Commonwealth Equity Services Inc Raises Stake in Square, Inc. (SQ)

Commonwealth Equity Services Inc lifted its position in shares of Square, Inc. (NYSE:SQ) by 39.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,199 shares of the technology company’s stock after purchasing an additional 14,168 shares during the quarter. Commonwealth Equity Services Inc’s holdings in Square were worth $1,446,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SQ. FMR LLC grew its holdings 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 buying an additional 12,764,491 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 buying an additional 8,058,892 shares in the last quarter. BlackRock Inc. grew its holdings in Square by 7,162.2% during the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock worth $93,023,000 after buying an additional 5,309,197 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Square by 556.5% during the second quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock worth $107,786,000 after buying an additional 3,894,639 shares in the last quarter. Finally, Capital World Investors grew its holdings 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 buying an additional 3,853,000 shares in the last quarter. 53.64% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on SQ. Credit Suisse Group reiterated a “neutral” rating and set a $26.00 price target (up previously from $25.00) on shares of Square in a report on Wednesday, August 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $31.00 price target (up previously from $24.00) on shares of Square in a report on Wednesday, August 9th. Vetr downgraded Square from a “buy” rating to a “hold” rating and set a $45.60 price target for the company. in a report on Monday, November 20th. Canaccord Genuity upped their price target on Square from $18.00 to $26.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Finally, Barclays PLC reiterated an “overweight” rating and set a $28.00 price target (up previously from $21.00) on shares of Square in a report on Wednesday, August 9th. Fourteen analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Square has an average rating of “Buy” and an average target price of $33.61.

Shares of Square, Inc. (SQ) traded up $0.05 during midday trading on Friday, hitting $48.86. The stock had a trading volume of 16,562,670 shares, compared to its average volume of 17,152,278. Square, Inc. has a 1 year low of $12.38 and a 1 year high of $49.56. 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 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The firm had revenue of $257.12 million for the quarter, compared to analysts’ expectations of $244.95 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year. research analysts expect that Square, Inc. will post -0.16 EPS for the current fiscal year.

In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $27.22, for a total transaction of $10,888,000.00. Following the transaction, the director now owns 507,385 shares of the company’s stock, valued at approximately $13,811,019.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $47.24, for a total value of $1,814,016.00. Following the transaction, the chief financial officer now directly owns 355,566 shares in the company, valued at approximately $16,796,937.84. The disclosure for this sale can be found here. Insiders have sold a total of 1,375,591 shares of company stock worth $45,952,777 in the last ninety days. Insiders own 32.68% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Commonwealth Equity Services Inc Raises Stake in Square, Inc. (SQ)” was first published by Transcript Daily and is owned by of Transcript Daily. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The original version of this news story can be viewed at https://transcriptdaily.com/2017/11/26/commonwealth-equity-services-inc-raises-stake-in-square-inc-sq.html.

Square 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.

Institutional Ownership by Quarter for Square (NYSE:SQ)

Receive News & Ratings for Square Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply