United Capital Financial Advisers LLC trimmed its stake in Square, Inc. (NYSE:SQ) by 43.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,937 shares of the technology company’s stock after selling 4,566 shares during the period. United Capital Financial Advisers LLC’s holdings in Square were worth $292,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Square by 18.4% during the 4th quarter. BlackRock Inc. now owns 13,005,859 shares of the technology company’s stock valued at $450,913,000 after acquiring an additional 2,024,019 shares in the last quarter. State Treasurer State of Michigan boosted its position in shares of Square by 82.2% during the 1st quarter. State Treasurer State of Michigan now owns 2,540,500 shares of the technology company’s stock valued at $124,993,000 after acquiring an additional 1,146,219 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Square by 121.7% during the 1st quarter. Hsbc Holdings PLC now owns 1,523,396 shares of the technology company’s stock valued at $74,951,000 after acquiring an additional 836,256 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Square during the 1st quarter valued at about $40,131,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Square by 20.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,347,685 shares of the technology company’s stock valued at $213,906,000 after acquiring an additional 752,364 shares in the last quarter. Institutional investors own 52.14% of the company’s stock.
Shares of NYSE SQ opened at $61.64 on Friday. Square, Inc. has a 1-year low of $22.66 and a 1-year high of $69.40. The stock has a market capitalization of $24.08 billion, a price-to-earnings ratio of -616.40 and a beta of 4.32. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.
Square (NYSE:SQ) last announced its earnings results on Wednesday, May 2nd. The technology company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. Square had a negative net margin of 2.96% and a negative return on equity of 7.03%. The company had revenue of $307.00 million during the quarter, compared to the consensus estimate of $293.07 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The company’s revenue was up 50.5% on a year-over-year basis. equities research analysts anticipate that Square, Inc. will post 0.01 earnings per share for the current year.
Several analysts have recently weighed in on the stock. Nomura lifted their target price on shares of Square from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, June 21st. KeyCorp reiterated an “overweight” rating and set a $70.00 target price (up from $55.00) on shares of Square in a research report on Tuesday, June 19th. Wells Fargo & Co lifted their target price on shares of Square from $42.00 to $60.00 and gave the company an “underperform” rating in a research report on Thursday, June 14th. Raymond James began coverage on shares of Square in a report on Friday, June 15th. They set a “market perform” rating for the company. They noted that the move was a valuation call. Finally, Buckingham Research downgraded shares of Square from a “buy” rating to a “neutral” rating and lifted their price target for the company from $55.00 to $65.00 in a report on Wednesday, June 13th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-one have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $51.43.
In related news, insider Jacqueline D. Reses sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $47.51, for a total transaction of $712,650.00. Following the completion of the sale, the insider now directly owns 594,541 shares of the company’s stock, valued at $28,246,642.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $46.90, for a total transaction of $18,760,000.00. Following the sale, the director now directly owns 468,223 shares of the company’s stock, valued at $21,959,658.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,250,315 shares of company stock valued at $68,079,756. Insiders own 27.99% of the company’s stock.
Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.
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