Harvest Portfolios Group Inc. Has $4.20 Million Position in Block, Inc. $XYZ

Harvest Portfolios Group Inc. boosted its stake in Block, Inc. (NYSE:XYZ) by 79.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,087 shares of the technology company’s stock after purchasing an additional 25,716 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Block were worth $4,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cromwell Holdings LLC bought a new position in shares of Block during the 3rd quarter worth about $27,000. City Holding Co. acquired a new position in Block during the 3rd quarter worth approximately $27,000. Nemes Rush Group LLC bought a new position in Block in the second quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC bought a new position in Block in the third quarter worth approximately $28,000. Finally, Traub Capital Management LLC acquired a new stake in Block in the second quarter valued at approximately $26,000. 70.44% of the stock is owned by institutional investors.

Block Price Performance

Block stock opened at $63.77 on Friday. Block, Inc. has a 52 week low of $44.27 and a 52 week high of $82.50. The company’s 50 day moving average price is $61.27 and its two-hundred day moving average price is $68.18. The stock has a market cap of $38.75 billion, a P/E ratio of 30.37, a P/E/G ratio of 1.31 and a beta of 2.67. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.25.

Block (NYSE:XYZ) last issued its quarterly earnings results on Thursday, February 26th. The technology company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.39. The business had revenue of $6.25 billion for the quarter. Block had a return on equity of 6.67% and a net margin of 5.40%.The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. On average, equities analysts predict that Block, Inc. will post 2.54 earnings per share for the current year.

Key Block News

Here are the key news stories impacting Block this week:

• Positive Sentiment: Management announced cuts of roughly 4,000 roles (nearly half the workforce) and said it will accelerate integrating AI to boost efficiency — a move investors interpreted as materially lowering future operating costs and improving margins. Reuters: Block shares soar as Dorsey leans on AI
• Positive Sentiment: Block reported Q4 results with EPS roughly in line with consensus and revenue up year-over-year (~$6.25B), and management raised 2026 outlook — the combination supported the rally. Zacks: Block Stock Soars
• Positive Sentiment: Multiple firms raised ratings/price targets (TD Cowen, Morgan Stanley, Needham, Oppenheimer, BTIG, Cantor Fitzgerald), signaling analyst confidence that the restructuring and AI investments boost long-term value. Benzinga roundup
• Neutral Sentiment: Macro headwinds and market volatility are present (weak futures / sector rotation), which could cap broader market upside even as Block-specific news drives the stock. Zacks: Oil Surges / Market Moves
• Negative Sentiment: The restructuring will incur substantial one-time costs (reported $450–$500M in severance and charges), which will weigh on near-term cash flow and reported results. WSJ: Layoff costs
• Negative Sentiment: Some analysts and commentators caution the boost from cuts and AI may not be durable; Seeking Alpha flagged a downgrade risk, and regulators/law firms (Halper Sadeh) are probing potential fiduciary issues — both represent execution and governance risks. Seeking Alpha: Downgrade concerns PR Newswire: Investor probe

Insider Activity at Block

In related news, insider Owen Britton Jennings sold 822 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $63.98, for a total transaction of $52,591.56. Following the completion of the transaction, the insider owned 242,718 shares in the company, valued at approximately $15,529,097.64. This represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amrita Ahuja sold 1,101 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $63.98, for a total transaction of $70,441.98. Following the sale, the chief financial officer owned 271,864 shares of the company’s stock, valued at $17,393,858.72. This trade represents a 0.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,797 shares of company stock valued at $940,298 over the last quarter. Corporate insiders own 10.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on XYZ. Needham & Company LLC increased their target price on Block from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday. BNP Paribas Exane upgraded shares of Block from a “hold” rating to an “outperform” rating and set a $83.00 price objective on the stock in a report on Wednesday, January 7th. Citigroup dropped their price objective on shares of Block from $105.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Raymond James Financial raised shares of Block to a “moderate buy” rating in a research report on Friday. Finally, Stephens restated an “overweight” rating and issued a $95.00 target price on shares of Block in a report on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Block has a consensus rating of “Moderate Buy” and an average target price of $82.97.

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.