Avestar Capital LLC trimmed its holdings in shares of Square, Inc. (NYSE:SQ) by 36.4% in the second quarter, Holdings Channel.com reports. The fund owned 4,652 shares of the technology company’s stock after selling 2,660 shares during the quarter. Avestar Capital LLC’s holdings in Square were worth $488,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Hoylecohen LLC lifted its position in shares of Square by 17.4% in the second quarter. Hoylecohen LLC now owns 7,920 shares of the technology company’s stock worth $831,000 after purchasing an additional 1,175 shares in the last quarter. Malaga Cove Capital LLC grew its stake in shares of Square by 50.2% in the second quarter. Malaga Cove Capital LLC now owns 11,996 shares of the technology company’s stock valued at $1,259,000 after acquiring an additional 4,008 shares in the last quarter. SlateStone Wealth LLC acquired a new position in shares of Square in the second quarter valued at about $2,559,000. GWM Advisors LLC grew its stake in shares of Square by 67.9% in the second quarter. GWM Advisors LLC now owns 10,050 shares of the technology company’s stock valued at $1,055,000 after acquiring an additional 4,065 shares in the last quarter. Finally, Cornerstone Advisors Inc. grew its stake in shares of Square by 20.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,863 shares of the technology company’s stock valued at $196,000 after acquiring an additional 318 shares in the last quarter. 62.65% of the stock is owned by institutional investors.
NYSE SQ opened at $129.85 on Friday. The stock has a market capitalization of $56.73 billion, a price-to-earnings ratio of 206.11 and a beta of 2.69. Square, Inc. has a one year low of $32.33 and a one year high of $133.81. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.19 and a quick ratio of 2.19. The business’s fifty day moving average is $112.87 and its 200-day moving average is $80.52.
Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.15). Square had a return on equity of 0.44% and a net margin of 5.99%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the business posted ($0.06) EPS. The company’s revenue was up 44.0% compared to the same quarter last year. Research analysts expect that Square, Inc. will post -0.53 EPS for the current fiscal year.
Several equities analysts recently commented on SQ shares. CSFB upped their price target on shares of Square from $73.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Credit Suisse Group upped their price objective on shares of Square from $73.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Zacks Investment Research cut shares of Square from a “hold” rating to a “strong sell” rating and set a $132.00 price objective for the company. in a research report on Wednesday, July 8th. Canaccord Genuity upped their price objective on shares of Square from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $150.00 price objective (up previously from $83.00) on shares of Square in a research report on Monday, July 6th. Six research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and seventeen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $83.37.
In other Square news, insider Sivan Whiteley sold 2,013 shares of Square stock in a transaction dated 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 transaction, the insider now owns 140,989 shares of the company’s stock, valued at approximately $15,085,823. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline D. Reses sold 24,255 shares of Square stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $63.20, for a total value of $1,532,916.00. Following the transaction, the insider now directly owns 242,100 shares of the company’s stock, valued at approximately $15,300,720. The disclosure for this sale can be found here. Insiders have sold a total of 38,357 shares of company stock valued at $2,827,782 in the last ninety days. Insiders own 21.79% of the company’s stock.
Square Company Profile
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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