Banco Bilbao Vizcaya Argentaria S.A. Has $12.97 Million Stock Position in Block, Inc. $XYZ

Banco Bilbao Vizcaya Argentaria S.A. reduced its holdings in Block, Inc. (NYSE:XYZ) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 179,382 shares of the technology company’s stock after selling 19,737 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Block were worth $12,967,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Traub Capital Management LLC bought a new stake in shares of Block in the 2nd quarter valued at $26,000. Nemes Rush Group LLC bought a new position in Block during the second quarter worth $26,000. City Holding Co. bought a new position in Block during the third quarter worth $27,000. Cromwell Holdings LLC acquired a new stake in Block in the third quarter worth $27,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new stake in Block in the third quarter worth $28,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Stock Down 0.2%

Block stock opened at $59.78 on Monday. The firm has a market capitalization of $36.33 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 1.05 and a beta of 2.64. The firm’s fifty day moving average price is $61.00 and its two-hundred day moving average price is $67.23. Block, Inc. has a 1-year low of $44.27 and a 1-year high of $82.50. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ) last posted its earnings results on Thursday, February 26th. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.26 by $0.39. Block had a net margin of 5.40% and a return on equity of 6.66%. The company had revenue of $6.25 billion during the quarter. During the same period in the previous year, the firm earned $0.71 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts predict that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Block news, CFO Amrita Ahuja sold 1,101 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $63.98, for a total transaction of $70,441.98. Following the completion of the sale, the chief financial officer directly owned 271,864 shares of the company’s stock, valued at approximately $17,393,858.72. The trade was a 0.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Owen Britton Jennings sold 3,555 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $63.41, for a total value of $225,422.55. Following the completion of the sale, the insider directly owned 231,262 shares of the company’s stock, valued at approximately $14,664,323.42. This trade represents a 1.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,352 shares of company stock worth $1,165,720 over the last 90 days. Company insiders own 10.49% of the company’s stock.

Analyst Ratings Changes

XYZ has been the topic of several research reports. Citigroup dropped their price objective on shares of Block from $105.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Wall Street Zen upgraded Block from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Sandler decreased their target price on Block from $55.00 to $51.00 and set an “underweight” rating for the company in a research report on Wednesday, January 14th. Arete Research raised Block from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Finally, TD Cowen increased their price target on Block from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.79.

Block Company Profile

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.