Bank of New York Mellon Corp Cuts Holdings in Block, Inc. $XYZ

Key Points

• Bank of New York Mellon cut its Block stake by 8.3% in the first quarter, selling 252,761 shares and leaving it with 2,787,890 shares valued at about $167.8 million.
• Block reported strong quarterly results, posting EPS of $0.85 versus the $0.30 consensus estimate and revenue of $6.06 billion, while raising guidance for Q2 2026 and FY 2026.
• Analyst sentiment remains mostly positive, with several firms lifting price targets; the stock currently has a Moderate Buy consensus and an average price target of $88.64.

Bank of New York Mellon Corp decreased its holdings in Block, Inc. (NYSE:XYZ - Free Report) by 8.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,787,890 shares of the technology company's stock after selling 252,761 shares during the period. Bank of New York Mellon Corp owned about 0.47% of Block worth $167,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Capital World Investors raised its position in shares of Block by 41.8% in the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company's stock worth $1,042,966,000 after acquiring an additional 4,727,217 shares in the last quarter. Geode Capital Management LLC boosted its position in Block by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 14,406,899 shares of the technology company's stock valued at $934,121,000 after purchasing an additional 67,560 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in Block in the second quarter valued at about $535,305,000. Norges Bank purchased a new position in Block in the fourth quarter valued at about $484,387,000. Finally, Tiger Global Management LLC grew its stake in Block by 43.9% in the fourth quarter. Tiger Global Management LLC now owns 6,364,840 shares of the technology company's stock valued at $414,287,000 after purchasing an additional 1,941,528 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company's stock.

Block Price Performance

Shares of NYSE XYZ opened at $80.00 on Friday. Block, Inc. has a fifty-two week low of $48.21 and a fifty-two week high of $84.08. The company has a market cap of $47.62 billion, a PE ratio of 62.50, a P/E/G ratio of 1.01 and a beta of 2.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.99 and a current ratio of 1.99. The business has a 50-day simple moving average of $73.76 and a two-hundred day simple moving average of $66.62.

Block (NYSE:XYZ - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.55. The firm 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 business's revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. As a group, equities analysts expect that Block, Inc. will post 2.48 EPS for the current fiscal year.

Analyst Ratings Changes

XYZ has been the subject of several analyst reports. Citigroup increased their price target on shares of Block from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday. Oppenheimer downgraded shares of Block from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 30th. Canaccord Genuity Group boosted their price objective on shares of Block from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, May 18th. Truist Financial increased their target price on shares of Block from $81.00 to $82.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada raised their target price on shares of Block from $90.00 to $93.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Six research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.64.

Insider Buying and Selling at Block

In other Block news, insider Brian Grassadonia sold 43,348 shares of the firm's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $80.00, for a total value of $3,467,840.00. Following the completion of the transaction, the insider owned 557,654 shares of the company's stock, valued at approximately $44,612,320. This trade represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Mathew Eisen sold 135,750 shares of Block stock in a transaction on Monday, June 1st. The stock was sold at an average price of $76.81, for a total transaction of $10,426,957.50. Following the sale, the director owned 2,032,990 shares of the company's stock, valued at $156,153,961.90. The trade was a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 357,219 shares of company stock worth $27,286,681. 11.37% of the stock is owned by corporate insiders.

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.

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