California State Teachers Retirement System Raises Position in Block, Inc. $XYZ

California State Teachers Retirement System raised its position in shares of Block, Inc. (NYSE:XYZ) by 6,740.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,852,088 shares of the technology company’s stock after acquiring an additional 54,050,161 shares during the quarter. California State Teachers Retirement System owned approximately 0.09% of Block worth $4,168,759,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Greenland Capital Management LP bought a new position in shares of Block in the 2nd quarter worth approximately $519,000. Ameritas Advisory Services LLC bought a new stake in shares of Block during the second quarter valued at approximately $334,000. Wedmont Private Capital boosted its position in shares of Block by 14.2% during the second quarter. Wedmont Private Capital now owns 8,506 shares of the technology company’s stock valued at $658,000 after purchasing an additional 1,058 shares in the last quarter. HB Wealth Management LLC grew its stake in Block by 14.1% in the second quarter. HB Wealth Management LLC now owns 18,238 shares of the technology company’s stock worth $1,386,000 after purchasing an additional 2,253 shares during the period. Finally, Nilsine Partners LLC grew its stake in Block by 295.4% in the second quarter. Nilsine Partners LLC now owns 25,999 shares of the technology company’s stock worth $1,976,000 after purchasing an additional 19,423 shares during the period. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Analyst Ratings Changes

XYZ has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their price objective on Block from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Jefferies Financial Group initiated coverage on shares of Block in a report on Tuesday, June 30th. They set a “hold” rating on the stock. Piper Sandler upped their target price on shares of Block from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. TD Cowen increased their price target on shares of Block from $101.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Craig Hallum started coverage on shares of Block in a research report on Tuesday, June 30th. They set a “buy” rating for the company. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and nine have given 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 $95.42.

Block Stock Down 0.8%

XYZ stock opened at $79.45 on Thursday. The business has a 50 day moving average of $80.57 and a 200 day moving average of $71.82. The firm has a market cap of $47.73 billion, a PE ratio of 141.88, a price-to-earnings-growth ratio of 0.85 and a beta of 2.52. Block, Inc. has a twelve month low of $48.21 and a twelve month high of $86.92. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ) last released its earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.48 by $0.54. Block had a return on equity of 8.10% and a net margin of 1.43%.The business had revenue of $6.62 billion for the quarter. During the same period last year, the firm posted $0.62 earnings per share. The company’s revenue was up 9.3% compared to the same quarter last year. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. On average, research analysts forecast that Block, Inc. will post 2.72 EPS for the current fiscal year.

Insider Transactions at Block

In related news, CFO Amrita Ahuja sold 9,511 shares of the company’s 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 transaction, the chief financial officer owned 423,262 shares in the company, valued at $34,889,486.66. The trade was a 2.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Eisen sold 41,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $85.85, for a total transaction of $3,519,850.00. Following the sale, the director directly owned 1,566,672 shares in the company, valued at $134,498,791.20. This trade represents a 2.55% 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 a total of 372,006 shares of company stock valued at $29,886,161 in the last quarter. 11.37% of the stock is owned by insiders.

Block Profile

Block, Inc is a global technology company that develops financial services and commerce tools for businesses and consumers. Founded in 2009 as Square, the company changed its corporate name to Block in 2021 to reflect the expansion of its operations beyond seller-focused payment solutions.

Through its Square ecosystem, Block provides payment processing, point-of-sale hardware and software, business banking, invoicing, payroll, inventory management and other tools for merchants. Its consumer-focused Cash App offers services that may include peer-to-peer payments, money transfers, investing, debit-card access and bitcoin-related functionality, subject to availability and applicable regulations.

Block also owns Afterpay, a buy now, pay later platform, and has operated additional businesses involving music streaming and bitcoin infrastructure.