HighPoint Advisor Group LLC trimmed its position in shares of Square Inc (NYSE:SQ) by 21.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,006 shares of the technology company’s stock after selling 6,538 shares during the period. HighPoint Advisor Group LLC’s holdings in Square were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SQ. Strs Ohio bought a new position in shares of Square in the fourth quarter worth $110,000. Harvest Fund Management Co. Ltd bought a new position in shares of Square in the fourth quarter worth $131,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Square in the fourth quarter worth $139,000. American International Group Inc. bought a new position in shares of Square in the fourth quarter worth $200,000. Finally, Commerce Bank bought a new position in shares of Square in the fourth quarter worth $201,000. 52.05% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on SQ. Vetr raised Square from a “hold” rating to a “buy” rating and set a $57.03 price target for the company in a report on Monday. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $45.00 price target on shares of Square in a report on Thursday, March 1st. Guggenheim reaffirmed a “buy” rating and issued a $50.00 price target on shares of Square in a report on Thursday, March 1st. Citigroup reaffirmed an “outperform” rating and issued a $52.00 price target (up from $41.00) on shares of Square in a report on Thursday, March 1st. Finally, Canaccord Genuity raised their price target on Square from $33.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $42.70.
Shares of Square Inc (NYSE SQ) opened at $54.49 on Tuesday. Square Inc has a 12-month low of $16.11 and a 12-month high of $55.89. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market capitalization of $21,755.98, a PE ratio of -340.56 and a beta of 4.56.
Square (NYSE:SQ) last released its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.01. Square had a negative return on equity of 6.60% and a negative net margin of 2.84%. The business had revenue of $616.04 million for the quarter, compared to the consensus estimate of $601.63 million. equities research analysts forecast that Square Inc will post 0.02 EPS for the current fiscal year.
In other news, insider Hillary B. Smith sold 1,551 shares of Square stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $35.12, for a total value of $54,471.12. Following the transaction, the insider now owns 487,482 shares in the company, valued at $17,120,367.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Sarah Friar sold 38,400 shares of Square stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $41.46, for a total value of $1,592,064.00. Following the completion of the transaction, the chief financial officer now owns 349,123 shares in the company, valued at approximately $14,474,639.58. The disclosure for this sale can be found here. Insiders have sold 1,350,074 shares of company stock worth $61,071,884 in the last 90 days. Company insiders own 32.68% of the company’s stock.
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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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