Proficio Capital Partners LLC Invests $245,000 in Block, Inc. $XYZ

Proficio Capital Partners LLC bought a new position in shares of Block, Inc. (NYSE:XYZ) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,422 shares of the technology company’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also bought and sold shares of XYZ. Elevation Wealth Partners LLC raised its position in shares of Block by 301.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company’s stock worth $30,000 after acquiring an additional 292 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of Block during the 1st quarter valued at about $31,000. Cary Street Partners Investment Advisory LLC boosted its position in shares of Block by 57.6% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company’s stock valued at $40,000 after purchasing an additional 223 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in Block during the second quarter worth approximately $43,000. Finally, Osbon Capital Management LLC acquired a new stake in Block during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Activity

In related news, insider Brian Grassadonia sold 43,348 shares of the company’s 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 transaction, the insider directly owned 557,654 shares in the company, valued at approximately $44,612,320. This represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 9,511 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $82.43, for a total transaction of $783,991.73. Following the sale, the chief financial officer owned 423,262 shares in the company, valued at approximately $34,889,486.66. This trade represents a 2.20% 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. Over the last ninety days, insiders sold 501,756 shares of company stock worth $39,582,259. 11.37% of the stock is owned by company insiders.

Block Stock Down 1.5%

XYZ opened at $83.58 on Friday. Block, Inc. has a twelve month low of $48.21 and a twelve month high of $86.92. The company’s 50-day moving average price is $79.64 and its two-hundred day moving average price is $70.09. The stock has a market cap of $50.21 billion, a price-to-earnings ratio of 149.25, a PEG ratio of 0.93 and a beta of 2.53. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.54. Block had a return on equity of 8.10% and a net margin of 1.43%.The company had revenue of $6.62 billion during the quarter. During the same period last year, the business posted $0.62 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. As a group, equities analysts expect that Block, Inc. will post 2.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

XYZ has been the subject of several research analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of Block in a research note on Wednesday, August 5th. William Blair cut shares of Block to a “market perform” rating in a report on Tuesday, June 30th. Craig Hallum assumed coverage on shares of Block in a research note on Tuesday, June 30th. They issued a “buy” rating for the company. Needham & Company LLC lifted their price target on shares of Block from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Susquehanna upped their price objective on shares of Block from $90.00 to $100.00 and gave the company a “positive” rating in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Block presently has an average rating of “Moderate Buy” and a consensus target price of $95.84.

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.