Prospera Financial Services Inc Sells 6,923 Shares of Block, Inc. $XYZ

Prospera Financial Services Inc lowered its holdings in shares of Block, Inc. (NYSE:XYZ) by 50.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,823 shares of the technology company’s stock after selling 6,923 shares during the period. Prospera Financial Services Inc’s holdings in Block were worth $444,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cibc World Market Inc. grew its holdings in shares of Block by 24.0% during the 3rd quarter. Cibc World Market Inc. now owns 179,271 shares of the technology company’s stock valued at $12,956,000 after purchasing an additional 34,678 shares during the last quarter. New York Life Investment Management LLC bought a new position in shares of Block during the 3rd quarter valued at $5,400,000. Principal Financial Group Inc. grew its holdings in shares of Block by 2,385.3% during the 3rd quarter. Principal Financial Group Inc. now owns 612,358 shares of the technology company’s stock valued at $44,255,000 after purchasing an additional 587,719 shares during the last quarter. Hartford Investment Management Co. bought a new position in shares of Block during the 3rd quarter valued at $2,323,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Block during the 3rd quarter valued at $12,576,000. Institutional investors own 70.44% of the company’s stock.

Analysts Set New Price Targets

XYZ has been the topic of several recent research reports. BTIG Research reaffirmed a “buy” rating and set a $90.00 target price on shares of Block in a report on Friday, May 8th. TD Cowen increased their price target on shares of Block from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, February 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Block in a research note on Friday, May 8th. Citigroup upped their price objective on shares of Block from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, BMO Capital Markets began coverage on shares of Block in a research note on Tuesday, April 21st. They set a “market perform” rating and a $74.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average price target of $85.12.

Block Stock Up 1.8%

Shares of NYSE:XYZ opened at $75.69 on Friday. Block, Inc. has a 1 year low of $48.21 and a 1 year high of $82.50. The company has a market cap of $45.05 billion, a PE ratio of 59.14, a P/E/G ratio of 0.99 and a beta of 2.57. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.99 and a quick ratio of 1.99. The stock’s 50-day moving average is $66.96 and its 200 day moving average is $63.79.

Block (NYSE:XYZ) last announced its quarterly earnings results 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 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 firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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. Sell-side analysts anticipate that Block, Inc. will post 2.42 EPS for the current year.

Insider Activity at Block

In other news, insider Brian Grassadonia sold 8,166 shares of Block stock in a transaction dated Friday, May 22nd. The shares were 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. The trade was a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 30,919 shares of Block stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,318,925.00. Following the sale, the chief financial officer directly owned 500,816 shares in the company, valued at $37,561,200. The trade was a 5.81% 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. Over the last quarter, insiders sold 49,485 shares of company stock worth $3,573,346. 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.