Jack Dorsey Sells 103,035 Shares of Square, Inc. (SQ) Stock

Square, Inc. (NYSE:SQ) CEO Jack Dorsey sold 103,035 shares of the company’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $71.78, for a total transaction of $7,395,852.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Jack Dorsey also recently made the following trade(s):

  • On Wednesday, October 24th, Jack Dorsey sold 103,035 shares of Square stock. The shares were sold at an average price of $73.48, for a total transaction of $7,571,011.80.
  • On Wednesday, October 17th, Jack Dorsey sold 103,035 shares of Square stock. The shares were sold at an average price of $77.30, for a total transaction of $7,964,605.50.
  • On Wednesday, October 10th, Jack Dorsey sold 103,035 shares of Square stock. The shares were sold at an average price of $80.38, for a total transaction of $8,281,953.30.
  • On Wednesday, October 3rd, Jack Dorsey sold 103,035 shares of Square stock. The shares were sold at an average price of $97.67, for a total transaction of $10,063,428.45.
  • On Wednesday, September 26th, Jack Dorsey sold 103,035 shares of Square stock. The stock was sold at an average price of $95.28, for a total transaction of $9,817,174.80.
  • On Wednesday, September 19th, Jack Dorsey sold 103,035 shares of Square stock. The stock was sold at an average price of $87.31, for a total transaction of $8,995,985.85.
  • On Wednesday, September 12th, Jack Dorsey sold 103,035 shares of Square stock. The stock was sold at an average price of $90.40, for a total transaction of $9,314,364.00.
  • On Wednesday, September 5th, Jack Dorsey sold 103,035 shares of Square stock. The stock was sold at an average price of $89.71, for a total transaction of $9,243,269.85.
  • On Wednesday, August 29th, Jack Dorsey sold 103,035 shares of Square stock. The stock was sold at an average price of $83.85, for a total transaction of $8,639,484.75.
  • On Wednesday, August 22nd, Jack Dorsey sold 103,035 shares of Square stock. The stock was sold at an average price of $76.02, for a total transaction of $7,832,720.70.

SQ traded up $1.02 on Friday, reaching $77.76. The company’s stock had a trading volume of 13,553,648 shares, compared to its average volume of 21,836,422. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $30.15 billion, a price-to-earnings ratio of -777.60 and a beta of 4.29. Square, Inc. has a fifty-two week low of $34.14 and a fifty-two week high of $101.15.

Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.14. The firm had revenue of $385.00 million during the quarter, compared to the consensus estimate of $367.99 million. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. The firm’s quarterly revenue was up 60.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 earnings per share. On average, equities analysts anticipate that Square, Inc. will post -0.04 EPS for the current fiscal year.

A number of brokerages have issued reports on SQ. Buckingham Research upgraded shares of Square from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $85.00 in a research note on Monday, August 6th. Credit Suisse Group upgraded shares of Square from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $44.00 to $81.00 in a research note on Thursday, July 19th. Oppenheimer lowered shares of Square from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 10th. Guggenheim upped their target price on shares of Square from $75.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, August 29th. Finally, Canaccord Genuity upgraded shares of Square from a “hold” rating to a “buy” rating and upped their target price for the stock from $60.00 to $90.00 in a research note on Friday, October 12th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $72.64.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Centaurus Financial Inc. acquired a new position in Square in the second quarter valued at approximately $100,000. Huntington National Bank boosted its holdings in Square by 1,725.0% in the second quarter. Huntington National Bank now owns 1,825 shares of the technology company’s stock valued at $112,000 after purchasing an additional 1,725 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in Square by 649.8% in the second quarter. Rehmann Capital Advisory Group now owns 2,317 shares of the technology company’s stock valued at $143,000 after purchasing an additional 2,008 shares in the last quarter. Thompson Davis & CO. Inc. boosted its holdings in Square by 736.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,510 shares of the technology company’s stock valued at $155,000 after purchasing an additional 2,210 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Square in the third quarter valued at approximately $155,000. 51.63% of the stock is owned by hedge funds and other institutional investors.

About Square

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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