $75.00, for a total value of $606,975.00. Following the sale, the chief financial officer owned 463,246 shares of the company’s stock, valued at approximately $34,743,450. This trade represents a 1.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 323,300 shares of company stock worth $24,742,756 in the last ninety days. 11.37% of the stock is currently owned by insiders.

Block Trading Up 0.9%

Block stock opened at $77.19 on Friday. The stock has a market cap of $45.94 billion, a P/E ratio of 60.31, a PEG ratio of 0.97 and a beta of 2.54. Block, Inc. has a fifty-two week low of $48.21 and a fifty-two week high of $84.08. The firm’s fifty day moving average price is $74.44 and its 200-day moving average price is $67.07. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.99 and a current ratio of 1.99.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Block from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. BMO Capital Markets raised their target price on Block from $78.00 to $85.00 and gave the stock a “market perform” rating in a research note on Wednesday. Wall Street Zen raised Block from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Rosenblatt Securities set a $100.00 target price on Block in a report on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded Block to a “buy” rating in a research report on Tuesday, June 30th. Four analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.84.

About Block

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.