Kingsview Wealth Management LLC Invests $5.11 Million in Block, Inc. $XYZ

Kingsview Wealth Management LLC purchased a new stake in shares of Block, Inc. (NYSE:XYZ) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 134,228 shares of the technology company’s stock, valued at approximately $5,111,000.

A number of other hedge funds have also recently modified their holdings of the company. Allstate Corp boosted its position in shares of Block by 91.9% in the 4th quarter. Allstate Corp now owns 39,281 shares of the technology company’s stock worth $2,557,000 after purchasing an additional 18,812 shares in the last quarter. National Pension Service increased its position in Block by 8.4% during the 4th quarter. National Pension Service now owns 833,124 shares of the technology company’s stock valued at $54,228,000 after buying an additional 64,674 shares in the last quarter. Hsbc Holdings PLC increased its position in Block by 7.2% during the 4th quarter. Hsbc Holdings PLC now owns 1,223,824 shares of the technology company’s stock valued at $79,749,000 after buying an additional 82,446 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Block in the second quarter valued at about $366,000. Finally, Mawer Investment Management Ltd. purchased a new stake in Block in the fourth quarter valued at about $3,062,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Clear Str upgraded Block to a “hold” rating in a research note on Thursday, July 16th. Wall Street Zen raised shares of Block from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Monness Crespi & Hardt lifted their target price on shares of Block from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Jefferies Financial Group began coverage on shares of Block in a research report on Tuesday, June 30th. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Block to a “buy” rating in a research note on Tuesday, June 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.84.

Insider Buying and Selling

In other Block news, CFO Amrita Ahuja sold 9,511 shares of Block stock in a transaction on Monday, August 24th. The stock was sold at an average price of $82.43, for a total value of $783,991.73. Following the sale, the chief financial officer owned 423,262 shares in the company, valued at $34,889,486.66. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Mathew Eisen sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $82.00, for a total transaction of $492,000.00. Following the completion of the transaction, the director directly owned 1,476,672 shares in the company, valued at $121,087,104. The trade was a 0.40% 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 sold a total of 501,756 shares of company stock worth $39,582,259 in the last three months. Company insiders own 11.37% of the company’s stock.

Block Price Performance

Block stock opened at $83.58 on Friday. The stock has a market capitalization of $50.21 billion, a P/E ratio of 149.25, a P/E/G ratio of 0.95 and a beta of 2.53. The company’s fifty day moving average price is $79.64 and its 200 day moving average price is $70.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21. Block, Inc. has a 1 year low of $48.21 and a 1 year high of $86.92.

Block (NYSE:XYZ) last released its quarterly earnings results 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 net margin of 1.43% and a return on equity of 8.10%. The firm had revenue of $6.62 billion during the quarter. During the same quarter last year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. 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 research analysts anticipate that Block, Inc. will post 2.69 earnings per share for the current fiscal year.

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.