Engineers Gate Manager LP Purchases 550,056 Shares of Block, Inc. $XYZ

Engineers Gate Manager LP grew its position in shares of Block, Inc. (NYSE:XYZ) by 2,575.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 571,414 shares of the technology company’s stock after purchasing an additional 550,056 shares during the quarter. Block makes up about 0.6% of Engineers Gate Manager LP’s investment portfolio, making the stock its 21st largest position. Engineers Gate Manager LP owned 0.10% of Block worth $43,427,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Raiffeisen Bank International AG boosted its stake in Block by 0.3% in the second quarter. Raiffeisen Bank International AG now owns 44,901 shares of the technology company’s stock worth $3,503,000 after buying an additional 148 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Block by 33.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 707 shares of the technology company’s stock worth $46,000 after acquiring an additional 179 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of Block by 3.3% during the second quarter. Avior Wealth Management LLC now owns 6,081 shares of the technology company’s stock worth $462,000 after acquiring an additional 193 shares in the last quarter. Carson Advisory Inc. lifted its holdings in shares of Block by 2.6% in the 1st quarter. Carson Advisory Inc. now owns 8,035 shares of the technology company’s stock worth $484,000 after acquiring an additional 200 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Block by 33.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 800 shares of the technology company’s stock worth $58,000 after acquiring an additional 200 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors.

Insider Activity at Block

In other Block news, insider Brian Grassadonia sold 43,348 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $80.00, for a total transaction of $3,467,840.00. Following the completion of the transaction, the insider owned 557,654 shares of the company’s stock, valued at $44,612,320. This represents a 7.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 that occurred on Wednesday, August 5th. The stock was sold at an average price of $85.85, for a total value of $3,519,850.00. Following the completion of the sale, the director owned 1,566,672 shares of the company’s stock, valued at approximately $134,498,791.20. This trade represents a 2.55% 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 372,006 shares of company stock worth $29,886,161 in the last 90 days. Company insiders own 11.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on XYZ shares. Scotiabank started coverage on shares of Block in a report on Wednesday, September 2nd. They set a “sector perform” rating and a $82.00 target price on the stock. Robert W. Baird set a $105.00 price target on shares of Block in a research note on Thursday, August 6th. BTIG Research upped their price target on shares of Block from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods raised their price objective on Block from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Wolfe Research lifted their price objective on Block from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.42.

Block Trading Down 3.3%

Shares of XYZ opened at $80.03 on Wednesday. The stock has a market capitalization of $48.08 billion, a P/E ratio of 142.90, a PEG ratio of 0.87 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. The firm has a fifty day simple moving average of $80.53 and a two-hundred day simple moving average of $71.64.

Block (NYSE:XYZ) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.54. The firm had revenue of $6.62 billion for the quarter. Block had a net margin of 1.43% and a return on equity of 8.10%. Block’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. 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 anticipate that Block, Inc. will post 2.72 EPS for the current year.

Block Profile

Block, Inc is a financial technology company that develops tools and services for businesses, consumers and artists. The company was formerly known as Square, Inc and operates through a portfolio of brands, including Square, Cash App, Afterpay and TIDAL.

Its Square ecosystem provides businesses with payment processing, point-of-sale hardware and software, invoicing, payroll, inventory management, online commerce and business banking services. Cash App offers consumers peer-to-peer payments, money transfers, a debit card and access to selected financial products.