Square (NYSE:SQ) Reaches New 1-Year High at $127.80

Square, Inc. (NYSE:SQ)’s share price reached a new 52-week high on Monday . The stock traded as high as $127.80 and last traded at $127.77, with a volume of 4822174 shares traded. The stock had previously closed at $113.39.

A number of research firms recently commented on SQ. Atlantic Securities raised Square from an “underweight” rating to a “neutral” rating and set a $44.00 target price on the stock in a research note on Tuesday, March 17th. Zacks Investment Research raised Square from a “sell” rating to a “hold” rating and set a $84.00 target price on the stock in a research note on Monday, May 18th. Needham & Company LLC increased their target price on Square from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Piper Sandler began coverage on Square in a research note on Monday. They issued a “neutral” rating and a $131.00 target price on the stock. Finally, Wells Fargo & Co reduced their target price on Square from $90.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Five equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $78.83.

The company’s fifty day moving average price is $93.34 and its 200-day moving average price is $73.22. The stock has a market capitalization of $56.92 billion, a PE ratio of 199.37 and a beta of 2.69. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 1.17.

Square (NYSE:SQ) last released its earnings results on Wednesday, May 6th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.15). Square had a net margin of 5.99% and a return on equity of 0.44%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the business posted ($0.06) earnings per share. Square’s revenue for the quarter was up 44.0% on a year-over-year basis. Equities research analysts anticipate that Square, Inc. will post -0.56 earnings per share for the current year.

In related news, CAO Ajmere Dale sold 6,106 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $90.78, for a total transaction of $554,302.68. Following the completion of the sale, the chief accounting officer now owns 57,021 shares of the company’s stock, valued at $5,176,366.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sivan Whiteley sold 2,013 shares of Square stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $107.00, for a total transaction of $215,391.00. Following the completion of the sale, the insider now directly owns 140,989 shares of the company’s stock, valued at approximately $15,085,823. The disclosure for this sale can be found here. Insiders have sold 73,574 shares of company stock valued at $4,973,975 in the last three months. 19.90% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of SQ. Envestnet Asset Management Inc. grew its position in Square by 12.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 47,699 shares of the technology company’s stock worth $2,984,000 after purchasing an additional 5,446 shares during the period. TD Asset Management Inc. boosted its stake in shares of Square by 91.8% during the 4th quarter. TD Asset Management Inc. now owns 32,200 shares of the technology company’s stock worth $2,015,000 after acquiring an additional 15,416 shares during the last quarter. Teza Capital Management LLC purchased a new position in shares of Square during the 4th quarter worth $277,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Square by 1.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 191,119 shares of the technology company’s stock worth $11,956,000 after acquiring an additional 3,264 shares during the last quarter. Finally, Utah Retirement Systems boosted its stake in shares of Square by 1.9% during the 4th quarter. Utah Retirement Systems now owns 65,559 shares of the technology company’s stock worth $4,101,000 after acquiring an additional 1,200 shares during the last quarter. 62.71% of the stock is owned by institutional investors and hedge funds.

Square Company Profile (NYSE:SQ)

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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