Chase Investment Counsel Corp Makes New Investment in Block, Inc. $XYZ

Chase Investment Counsel Corp purchased a new stake in Block, Inc. (NYSE:XYZ) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 50,000 shares of the technology company’s stock, valued at approximately $1,904,000.

Several other large investors have also recently modified their holdings of XYZ. Elevation Wealth Partners LLC increased 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 purchasing an additional 292 shares during the period. Global Assets Advisory LLC bought a new position in Block during the 1st quarter worth $31,000. Rachor Investment Advisory Services LLC acquired a new position in Block during the 4th quarter worth about $32,000. Cary Street Partners Investment Advisory LLC lifted 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 buying an additional 223 shares during the period. Finally, Osbon Capital Management LLC bought a new stake in shares of Block in the 4th quarter valued at about $43,000. Institutional investors own 70.44% of the company’s stock.

Insider Buying and Selling

In other news, CFO Amrita Ahuja sold 8,971 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $85.85, for a total transaction of $770,160.35. Following the transaction, the chief financial officer owned 454,275 shares in the company, valued at approximately $38,999,508.75. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Mathew Eisen sold 135,750 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $76.81, for a total transaction of $10,426,957.50. Following the transaction, the director directly owned 2,032,990 shares in the company, valued at $156,153,961.90. This trade represents a 6.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 459,179 shares of company stock valued at $35,983,595 over the last ninety days. 11.37% of the stock is owned by corporate insiders.

Block Price Performance

Block stock opened at $82.73 on Monday. The stock has a market capitalization of $49.70 billion, a price-to-earnings ratio of 147.73, 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 $86.75. The stock’s 50 day moving average price is $77.57 and its two-hundred day moving average price is $68.59. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21.

Block (NYSE:XYZ) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, topping the consensus estimate 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 during the quarter. During the same period last year, the business earned $0.62 EPS. The business’s quarterly revenue 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. On average, equities analysts predict that Block, Inc. will post 2.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

XYZ has been the subject of several recent research reports. Zacks Research cut Block from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 30th. BMO Capital Markets lifted their price objective on Block from $78.00 to $85.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their target price on Block from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Citigroup increased their target price on shares of Block from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Barclays began coverage on shares of Block in a report on Tuesday, July 7th. They set an “overweight” rating and a $100.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.23.

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.