Kingsview Wealth Management LLC Purchases New Position in Block, Inc. $XYZ

Kingsview Wealth Management LLC purchased a new position in Block, Inc. (NYSE:XYZ) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 134,228 shares of the technology company’s stock, valued at approximately $5,111,000.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Block by 33.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 707 shares of the technology company’s stock valued at $46,000 after buying an additional 179 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of Block by 3.3% during the 2nd quarter. Avior Wealth Management LLC now owns 6,081 shares of the technology company’s stock worth $462,000 after buying an additional 193 shares during the period. Carson Advisory Inc. lifted its position in shares of Block by 2.6% during the 1st quarter. Carson Advisory Inc. now owns 8,035 shares of the technology company’s stock valued at $484,000 after buying an additional 200 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in shares of Block by 33.3% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 800 shares of the technology company’s stock valued at $58,000 after buying an additional 200 shares in the last quarter. Finally, Keel Point LLC grew its stake in Block by 1.5% in the 4th quarter. Keel Point LLC now owns 13,796 shares of the technology company’s stock valued at $898,000 after acquiring an additional 205 shares during the period. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insider Buying and Selling at Block

In other news, CFO Amrita Ahuja sold 9,511 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $82.43, for a total value of $783,991.73. Following the completion of the sale, the chief financial officer directly owned 423,262 shares in the company, valued at $34,889,486.66. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a filing 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 firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $82.00, for a total transaction of $492,000.00. Following the completion of the transaction, the director directly owned 1,476,672 shares in the company, valued at approximately $121,087,104. This represents a 0.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 501,756 shares of company stock worth $39,582,259 over the last three months. 11.37% of the stock is owned by corporate insiders.

Block Stock Down 1.5%

Shares of XYZ opened at $83.58 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21. Block, Inc. has a one year low of $48.21 and a one year high of $86.92. The stock has a market capitalization of $50.21 billion, a price-to-earnings ratio of 149.25, a PEG ratio of 0.95 and a beta of 2.53. The stock has a 50 day moving average price of $79.64 and a 200 day moving average price of $70.09.

Block (NYSE:XYZ) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.48 by $0.54. The firm had revenue of $6.62 billion during the quarter. Block had a return on equity of 8.10% and a net margin of 1.43%.The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 earnings per share. 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 forecast that Block, Inc. will post 2.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Block in a report on Tuesday, June 30th. They issued a “hold” rating for the company. TD Cowen increased their price objective on shares of Block from $101.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Keefe, Bruyette & Woods lifted their target price on shares of Block from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Robert W. Baird set a $105.00 target price on shares of Block in a research note on Thursday, August 6th. Finally, Oppenheimer reissued an “outperform” rating and set a $97.00 target price on shares of Block in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.84.

Block 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.