Fairfield Bush & CO. lifted its position in shares of Square, Inc. (NYSE:SQ) by 438.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the technology company’s stock after buying an additional 5,700 shares during the quarter. Fairfield Bush & CO.’s holdings in Square were worth $431,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lincoln National Corp grew its holdings in shares of Square by 13.7% during the second quarter. Lincoln National Corp now owns 6,327 shares of the technology company’s stock worth $390,000 after buying an additional 764 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Square by 19.2% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 5,341 shares of the technology company’s stock worth $329,000 after buying an additional 861 shares in the last quarter. Northstar Capital Management LLC grew its holdings in shares of Square by 1.2% during the second quarter. Northstar Capital Management LLC now owns 76,435 shares of the technology company’s stock worth $4,711,000 after buying an additional 901 shares in the last quarter. Horan Capital Management grew its holdings in shares of Square by 7.2% during the second quarter. Horan Capital Management now owns 14,900 shares of the technology company’s stock worth $918,000 after buying an additional 1,000 shares in the last quarter. Finally, Resources Investment Advisors Inc. grew its holdings in shares of Square by 54.4% during the second quarter. Resources Investment Advisors Inc. now owns 2,980 shares of the technology company’s stock worth $184,000 after buying an additional 1,050 shares in the last quarter. Institutional investors and hedge funds own 51.95% of the company’s stock.
In other news, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $90.40, for a total transaction of $9,314,364.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ajmere Dale sold 4,096 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $89.99, for a total transaction of $368,599.04. Following the transaction, the insider now directly owns 93,255 shares in the company, valued at $8,392,017.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,461,146 shares of company stock worth $108,304,866. Corporate insiders own 27.99% of the company’s stock.
Shares of SQ stock opened at $90.82 on Monday. The company has a market cap of $37.12 billion, a price-to-earnings ratio of -908.20 and a beta of 4.36. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.18 and a current ratio of 2.18. Square, Inc. has a fifty-two week low of $27.21 and a fifty-two week high of $92.92.
Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.14. The firm had revenue of $385.00 million for the quarter, compared to analysts’ expectations of $367.99 million. Square had a negative net margin of 2.30% and a negative return on equity of 3.18%. Square’s revenue was up 60.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 earnings per share. equities research analysts anticipate that Square, Inc. will post -0.04 earnings per share for the current fiscal year.
SQ has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their target price on shares of Square from $53.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, May 23rd. Needham & Company LLC boosted their target price on shares of Square from $58.00 to $65.00 and gave the company a “buy” rating in a report on Friday, June 1st. Cantor Fitzgerald restated a “buy” rating and issued a $69.00 target price (up from $51.00) on shares of Square in a report on Friday, June 1st. Stifel Nicolaus boosted their target price on shares of Square from $55.00 to $66.00 and gave the company a “buy” rating in a report on Monday, June 4th. Finally, Buckingham Research downgraded shares of Square from a “buy” rating to a “neutral” rating and boosted their target price 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. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.51.
Square Company Profile
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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