Block, Inc. $XYZ Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in Block, Inc. (NYSE:XYZ) by 16.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 230,082 shares of the technology company’s stock after selling 46,106 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Block were worth $13,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of XYZ. Baird Financial Group Inc. bought a new stake in Block in the 2nd quarter valued at about $1,866,000. Brown Advisory Inc. acquired a new position in Block during the 2nd quarter valued at about $516,000. Jump Financial LLC bought a new position in Block in the 2nd quarter worth about $385,000. Federated Hermes Inc. bought a new position in Block in the 2nd quarter worth about $53,000. Finally, Cerity Partners LLC acquired a new stake in shares of Block in the second quarter valued at approximately $1,861,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Trading Up 2.1%

Shares of NYSE XYZ opened at $78.71 on Friday. 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 12 month low of $48.21 and a 12 month high of $82.50. The company has a market cap of $46.85 billion, a price-to-earnings ratio of 61.50, a P/E/G ratio of 0.98 and a beta of 2.54. The business has a fifty day simple moving average of $72.04 and a 200-day simple moving average of $65.56.

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, 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 firm had revenue of $6.06 billion for the quarter. During the same quarter in the previous year, the firm posted $0.56 EPS. Block’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. Sell-side analysts predict that Block, Inc. will post 2.48 EPS for the current year.

Insider Transactions at Block

In other news, insider Brian Grassadonia sold 8,166 shares of the business’s 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 sale, the insider owned 601,002 shares in the company, valued at $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 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, CFO Amrita Ahuja sold 30,919 shares of the company’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 transaction 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 approximately $37,561,200. This trade represents a 5.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 291,773 shares of company stock valued at $22,057,296 over the last ninety days. Corporate insiders own 11.37% of the company’s stock.

Analyst Ratings Changes

XYZ has been the subject of a number of recent analyst reports. Rosenblatt Securities set a $100.00 price objective on Block in a report on Tuesday. Zacks Research raised Block from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. Royal Bank Of Canada boosted 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. Craig Hallum initiated coverage on Block in a research note on Tuesday. They issued a “buy” rating for the company. Finally, Cantor Fitzgerald raised their price target on Block from $78.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Four analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.56.

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.