Traders Sell Shares of Square (SQ) on Strength After Insider Selling

Traders sold shares of Square Inc (NYSE:SQ) on strength during trading hours on Thursday after an insider sold shares in the company. $159.34 million flowed into the stock on the tick-up and $237.69 million flowed out of the stock on the tick-down, for a money net flow of $78.35 million out of the stock. Of all stocks tracked, Square had the 0th highest net out-flow for the day. Square traded up $0.82 for the day and closed at $37.01Specifically, CFO Sarah Friar sold 19,200 shares of Square stock in a transaction on Wednesday, September 20th. The stock was 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 in the company, valued at approximately $10,400,986.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary G. Meeker sold 51,422 shares of Square stock in a transaction on Friday, December 1st. The shares were sold at an average price of $38.25, for a total value of $1,966,891.50. The disclosure for this sale can be found here. Insiders sold a total of 1,529,827 shares of company stock worth $56,341,434 over the last quarter. Company insiders own 32.68% of the company’s stock.

Several research analysts recently weighed in on SQ shares. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, October 3rd. Tigress Financial restated a “buy” rating on shares of Square in a research note on Monday, September 25th. Vetr downgraded Square from a “strong-buy” rating to a “buy” rating and set a $30.12 target price on the stock. in a research note on Tuesday, September 12th. Royal Bank of Canada restated 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 Square from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $33.88.

The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48.

Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The business had revenue of $257.12 million during the quarter, compared to analysts’ expectations of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 EPS. equities analysts expect that Square Inc will post -0.16 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of SQ. FMR LLC raised its holdings 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 during the period. Vanguard Group Inc. raised its holdings 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 during the period. Goldman Sachs Group Inc. raised its holdings 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 during the period. Capital World Investors raised its holdings 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 during the period. Finally, Allianz Asset Management GmbH raised its holdings 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 during the period. 54.31% of the stock is owned by institutional investors and hedge funds.

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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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