HighPoint Advisor Group LLC trimmed its holdings in shares of Square, Inc. (NYSE:SQ) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,544 shares of the technology company’s stock after selling 3,099 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Square were worth $1,102,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the stock. FMR LLC increased its position in Square by 114.7% during the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock worth $560,427,000 after acquiring an additional 12,764,491 shares during the period. Vanguard Group Inc. increased its position in Square by 73.4% during the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock worth $446,558,000 after acquiring an additional 8,058,892 shares during the period. Capital World Investors increased its position in Square by 32.8% during the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock worth $365,925,000 after acquiring an additional 3,853,000 shares during the period. Renaissance Technologies LLC increased its position in Square by 5.8% during the second quarter. Renaissance Technologies LLC now owns 9,076,600 shares of the technology company’s stock worth $212,937,000 after acquiring an additional 498,100 shares during the period. Finally, BlackRock Inc. increased its position in Square by 23.0% during the second quarter. BlackRock Inc. now owns 6,618,987 shares of the technology company’s stock worth $155,282,000 after acquiring an additional 1,235,662 shares during the period. 53.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of Square, Inc. (SQ) traded down $0.13 during midday trading on Tuesday, hitting $39.85. 8,026,231 shares of the stock were exchanged, compared to its average volume of 7,285,865. Square, Inc. has a 1 year low of $11.76 and a 1 year high of $40.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81.
Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The firm had revenue of $257.12 million for the quarter, compared to the consensus estimate of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.01 EPS. equities research analysts expect that Square, Inc. will post -0.16 EPS for the current year.
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In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $32.72, for a total value of $13,088,000.00. Following the transaction, the director now owns 507,732 shares in the company, valued at approximately $16,612,991.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sarah Friar sold 19,200 shares of Square stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $25.54, for a total transaction of $490,368.00. Following the completion of the sale, the chief financial officer now owns 366,103 shares of the company’s stock, valued at approximately $9,350,270.62. The disclosure for this sale can be found here. Insiders sold a total of 953,600 shares of company stock worth $28,343,040 in the last 90 days. Corporate insiders own 32.68% of the company’s stock.
SQ has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, October 3rd. Barclays PLC raised their target price on shares of Square from $28.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, November 9th. KeyCorp reissued an “overweight” rating on shares of Square in a report on Tuesday, July 18th. Canaccord Genuity reissued a “hold” rating and issued a $26.00 target price (up from $18.00) on shares of Square in a report on Wednesday, August 9th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $26.00 target price (up from $25.00) on shares of Square in a report on Wednesday, August 9th. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $32.28.
Square Company Profile
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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