Formidable Asset Management LLC Acquires 15,652 Shares of Block, Inc. $XYZ

Formidable Asset Management LLC acquired a new stake in shares of Block, Inc. (NYSE:XYZ) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,652 shares of the technology company’s stock, valued at approximately $1,190,000.

Other institutional investors have also modified their holdings of the company. Elevation Wealth Partners LLC raised its position in shares of Block by 301.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company’s stock worth $30,000 after purchasing an additional 292 shares during the last quarter. Global Assets Advisory LLC purchased a new position in Block in the 1st quarter valued at about $31,000. Meeder Asset Management Inc. acquired a new stake in Block in the 2nd quarter worth about $46,000. Ancora Advisors LLC acquired a new stake in Block in the 2nd quarter worth about $53,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Block by 1,033.3% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 918 shares of the technology company’s stock worth $55,000 after buying an additional 837 shares during the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Key Headlines Impacting Block

Here are the key news stories impacting Block this week:

• Positive Sentiment: Several firms raised price targets, reinforcing expectations for further gains. UBS lifted its target to $105, Raymond James to $100 while maintaining an “outperform” rating, and BMO to $102 with a “market perform” rating. Wells Fargo raised its target to $110 and Barclays to $105, both with “overweight” ratings; Argus raised its target to $105 and maintained “buy.” UBS rating Raymond James rating BMO target update Wells Fargo rating Barclays rating Argus rating
• Positive Sentiment: Block reported better-than-expected earnings, with quarterly EPS of $1.13 versus the $0.68 consensus and revenue growth of 9.9% year over year. Shares subsequently reached a 52-week high, and traders bought a large volume of call options—signals of favorable investor expectations. Earnings and 52-week high Call options activity
• Neutral Sentiment: Rothschild & Co Redburn raised its target from $75 to $85 but kept a “neutral” rating, putting its estimate close to the recent share price. Redburn target update
• Negative Sentiment: Block reportedly made another round of job cuts this year, affecting employees in its Cash App businesses. The reductions may raise concerns about execution or operating pressures despite the recent earnings beat. Report on Block job cuts

Insider Activity

In other Block news, Director Anthony Eisen sold 35,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $87.50, for a total value of $3,062,500.00. Following the completion of the sale, the director directly owned 1,177,672 shares of the company’s stock, valued at $103,046,300. This trade represents a 2.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 261,686 shares of company stock valued at $20,924,307. 11.37% of the stock is owned by company insiders.

Block Price Performance

NYSE:XYZ opened at $85.58 on Friday. Block, Inc. has a one year low of $48.21 and a one year high of $88.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.21 and a current ratio of 2.23. The stock has a market cap of $51.42 billion, a PE ratio of 115.65, a P/E/G ratio of 0.89 and a beta of 2.58. The stock has a 50 day moving average price of $77.92 and a 200 day moving average price of $71.50.

Block (NYSE:XYZ) last announced its quarterly earnings data on Tuesday, November 3rd. The technology company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.45. The firm had revenue of $6.72 billion for the quarter. Block had a return on equity of 9.63% and a net margin of 1.80%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. Equities research analysts expect that Block, Inc. will post 2.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. UBS Group increased their target price on Block from $96.00 to $105.00 in a report on Tuesday, November 3rd. Rothschild & Co Redburn boosted their price target on Block from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 3rd. Wells Fargo & Company raised their price objective on Block from $97.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday. Clear Str raised shares of Block to a “hold” rating in a research note on Thursday, July 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Block in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.36.

About Block

Block, Inc is a financial technology company that provides payment and commerce tools to businesses and financial services for consumers. Its products include Square, a platform offering payment processing, point-of-sale software and related business services, and Cash App, which provides person-to-person payments and other financial features.

The company also owns Afterpay, a buy-now, pay-later service, and TIDAL, a music and entertainment platform. Block serves businesses and consumers in the United States and other markets, with product availability varying by country.

Founded in 2009 as Square by Jack Dorsey and Jim McKelvey, the company adopted the name Block in 2021.