Independent Financial Group LLC Makes New Investment in Block, Inc. $XYZ

Independent Financial Group LLC acquired a new position in shares of Block, Inc. (NYSE:XYZ) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,683 shares of the technology company’s stock, valued at approximately $462,000.

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. acquired a new stake in Block during the second quarter valued at $535,305,000. Norges Bank acquired a new position in shares of Block in the fourth quarter worth about $484,387,000. Viking Global Investors LP purchased a new stake in shares of Block during the 2nd quarter worth about $368,213,000. Capital World Investors boosted its stake in shares of Block by 41.8% during the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock worth $1,042,966,000 after acquiring an additional 4,727,217 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Block by 241.4% during the 3rd quarter. Invesco Ltd. now owns 3,778,298 shares of the technology company’s stock valued at $273,058,000 after acquiring an additional 2,671,713 shares during the period. 70.44% of the stock is owned by hedge funds and other institutional investors.

Block Stock Performance

XYZ opened at $76.64 on Friday. Block, Inc. has a twelve month low of $48.21 and a twelve month high of $84.08. The firm has a market capitalization of $45.61 billion, a PE ratio of 59.87, a PEG ratio of 0.98 and a beta of 2.54. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $74.30 and its 200 day moving average price is $67.00.

Block (NYSE:XYZ) last released its earnings results on Thursday, May 7th. The technology company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.55. The business had revenue of $6.06 billion for the quarter. Block had a net margin of 3.30% and a return on equity of 7.02%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.56 earnings per share. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. As a group, sell-side analysts expect that Block, Inc. will post 2.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on XYZ. Keefe, Bruyette & Woods lifted their price target on Block from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Piper Sandler upgraded shares of Block from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $58.00 to $100.00 in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft raised shares of Block to a “buy” rating in a research note on Tuesday, June 30th. The Goldman Sachs Group raised shares of Block from a “buy” rating to a “buy” rating in a research note on Tuesday, June 30th. Finally, BTIG Research reiterated a “buy” rating and issued a $90.00 price objective on shares of Block in a report on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Block currently has an average rating of “Moderate Buy” and an average target price of $89.48.

Insider Buying and Selling

In other news, insider Brian Grassadonia sold 43,348 shares of Block stock in a transaction 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 transaction, the insider owned 557,654 shares in the company, valued at $44,612,320. The trade was a 7.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Mathew Eisen sold 135,750 shares of the business’s 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 transaction, the director directly owned 2,032,990 shares in the company, valued at approximately $156,153,961.90. The trade was a 6.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 323,300 shares of company stock worth $24,742,756. 11.37% of the stock is owned by corporate insiders.

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.