QRG Capital Management Inc. Raises Stock Position in Block, Inc. $XYZ

QRG Capital Management Inc. boosted its holdings in shares of Block, Inc. (NYSE:XYZ) by 9.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 107,271 shares of the technology company’s stock after buying an additional 9,532 shares during the quarter. QRG Capital Management Inc.’s holdings in Block were worth $6,456,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sound Income Strategies LLC boosted its position in Block by 57.1% in the fourth quarter. Sound Income Strategies LLC now owns 443 shares of the technology company’s stock valued at $29,000 after buying an additional 161 shares during the last quarter. Rachor Investment Advisory Services LLC acquired a new stake in Block during the 4th quarter valued at approximately $32,000. EverSource Wealth Advisors LLC lifted its stake in Block by 59.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 528 shares of the technology company’s stock valued at $38,000 after acquiring an additional 196 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Block by 57.6% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company’s stock valued at $40,000 after acquiring an additional 223 shares during the last quarter. Finally, Osbon Capital Management LLC purchased a new stake in shares of Block in the 4th quarter valued at $43,000. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Price Performance

Block stock opened at $78.71 on Monday. The company has a fifty day simple moving average of $72.16 and a 200-day simple moving average of $65.66. The firm has a market capitalization of $46.85 billion, a price-to-earnings ratio of 61.50, a PEG ratio of 1.00 and a beta of 2.54. 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 52-week low of $48.21 and a 52-week high of $82.50.

Block (NYSE:XYZ) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates 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 business posted $0.56 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. On average, equities analysts anticipate that Block, Inc. will post 2.48 EPS for the current fiscal year.

Insider Activity

In other Block news, Director Anthony Mathew Eisen sold 135,750 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $76.81, for a total transaction of $10,426,957.50. Following the completion of the transaction, the director owned 2,032,990 shares of the company’s stock, valued at $156,153,961.90. This trade represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian Grassadonia sold 8,166 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $68.01, for a total transaction of $555,369.66. Following the transaction, the insider directly owned 601,002 shares of the company’s stock, valued at $40,874,146.02. The trade was a 1.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 289,871 shares of company stock valued at $21,942,701 in the last quarter. Insiders own 11.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on XYZ. Truist Financial increased their price target on Block from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. BTIG Research reaffirmed a “buy” rating and set a $90.00 target price on shares of Block in a report on Friday, May 8th. Bank of America decreased their price target on Block from $85.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Citigroup lowered Block from a “buy” rating to an “underperform” rating in a research report on Tuesday, June 30th. Finally, Needham & Company LLC lifted their target price on shares of Block from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and a consensus target price 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.