Insight Capital Research & Management Inc. decreased its holdings in Square Inc (NYSE:SQ) by 22.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 112,468 shares of the technology company’s stock after selling 32,163 shares during the quarter. Square accounts for about 1.8% of Insight Capital Research & Management Inc.’s holdings, making the stock its 10th biggest holding. Insight Capital Research & Management Inc.’s holdings in Square were worth $3,240,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Almanack Investment Partners LLC. purchased a new position in Square in the second quarter worth approximately $117,000. Riverhead Capital Management LLC purchased a new position in Square in the second quarter worth approximately $149,000. Hudock Capital Group LLC purchased a new position in Square in the third quarter worth approximately $157,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Square by 19.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,099 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Square by 42.2% in the second quarter. Pacer Advisors Inc. now owns 8,368 shares of the technology company’s stock worth $196,000 after acquiring an additional 2,485 shares during the last quarter. 54.31% of the stock is owned by institutional investors and hedge funds.
Shares of Square Inc (SQ) traded up $0.21 during trading on Tuesday, hitting $38.30. 15,780,100 shares of the stock were exchanged, compared to its average volume of 9,224,652. Square Inc has a fifty-two week low of $13.53 and a fifty-two week 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 announced its 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. The business had revenue of $257.12 million for the quarter, compared to analysts’ expectations of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The company’s quarterly revenue was up 44.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. equities research analysts expect that Square Inc will post -0.16 EPS for the current fiscal year.
SQ has been the subject of several recent analyst reports. Goldman Sachs Group upgraded shares of Square to a “buy” rating in a research report on Thursday, November 16th. Vetr upgraded shares of Square from a “buy” rating to a “strong-buy” rating and set a $39.78 price objective for the company in a research report on Wednesday, October 25th. Evercore ISI upgraded shares of Square from an “in-line” rating to an “outperform” rating and set a $51.00 price objective for the company in a research report on Friday, November 17th. Stephens restated an “overweight” rating and set a $38.00 price objective (up previously from $34.00) on shares of Square in a research report on Thursday, November 9th. They noted that the move was a valuation call. Finally, Guggenheim upgraded shares of Square from a “neutral” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $33.88.
In other Square news, CFO Sarah Friar sold 19,200 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $28.41, for a total value of $545,472.00. Following the transaction, the chief financial officer now directly owns 366,103 shares of the company’s stock, valued at approximately $10,400,986.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $680,045.08. Following the completion of the transaction, the chief accounting officer now directly owns 134,518 shares in the company, valued at $5,243,511.64. The disclosure for this sale can be found here. Insiders sold a total of 1,129,827 shares of company stock worth $41,081,434 over the last three months. 32.68% of the stock is currently owned by corporate insiders.
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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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