BI Asset Management Fondsmaeglerselskab A S Sells 133,294 Shares of Block, Inc. $XYZ

BI Asset Management Fondsmaeglerselskab A S lowered its position in shares of Block, Inc. (NYSE:XYZ) by 82.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,474 shares of the technology company’s stock after selling 133,294 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Block were worth $1,714,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors lifted its stake in shares of Block by 41.8% in the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock worth $1,042,966,000 after purchasing an additional 4,727,217 shares during the period. Geode Capital Management LLC grew its position in Block by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 14,406,899 shares of the technology company’s stock valued at $934,121,000 after buying an additional 67,560 shares during the period. Sands Capital Management LLC grew its position in Block by 12.2% during the third quarter. Sands Capital Management LLC now owns 11,603,057 shares of the technology company’s stock valued at $838,553,000 after buying an additional 1,262,317 shares during the period. Ameriprise Financial Inc. purchased a new stake in Block during the second quarter valued at approximately $535,305,000. Finally, Norges Bank purchased a new stake in Block during the fourth quarter valued at approximately $484,387,000. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on XYZ. Morgan Stanley boosted their price objective on shares of Block from $96.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Needham & Company LLC lifted their target price on Block from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Weiss Ratings raised Block from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Truist Financial boosted their price target on Block from $81.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, BTIG Research restated a “buy” rating and issued a $90.00 price target on shares of Block in a research report on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.42.

Block Trading Up 4.6%

Shares of Block stock opened at $75.67 on Thursday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.26. Block, Inc. has a twelve month low of $48.21 and a twelve month high of $82.50. The business has a 50-day moving average price of $71.20 and a 200-day moving average price of $64.95. The firm has a market cap of $45.04 billion, a price-to-earnings ratio of 59.12, a PEG ratio of 0.94 and a beta of 2.56.

Block (NYSE:XYZ) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.55. The business had revenue of $6.06 billion during the quarter. Block had a return on equity of 7.02% and a net margin of 3.30%.Block’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 earnings per share. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. Equities research analysts anticipate that Block, Inc. will post 2.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Brian Grassadonia sold 8,166 shares of Block stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $68.01, for a total transaction of $555,369.66. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 30,919 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $75.00, for a total value of $2,318,925.00. Following the completion of the sale, the chief financial officer owned 500,816 shares of the company’s stock, 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. Insiders have sold 237,773 shares of company stock worth $17,802,636 in the last three months. Corporate insiders own 11.37% of the company’s stock.

Block Company 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.