Harvest Portfolios Group Inc. Acquires 31,399 Shares of Block, Inc. $XYZ

Harvest Portfolios Group Inc. lifted its holdings in shares of Block, Inc. (NYSE:XYZ) by 54.1% during the 4th quarter, Holdings Channel reports. The firm owned 89,486 shares of the technology company’s stock after purchasing an additional 31,399 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Block were worth $5,825,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cibc World Market Inc. boosted its holdings in Block by 24.0% in the third quarter. Cibc World Market Inc. now owns 179,271 shares of the technology company’s stock worth $12,956,000 after acquiring an additional 34,678 shares in the last quarter. New York Life Investment Management LLC bought a new position in Block in the third quarter worth approximately $5,400,000. Principal Financial Group Inc. boosted its holdings in Block by 2,385.3% in the third quarter. Principal Financial Group Inc. now owns 612,358 shares of the technology company’s stock worth $44,255,000 after acquiring an additional 587,719 shares in the last quarter. Hartford Investment Management Co. bought a new position in Block in the third quarter worth approximately $2,323,000. Finally, Mutual of America Capital Management LLC bought a new position in Block in the third quarter worth approximately $4,305,000. Institutional investors own 70.44% of the company’s stock.

Insider Transactions at Block

In other Block news, insider Chrysty Esperanza sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $75.00, for a total value of $225,000.00. Following the completion of the sale, the insider directly owned 268,169 shares of the company’s stock, valued at $20,112,675. This trade represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 1,769 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $60.25, for a total value of $106,582.25. Following the completion of the sale, the insider directly owned 500,763 shares of the company’s stock, valued at $30,170,970.75. This represents a 0.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 49,725 shares of company stock valued at $3,401,393. Corporate insiders own 11.37% of the company’s stock.

Block Stock Performance

NYSE:XYZ opened at $69.18 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.99 and a quick ratio of 1.99. The business has a fifty day simple moving average of $65.50 and a two-hundred day simple moving average of $63.82. Block, Inc. has a 1 year low of $48.21 and a 1 year high of $82.50. The company has a market capitalization of $41.17 billion, a P/E ratio of 54.04, a P/E/G ratio of 0.99 and a beta of 2.57.

Block (NYSE:XYZ) last released its earnings results on Thursday, May 7th. The technology company reported $0.85 earnings per share (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 business had revenue of $6.06 billion during the quarter. During the same period in the prior year, the business earned $0.56 earnings per share. 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, analysts expect that Block, Inc. will post 2.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on XYZ shares. Zacks Research lowered Block from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Needham & Company LLC increased their price target on Block from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, May 8th. TD Cowen increased their price target on Block from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Canaccord Genuity Group increased their price target on Block from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Monday. Finally, Truist Financial increased their price target on Block from $77.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.94.

Block Company 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.