Square (NYSE:SQ) had its price target raised by Deutsche Bank from $37.00 to $43.00 in a research report report published on Thursday, February 15th. The brokerage currently has a buy rating on the technology company’s stock.
A number of other analysts have also recently weighed in on the stock. Goldman Sachs Group raised shares of Square to a buy rating in a report on Thursday, November 16th. Vetr upgraded shares of Square from a buy rating to a strong-buy rating and set a $39.78 target price 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 target price for the company in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Square presently has an average rating of Buy and a consensus target price of $38.07.
Shares of Square (NYSE SQ) traded down $0.04 during trading hours on Thursday, hitting $44.86. 7,881,823 shares of the company’s stock were exchanged, compared to its average volume of 14,670,000. 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 has a 52 week low of $16.11 and a 52 week high of $49.56. The firm has a market capitalization of $17,420.00 and a PE ratio of -263.88.
In related news, CEO Jack Dorsey sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $40.48, for a total value of $2,024,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ajmere Dale sold 1,451 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the completion of the transaction, the insider now owns 109,586 shares of the company’s stock, valued at $4,383,440. The disclosure for this sale can be found here. Insiders have sold a total of 1,628,341 shares of company stock valued at $65,982,753 over the last three months. Company insiders own 32.68% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. boosted its position in Square by 96.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 59,667 shares of the technology company’s stock worth $2,069,000 after acquiring an additional 29,282 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new position in Square during the 4th quarter worth approximately $1,310,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Square during the 4th quarter worth approximately $3,535,000. BB&T Securities LLC boosted its position in Square by 16.6% during the 4th quarter. BB&T Securities LLC now owns 10,902 shares of the technology company’s stock worth $377,000 after acquiring an additional 1,550 shares during the last quarter. Finally, Leonetti & Associates LLC boosted its position in Square by 5.5% during the 4th quarter. Leonetti & Associates LLC now owns 118,075 shares of the technology company’s stock worth $4,094,000 after acquiring an additional 6,150 shares during the last quarter. 53.31% of the stock is owned by hedge funds and other institutional investors.
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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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