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

D.A. Davidson & CO. cut its position in shares of Block, Inc. (NYSE:XYZ) by 76.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,017 shares of the technology company’s stock after selling 12,713 shares during the quarter. D.A. Davidson & CO.’s holdings in Block were worth $242,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of XYZ. Baird Financial Group Inc. purchased a new position in shares of Block during the second quarter worth approximately $1,866,000. Brown Advisory Inc. bought a new position in shares of Block during the 2nd quarter valued at $516,000. Jump Financial LLC bought a new position in shares of Block during the 2nd quarter valued at $385,000. Federated Hermes Inc. purchased a new position in Block in the 2nd quarter worth $53,000. Finally, Cerity Partners LLC purchased a new position in Block in the 2nd quarter worth $1,861,000. Institutional investors own 70.44% of the company’s stock.

Insider Activity

In related news, insider Brian Grassadonia sold 43,348 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $80.00, for a total transaction of $3,467,840.00. Following the transaction, the insider owned 557,654 shares in the company, valued at $44,612,320. The trade was a 7.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 6,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $78.35, for a total value of $470,100.00. Following the transaction, the director directly owned 1,838,672 shares of the company’s stock, valued at $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 sold 323,300 shares of company stock worth $24,742,756 over the last three months. 11.37% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. KeyCorp upped their price target on shares of Block from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday. Zacks Research raised Block from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. Weiss Ratings upgraded Block from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Wall Street Zen upgraded Block from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Craig Hallum started coverage on Block in a research report on Tuesday, June 30th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.84.

Block Trading Up 0.9%

Shares of XYZ opened at $77.19 on Friday. The stock has a market capitalization 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 twelve month low of $48.21 and a twelve month high of $84.08. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $74.44 and a two-hundred day simple moving average of $67.07.

Block (NYSE:XYZ) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.55. The firm had revenue of $6.06 billion for the quarter. Block had a net margin of 3.30% and a return on equity of 7.02%. Block’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. On average, research analysts anticipate that Block, Inc. will post 2.48 EPS for the current year.

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.