GC Wealth Management RIA LLC Reduces Stock Position in Block, Inc. $XYZ

GC Wealth Management RIA LLC lessened its stake in Block, Inc. (NYSE:XYZ) by 27.0% in the first quarter, HoldingsChannel reports. The firm owned 44,912 shares of the technology company’s stock after selling 16,611 shares during the period. GC Wealth Management RIA LLC’s holdings in Block were worth $2,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Baird Financial Group Inc. bought a new stake in shares of Block in the second quarter worth $1,866,000. Brown Advisory Inc. purchased a new stake in Block during the second quarter valued at $516,000. Jump Financial LLC bought a new position in Block in the second quarter valued at about $385,000. Federated Hermes Inc. bought a new position in Block in the second quarter valued at about $53,000. Finally, Cerity Partners LLC purchased a new position in Block in the second quarter worth about $1,861,000. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Price Performance

NYSE XYZ opened at $77.19 on Friday. The company has a market capitalization of $45.94 billion, a PE ratio of 60.31, a price-to-earnings-growth ratio of 0.96 and a beta of 2.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.99 and a current ratio of 1.99. The business’s fifty day moving average is $74.44 and its 200 day moving average is $67.07. Block, Inc. has a fifty-two week low of $48.21 and a fifty-two week high of $84.08.

Block (NYSE:XYZ) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.55. The business had revenue of $6.06 billion during the quarter. Block had a return on equity of 7.02% and a net margin of 3.30%.The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 EPS. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. Sell-side analysts predict that Block, Inc. will post 2.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on XYZ shares. KeyCorp boosted their price target on Block from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday. BMO Capital Markets increased their price objective on shares of Block from $78.00 to $85.00 and gave the stock a “market perform” rating in a research note on Wednesday. BTIG Research reissued a “buy” rating and issued a $90.00 price objective on shares of Block in a report on Friday, May 8th. Needham & Company LLC raised their price objective on shares of Block from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Cantor Fitzgerald boosted their target price on shares of Block from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday. Four 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 stock. Based on data from MarketBeat, Block currently has an average rating of “Moderate Buy” and a consensus price target of $89.84.

Insider Activity

In related news, insider Brian Grassadonia sold 43,348 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $80.00, for a total value of $3,467,840.00. Following the completion of the sale, the insider directly owned 557,654 shares of the company’s stock, valued at approximately $44,612,320. This represents a 7.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Mathew Eisen sold 135,750 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $76.81, for a total transaction of $10,426,957.50. Following the sale, the director 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 323,300 shares of company stock valued at $24,742,756 in the last ninety days. Corporate insiders own 11.37% of the company’s stock.

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.