Wetherby Asset Management Inc. boosted its holdings in Square, Inc. (NYSE:SQ) by 58.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,637 shares of the technology company’s stock after acquiring an additional 4,664 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Square were worth $917,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in SQ. Beirne Wealth Consulting Services LLC bought a new position in shares of Square during the second quarter worth about $272,000. Trustcore Financial Services LLC boosted its position in Square by 14.6% in the second quarter. Trustcore Financial Services LLC now owns 3,917 shares of the technology company’s stock worth $284,000 after purchasing an additional 500 shares during the last quarter. Westside Investment Management Inc. purchased a new position in Square in the second quarter worth $68,000. Daiwa Securities Group Inc. boosted its position in Square by 9.5% in the second quarter. Daiwa Securities Group Inc. now owns 34,759 shares of the technology company’s stock worth $2,521,000 after purchasing an additional 3,009 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Square in the second quarter worth $85,000. 52.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE SQ traded down $0.37 during trading on Wednesday, reaching $64.23. 218,345 shares of the stock traded hands, compared to its average volume of 9,679,424. Square, Inc. has a 52-week low of $49.82 and a 52-week high of $101.15. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a 50-day moving average of $75.95. The stock has a market cap of $27.32 billion, a PE ratio of 3,210.50, a P/E/G ratio of 18.66 and a beta of 3.31.
Square (NYSE:SQ) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.20. Square had a positive return on equity of 2.65% and a negative net margin of 1.35%. The company had revenue of $563.00 million for the quarter, compared to analyst estimates of $557.67 million. During the same period in the previous year, the company posted $0.13 EPS. The firm’s revenue for the quarter was up 46.2% compared to the same quarter last year. Equities analysts anticipate that Square, Inc. will post 0.15 earnings per share for the current year.
In related news, insider Jacqueline D. Reses sold 5,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $73.26, for a total transaction of $366,300.00. Following the sale, the insider now directly owns 399,914 shares in the company, valued at approximately $29,297,699.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alyssa Henry sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $64.20, for a total value of $1,284,000.00. Following the sale, the insider now owns 459,793 shares in the company, valued at $29,518,710.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,249 shares of company stock worth $5,553,625. 21.79% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the company. Nomura boosted their price objective on Square from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Sanford C. Bernstein assumed coverage on Square in a research report on Tuesday, April 16th. They issued a “market perform” rating and a $80.00 price objective on the stock. BTIG Research reissued a “sell” rating and issued a $30.00 price objective on shares of Square in a research report on Sunday. Argus assumed coverage on Square in a research report on Monday, July 8th. They issued a “buy” rating and a $94.00 price objective on the stock. Finally, Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $84.44.
Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.
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