Tiger Global Management Reduces $164M in Block, Inc. ($XYZ)
Key Points
- Tiger Global Management changed its Block, Inc. ($XYZ) stake by 37.2% last quarter, cutting to 4,000,000 shares worth $278.08 million.
- Wall Street's consensus rating on $XYZ is Buy and an average price target of $90.40.
- $XYZ last traded around $69.52.
Tiger Global Management reduced its position in Block, Inc. ($XYZ) by 37.2% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,000,000 shares of Block, Inc. after selling 2,364,840 shares during the quarter. Tiger Global Management's holdings in Block, Inc. were worth $278.08 million as of its most recent filing.
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About Block, Inc.
Block, Inc., together with its subsidiaries, builds ecosystems focused on commerce and financial products and services in the United States and internationally. It operates through two segments: Square and Cash App. The Square segment offers managed payment services; software solutions; hardware products, such as registers, terminals, stands, and readers for contactless and chips; banking services consisting of lending, instant transfer, and checking and savings accounts; and full-service setup and support services. This segment also provides loyalty, marketing, team management, and payroll services; and gift cards. It also offers Square Handheld, a portable point-of sale device for transaction purposes. The Cash App segment offers financial tools, including peer-to-peer payments, bitcoin, and stock investment brokerage; Cash App Card, a debit card; Cash App Pay, mobile-friendly way for cash app customers to pay at merchants across online and in-person channels; direct deposit, stock brokerage, and tax preparation services; and Afterpay, a buy now, pay later platform. In addition, the company operates TIDAL, a platform for musicians and fans; TBD, an open developer platform focused on making the decentralized financial world accessible; Bitkey, a self-custody bitcoin wallet; and proto. The company was formerly known as Square, Inc. and changed its name to Block, Inc. in December 2021. Block, Inc. was incorporated in 2009 and is based in Oakland, California.
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