Ieq Capital LLC Invests $6.29 Million in Block, Inc. $XYZ

Ieq Capital LLC purchased a new position in shares of Block, Inc. (NYSE:XYZ) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 165,056 shares of the technology company’s stock, valued at approximately $6,285,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of XYZ. Allworth Financial LP acquired a new position in Block in the second quarter worth $540,000. MSH Capital Advisors LLC acquired a new stake in shares of Block in the second quarter valued at $669,000. West Family Investments Inc. acquired a new stake in shares of Block in the second quarter valued at $416,000. NewEdge Wealth LLC bought a new position in shares of Block in the second quarter valued at about $662,000. Finally, Wealthfront Advisers LLC bought a new position in shares of Block in the second quarter valued at about $637,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Stock Down 0.0%

NYSE:XYZ opened at $82.15 on Monday. Block, Inc. has a 12-month low of $48.21 and a 12-month high of $86.75. 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 capitalization of $49.36 billion, a P/E ratio of 146.70, a P/E/G ratio of 0.92 and a beta of 2.53. The stock’s fifty day simple moving average is $78.74 and its 200-day simple moving average is $69.23.

Block (NYSE:XYZ) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating 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 business had revenue of $6.62 billion during the quarter. During the same quarter in the prior year, the company posted $0.62 EPS. The company’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. Equities research analysts expect that Block, Inc. will post 2.69 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Block from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. KeyCorp raised their price target on shares of Block from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Susquehanna boosted their price objective on shares of Block from $90.00 to $100.00 and gave the stock a “positive” rating in a research report on Thursday, August 6th. BMO Capital Markets upped their price objective on Block from $78.00 to $85.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. Finally, Citigroup increased their price objective on Block from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Three research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.23.

Insider Transactions at Block

In related news, CFO Amrita Ahuja sold 8,971 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $85.85, for a total value of $770,160.35. Following the sale, the chief financial officer directly owned 454,275 shares in the company, valued at $38,999,508.75. This trade represents a 1.94% decrease in their position. The sale 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, Director Anthony Mathew Eisen sold 135,750 shares of Block stock in a transaction that occurred on 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. The trade was a 6.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 461,070 shares of company stock worth $36,261,272. 11.37% of the stock is currently owned by company insiders.

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.