Traders sold shares of Square Inc (NYSE:SQ) on strength during trading on Thursday after an insider sold shares in the company. $157.94 million flowed into the stock on the tick-up and $189.02 million flowed out of the stock on the tick-down, for a money net flow of $31.08 million out of the stock. Of all equities tracked, Square had the 21st highest net out-flow for the day. Square traded up $0.23 for the day and closed at $54.84Specifically, insider Ajmere Dale sold 1,451 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $40.00, for a total value of $58,040.00. Following the completion of the sale, the insider now directly owns 109,586 shares of the company’s stock, valued at approximately $4,383,440. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Hillary B. Smith sold 75,103 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $37.56, for a total value of $2,820,868.68. Following the completion of the sale, the insider now directly owns 563,798 shares of the company’s stock, valued at $21,176,252.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,425,177 shares of company stock valued at $63,892,753. Insiders own 32.68% of the company’s stock.
A number of brokerages recently issued reports on SQ. Vetr raised Square from a “hold” rating to a “buy” rating and set a $56.24 target price for the company in a research report on Tuesday. Piper Jaffray Companies reissued a “hold” rating and issued a $45.00 target price on shares of Square in a research report on Thursday, March 1st. Guggenheim reissued a “buy” rating and issued a $50.00 target price on shares of Square in a research report on Thursday, March 1st. Citigroup reissued an “outperform” rating and issued a $52.00 target price (up from $41.00) on shares of Square in a research report on Thursday, March 1st. Finally, Canaccord Genuity upped their target price on Square from $33.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $42.68.
The company has a market capitalization of $21,800.00 and a P/E ratio of -322.59. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.
Square (NYSE:SQ) last issued its earnings results on Tuesday, February 27th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $616.04 million during the quarter, compared to the consensus estimate of $601.63 million. Square had a negative return on equity of 6.60% and a negative net margin of 2.84%. equities research analysts predict that Square Inc will post 0.02 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of SQ. Allianz Asset Management GmbH grew its holdings in shares of 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 acquiring an additional 3,147,558 shares during the period. Jennison Associates LLC acquired a new stake in shares of Square in the 4th quarter worth approximately $86,426,000. BlackRock Inc. grew its holdings in shares of Square by 18.4% in the 4th quarter. BlackRock Inc. now owns 13,005,859 shares of the technology company’s stock worth $450,913,000 after acquiring an additional 2,024,019 shares during the period. UBS Asset Management Americas Inc. grew its holdings in shares of Square by 458.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,962,828 shares of the technology company’s stock worth $68,051,000 after acquiring an additional 1,611,446 shares during the period. Finally, Whale Rock Capital Management LLC acquired a new stake in shares of Square in the 3rd quarter worth approximately $44,337,000. 52.21% of the stock is owned by institutional investors and hedge funds.
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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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