World Asset Management Inc increased its position in Square, Inc. (NYSE:SQ) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,790 shares of the technology company’s stock after acquiring an additional 974 shares during the period. World Asset Management Inc’s holdings in Square were worth $783,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lenox Wealth Management Inc. acquired a new stake in Square during the 1st quarter valued at $25,000. Legacy Advisors LLC acquired a new stake in Square during the 1st quarter valued at $27,000. FTB Advisors Inc. acquired a new stake in Square during the 1st quarter valued at $27,000. Larson Financial Group LLC grew its holdings in Square by 130.7% during the 2nd quarter. Larson Financial Group LLC now owns 376 shares of the technology company’s stock valued at $27,000 after buying an additional 213 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in Square during the 1st quarter valued at $28,000. Institutional investors and hedge funds own 52.06% of the company’s stock.
Shares of SQ traded down $11.38 during trading hours on Friday, hitting $69.60. The stock had a trading volume of 43,696,160 shares, compared to its average volume of 6,864,466. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $34.01 billion, a price-to-earnings ratio of 3,480.00, a P/E/G ratio of 21.55 and a beta of 3.31. The stock has a fifty day simple moving average of $76.34. Square, Inc. has a 12-month low of $49.82 and a 12-month high of $101.15.
Square (NYSE:SQ) last issued its earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.20. The business had revenue of $563.00 million for the quarter, compared to analyst estimates of $557.67 million. Square had a positive return on equity of 1.86% and a negative net margin of 1.47%. The business’s quarterly revenue was up 46.2% on a year-over-year basis. During the same period last year, the company posted $0.13 EPS. As a group, sell-side analysts expect that Square, Inc. will post 0.15 EPS for the current year.
In other Square news, insider Jacqueline D. Reses sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $73.26, for a total value of $366,300.00. Following the transaction, the insider now directly owns 399,914 shares of the company’s stock, valued at $29,297,699.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ajmere Dale sold 2,296 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $60.86, for a total value of $139,734.56. Following the completion of the transaction, the insider now directly owns 79,725 shares in the company, valued at $4,852,063.50. The disclosure for this sale can be found here. Insiders sold a total of 72,249 shares of company stock worth $5,144,475 over the last ninety days. Corporate insiders own 21.79% of the company’s stock.
A number of equities research analysts have commented on SQ shares. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Tuesday, May 7th. ValuEngine upgraded Square from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. SunTrust Banks increased their price target on Square to $75.00 and gave the stock a “hold” rating in a research note on Friday. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target (down previously from $95.00) on shares of Square in a research note on Thursday, May 2nd. Finally, BMO Capital Markets reduced their price target on Square to $90.00 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty have issued a buy rating to the company. Square has a consensus rating of “Buy” and a consensus price target of $87.40.
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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