Rehmann Capital Advisory Group lessened its holdings in Square, Inc. (NYSE:SQ) by 85.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 345 shares of the technology company’s stock after selling 1,972 shares during the period. Rehmann Capital Advisory Group’s holdings in Square were worth $34,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Jennison Associates LLC grew its holdings in Square by 4.0% during the 3rd quarter. Jennison Associates LLC now owns 7,193,288 shares of the technology company’s stock valued at $712,207,000 after purchasing an additional 275,166 shares in the last quarter. FIL Ltd boosted its stake in Square by 75.2% during the 3rd quarter. FIL Ltd now owns 2,965,450 shares of the technology company’s stock valued at $293,609,000 after acquiring an additional 1,272,790 shares during the last quarter. Franklin Resources Inc. boosted its stake in Square by 11.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,772,690 shares of the technology company’s stock valued at $175,514,000 after acquiring an additional 175,100 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Square by 8.7% during the 2nd quarter. Janus Henderson Group PLC now owns 1,756,402 shares of the technology company’s stock valued at $108,265,000 after acquiring an additional 140,800 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Square by 10.0% during the 2nd quarter. Northern Trust Corp now owns 1,681,310 shares of the technology company’s stock valued at $103,635,000 after acquiring an additional 153,458 shares during the last quarter. 48.07% of the stock is currently owned by institutional investors.
In other Square news, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $60.79, for a total value of $6,263,497.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ajmere Dale sold 2,048 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $71.76, for a total transaction of $146,964.48. Following the completion of the sale, the insider now directly owns 88,621 shares in the company, valued at approximately $6,359,442.96. The disclosure for this sale can be found here. Insiders have sold 2,482,286 shares of company stock worth $191,711,434 in the last ninety days. 27.99% of the stock is currently owned by insiders.
Shares of SQ stock traded down $0.44 during trading on Thursday, hitting $63.21. 245,253 shares of the company were exchanged, compared to its average volume of 15,557,341. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market cap of $25.55 billion, a P/E ratio of -631.40 and a beta of 4.24. Square, Inc. has a twelve month low of $34.14 and a twelve month high of $101.15.
Square (NYSE:SQ) last posted its earnings results on Wednesday, November 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. The firm had revenue of $431.00 million during the quarter, compared to analysts’ expectations of $414.19 million. Square had a negative net margin of 0.87% and a negative return on equity of 1.11%. The company’s revenue was up 67.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. Sell-side analysts predict that Square, Inc. will post -0.02 EPS for the current year.
SQ has been the topic of a number of recent research reports. ValuEngine upgraded shares of Square from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. Deutsche Bank raised their target price on shares of Square from $78.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Needham & Company LLC raised their target price on shares of Square from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, November 8th. Goldman Sachs Group lifted their price objective on shares of Square from $77.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Finally, Buckingham Research lifted their price objective on shares of Square from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $84.40.
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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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