Block, Inc. sees significant institutional investment activity

Several institutional investors have recently modified their positions in Block, Inc. according to recent filings with the Securities and Exchange Commission.

NewEdge Wealth LLC acquired 17,388 shares during the second quarter, valued at approximately $662,000. TCM Advisors LLC also established a new position in the second quarter, purchasing 15,500 shares worth roughly $590,000.

Other significant institutional activity includes BlackRock Inc., which purchased a position valued at approximately $621,703,000 in the second quarter. Capital World Investors increased its holdings by 41.8% in the fourth quarter, bringing its total ownership to over 16 million shares. Additionally, Norges Bank and Ameriprise Financial Inc. reported new stakes in the company during recent quarters.

Hedge funds and other institutional investors currently hold 70.44% of Block, Inc. stock. Regarding analyst sentiment, Susquehanna raised its price target for the company from $90.00 to $100.00, while the Royal Bank of Canada increased its price objective to $95.00.