Carmignac Gestion Has $97.81 Million Holdings in Block, Inc. $XYZ

by · The Markets Daily

Carmignac Gestion cut its holdings in shares of Block, Inc. (NYSE:XYZ – Free Report) by 60.2% during the second quarter, Holdings Channel reports. The fund owned 1,287,026 shares of the technology company’s stock after selling 1,946,800 shares during the period. Block makes up about 1.3% of Carmignac Gestion’s portfolio, making the stock its 23rd biggest position. Carmignac Gestion’s holdings in Block were worth $97,814,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Block

In related news, insider Owen Jennings sold 1,317 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $81.48, for a total value of $107,309.16. Following the transaction, the insider directly owned 460,128 shares in the company, valued at $37,491,229.44. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 Block stock in a transaction on Monday, August 24th. The stock was sold at an average price of $82.43, for a total transaction of $783,991.73. Following the sale, the chief financial officer directly owned 423,262 shares of the company’s stock, valued at $34,889,486.66. This represents a 2.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 378,006 shares of company stock valued at $30,286,001. 11.37% of the stock is currently owned by corporate insiders.

Block Trading Down 3.3%

XYZ stock traded down $2.73 during midday trading on Tuesday, reaching $80.03. The stock had a trading volume of 3,321,519 shares, compared to its average volume of 6,510,004. The business has a fifty day simple moving average of $80.53 and a two-hundred day simple moving average of $71.64. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26. The firm has a market cap of $48.08 billion, a price-to-earnings ratio of 142.90, a PEG ratio of 0.87 and a beta of 2.52. Block, Inc. has a twelve month low of $48.21 and a twelve month high of $86.92.

Block (NYSE:XYZ – Get Free Report) 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 firm had revenue of $6.62 billion during the quarter. During the same period in the prior year, the firm posted $0.62 earnings per share. The business’s revenue for the quarter 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, research analysts expect that Block, Inc. will post 2.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on XYZ shares. Piper Sandler lifted their price target on Block from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Wolfe Research increased their price objective on shares of Block from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Robert W. Baird set a $105.00 price objective on shares of Block in a research report on Thursday, August 6th. Royal Bank Of Canada boosted their target price on shares of Block from $93.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Rosenblatt Securities set a $100.00 target price on shares of Block in a research report on Tuesday, June 30th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Block currently has an average rating of “Moderate Buy” and a consensus price target of $95.42.

Read Our Latest Research Report on Block

About Block

(Free Report)

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.

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