Bank of New York Mellon Corp Decreases Position in Block, Inc. $XYZ

Bank of New York Mellon Corp reduced its position in Block, Inc. (NYSE:XYZ) by 29.4% in the 4th quarter, Holdings Channel reports. The firm owned 3,040,651 shares of the technology company’s stock after selling 1,269,152 shares during the quarter. Bank of New York Mellon Corp’s holdings in Block were worth $197,916,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in XYZ. Vanguard Group Inc. grew its stake in Block by 23.1% during the 3rd quarter. Vanguard Group Inc. now owns 67,626,485 shares of the technology company’s stock valued at $4,887,366,000 after acquiring an additional 12,709,824 shares in the last quarter. Geode Capital Management LLC grew its stake in Block by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 14,406,899 shares of the technology company’s stock valued at $934,121,000 after acquiring an additional 67,560 shares in the last quarter. Sands Capital Management LLC grew its stake in Block by 12.2% during the 3rd quarter. Sands Capital Management LLC now owns 11,603,057 shares of the technology company’s stock valued at $838,553,000 after acquiring an additional 1,262,317 shares in the last quarter. Capital World Investors grew its stake in Block by 192.7% during the 3rd quarter. Capital World Investors now owns 11,296,224 shares of the technology company’s stock valued at $816,378,000 after acquiring an additional 7,436,380 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in Block during the 2nd quarter valued at about $535,305,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Brian Grassadonia sold 8,166 shares of Block stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $68.01, for a total value of $555,369.66. Following the completion of the transaction, the insider owned 601,002 shares in the company, valued at approximately $40,874,146.02. This trade represents a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Owen Britton Jennings sold 1,316 shares of Block stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $68.54, for a total value of $90,198.64. Following the completion of the transaction, the insider owned 479,662 shares of the company’s stock, valued at $32,876,033.48. The trade was a 0.27% 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 quarter, insiders have sold 181,680 shares of company stock valued at $13,774,881. Corporate insiders own 11.37% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on XYZ. Zacks Research lowered Block from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Needham & Company LLC boosted their price objective on Block from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Canaccord Genuity Group boosted their price objective on Block from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Rothschild & Co Redburn raised Block from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $45.00 to $55.00 in a research note on Wednesday, March 18th. Finally, Royal Bank Of Canada lifted their target price on shares of Block from $90.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.12.

Block Stock Down 3.7%

Shares of NYSE:XYZ opened at $68.25 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market capitalization of $40.62 billion, a PE ratio of 53.32, a price-to-earnings-growth ratio of 0.92 and a beta of 2.56. The firm’s 50-day moving average is $68.17 and its two-hundred day moving average is $64.06. Block, Inc. has a 1 year low of $48.21 and a 1 year high of $82.50.

Block (NYSE:XYZ) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.55. The company had revenue of $6.06 billion for the quarter. Block had a net margin of 3.30% and a return on equity of 7.02%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.56 earnings per share. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. Analysts predict that Block, Inc. will post 2.42 EPS for the current 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.