Square (SQ) Trading Up 8%

Square Inc (NYSE:SQ) was up 8% on Friday . The company traded as high as $41.15 and last traded at $41.14. Approximately 31,012,419 shares were traded during trading, an increase of 67% from the average daily volume of 18,573,266 shares. The stock had previously closed at $38.10.

A number of equities research analysts have weighed in on SQ shares. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, October 3rd. Tigress Financial reiterated a “buy” rating on shares of Square in a research note on Monday, September 25th. Vetr lowered shares of Square from a “strong-buy” rating to a “buy” rating and set a $30.12 target price for the company. in a research note on Tuesday, September 12th. Royal Bank of Canada reiterated a “buy” rating and set a $31.00 target price on shares of Square in a research note on Sunday, October 8th. Finally, Citigroup boosted their target price on shares of Square from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $34.83.

The company has a market cap of $15,990.00 and a price-to-earnings ratio of -242.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 1.81.

Square (NYSE:SQ) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $257.12 million during 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%. Square’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 EPS. sell-side analysts predict that Square Inc will post -0.15 EPS for the current year.

In other Square news, CAO Ajmere Dale sold 17,446 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $38.98, for a total value of $680,045.08. Following the sale, the chief accounting officer now owns 134,518 shares in the company, valued at approximately $5,243,511.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $32.72, for a total transaction of $13,088,000.00. Following the completion of the sale, the director now owns 507,732 shares in the company, valued at approximately $16,612,991.04. The disclosure for this sale can be found here. Insiders sold a total of 1,668,081 shares of company stock valued at $61,992,018 in the last ninety days. 32.68% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in SQ. FMR LLC lifted its stake in Square by 114.7% in the 2nd quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock worth $560,427,000 after purchasing an additional 12,764,491 shares in the last quarter. Vanguard Group Inc. lifted its stake in Square by 73.4% in the 2nd quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock worth $446,558,000 after purchasing an additional 8,058,892 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Square by 556.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock worth $107,786,000 after purchasing an additional 3,894,639 shares in the last quarter. Capital World Investors lifted its stake in Square by 32.8% in the 2nd quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock worth $365,925,000 after purchasing an additional 3,853,000 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Square by 31.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 13,302,170 shares of the technology company’s stock worth $383,235,000 after purchasing an additional 3,147,558 shares in the last quarter. Institutional investors and hedge funds own 54.20% of the company’s stock.

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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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