Envestnet Portfolio Solutions Inc. Sells 66,546 Shares of Block, Inc. $XYZ

Envestnet Portfolio Solutions Inc. trimmed its stake in Block, Inc. (NYSE:XYZ) by 82.0% during the fourth quarter, Holdings Channel reports. The fund owned 14,600 shares of the technology company’s stock after selling 66,546 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Block were worth $950,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Cibc World Market Inc. raised its stake in shares of Block by 24.0% in the 3rd quarter. Cibc World Market Inc. now owns 179,271 shares of the technology company’s stock valued at $12,956,000 after acquiring an additional 34,678 shares in the last quarter. New York Life Investment Management LLC bought a new position in shares of Block in the 3rd quarter valued at approximately $5,400,000. Principal Financial Group Inc. raised its stake in shares of Block by 2,385.3% in the 3rd quarter. Principal Financial Group Inc. now owns 612,358 shares of the technology company’s stock valued at $44,255,000 after acquiring an additional 587,719 shares in the last quarter. Hartford Investment Management Co. bought a new position in shares of Block in the 3rd quarter valued at approximately $2,323,000. Finally, Mutual of America Capital Management LLC bought a new position in shares of Block in the 3rd quarter valued at approximately $4,305,000. 70.44% of the stock is owned by institutional investors.

Insider Transactions at Block

In other news, insider Brian Grassadonia sold 8,166 shares of Block stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $68.01, for a total transaction of $555,369.66. Following the sale, the insider owned 601,002 shares of the company’s stock, valued at approximately $40,874,146.02. This trade represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chrysty Esperanza sold 3,000 shares of Block stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $75.00, for a total value of $225,000.00. Following the sale, the insider directly owned 268,169 shares in the company, valued at $20,112,675. The trade was a 1.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 58,518 shares of company stock worth $4,000,598 over the last quarter. 11.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on XYZ shares. Keefe, Bruyette & Woods lifted their price target on Block from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Rothschild & Co Redburn raised Block from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $45.00 to $55.00 in a research report on Wednesday, March 18th. BTIG Research reaffirmed a “buy” rating and issued a $90.00 price target on shares of Block in a research report on Friday, May 8th. Royal Bank Of Canada lifted their price target on Block from $90.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Wall Street Zen raised Block from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.94.

Block Stock Performance

Shares of NYSE XYZ opened at $68.05 on Monday. 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 business’s 50 day moving average is $65.73 and its two-hundred day moving average is $63.70. The company has a market cap of $40.50 billion, a P/E ratio of 53.17, a P/E/G ratio of 0.89 and a beta of 2.57. Block, Inc. has a 12 month low of $48.21 and a 12 month high of $82.50.

Block (NYSE:XYZ) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.30 by $0.55. Block had a return on equity of 7.02% and a net margin of 3.30%.The company had revenue of $6.06 billion for the quarter. During the same period in the prior year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. 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, equities analysts expect that Block, Inc. will post 2.4 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.