Gibbs Wealth Management Invests $592,000 in Block, Inc. $XYZ

Gibbs Wealth Management bought a new position in shares of Block, Inc. (NYSE:XYZ) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 9,835 shares of the technology company’s stock, valued at approximately $592,000.

Several other institutional investors also recently bought and sold shares of the stock. Ameriprise Financial Inc. acquired a new position in Block in the second quarter valued at approximately $535,305,000. Norges Bank acquired a new stake in shares of Block during the 4th quarter worth approximately $484,387,000. Viking Global Investors LP purchased a new position in shares of Block during the 2nd quarter valued at approximately $368,213,000. Capital World Investors increased its holdings in shares of Block by 41.8% during the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock valued at $1,042,966,000 after purchasing an additional 4,727,217 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Block by 241.4% in the 3rd quarter. Invesco Ltd. now owns 3,778,298 shares of the technology company’s stock valued at $273,058,000 after purchasing an additional 2,671,713 shares during the period. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Price Performance

NYSE:XYZ opened at $77.19 on Friday. Block, Inc. has a one year low of $48.21 and a one year high of $84.08. 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 stock has a market cap of $45.94 billion, a PE ratio of 60.31, a P/E/G ratio of 0.97 and a beta of 2.54. The stock has a 50 day moving average price of $74.44 and a 200 day moving average price of $67.07.

Block (NYSE:XYZ) last issued its earnings results 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. Block had a return on equity of 7.02% and a net margin of 3.30%.The company had revenue of $6.06 billion during the quarter. During the same quarter in the previous year, the company earned $0.56 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. Equities research analysts expect that Block, Inc. will post 2.48 EPS for the current fiscal year.

Insider Activity

In related news, CFO Amrita Ahuja sold 8,093 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $75.00, for a total value of $606,975.00. Following the completion of the sale, the chief financial officer owned 463,246 shares of the company’s stock, valued at approximately $34,743,450. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 43,348 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $80.00, for a total transaction of $3,467,840.00. Following the completion of the transaction, the insider directly owned 557,654 shares of the company’s stock, valued at $44,612,320. This represents a 7.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 323,300 shares of company stock valued at $24,742,756. 11.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Needham & Company LLC upped their price objective on shares of Block from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Jefferies Financial Group started coverage on Block in a research report on Tuesday, June 30th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft raised shares of Block to a “buy” rating in a research note on Tuesday, June 30th. Oppenheimer lowered Block from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Finally, Piper Sandler raised Block from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $58.00 to $100.00 in a research note on Monday, June 29th. Four analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.84.

Block 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.