Investors Sell Square (SQ) on Strength Following Insider Selling

Traders sold shares of Square, Inc. (NYSE:SQ) on strength during trading on Friday following insider selling activity. $307.25 million flowed into the stock on the tick-up and $333.22 million flowed out of the stock on the tick-down, for a money net flow of $25.97 million out of the stock. Of all companies tracked, Square had the 0th highest net out-flow for the day. Square traded up $1.02 for the day and closed at $77.76Specifically, insider Ajmere Dale sold 4,096 shares of Square stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $89.99, for a total transaction of $368,599.04. Following the sale, the insider now directly owns 93,255 shares of the company’s stock, valued at $8,392,017.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jack Dorsey sold 103,035 shares of Square stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $71.78, for a total value of $7,395,852.30. The disclosure for this sale can be found here. Insiders have sold 2,595,740 shares of company stock worth $207,911,396 over the last three months. Insiders own 27.99% of the company’s stock.

A number of equities analysts recently commented on SQ shares. JPMorgan Chase & Co. lifted their price objective on Square from $45.00 to $46.00 and gave the stock a “$71.60” rating in a research note on Monday, July 23rd. Needham & Company LLC lifted their price objective on Square from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Stifel Nicolaus lifted their price objective on Square from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Deutsche Bank lifted their price objective on Square from $57.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Square in a research note on Friday, July 13th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $72.64.

The company has a debt-to-equity ratio of 0.99, a current ratio of 2.18 and a quick ratio of 2.18. The company has a market cap of $31.91 billion, a PE ratio of -777.60 and a beta of 4.30.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Square by 3.8% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 46,500 shares of the technology company’s stock valued at $4,604,000 after acquiring an additional 1,700 shares in the last quarter. BP PLC bought a new stake in shares of Square during the third quarter valued at approximately $3,118,000. American Century Companies Inc. increased its holdings in shares of Square by 87.2% during the third quarter. American Century Companies Inc. now owns 1,549,633 shares of the technology company’s stock valued at $153,429,000 after acquiring an additional 721,843 shares in the last quarter. Buckingham Asset Management LLC bought a new stake in shares of Square during the third quarter valued at approximately $302,000. Finally, CIBC Asset Management Inc increased its holdings in shares of Square by 5.3% during the third quarter. CIBC Asset Management Inc now owns 14,784 shares of the technology company’s stock valued at $1,464,000 after acquiring an additional 738 shares in the last quarter. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

About Square (NYSE:SQ)

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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