Sunbelt Securities Inc. boosted its holdings in shares of Square, Inc. (NYSE:SQ) by 134.9% in the second quarter, HoldingsChannel reports. The fund owned 7,544 shares of the technology company’s stock after buying an additional 4,332 shares during the quarter. Sunbelt Securities Inc.’s holdings in Square were worth $547,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. AdvisorNet Financial Inc boosted its position in Square by 1.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 9,338 shares of the technology company’s stock worth $677,000 after acquiring an additional 140 shares during the period. Bingham Osborn & Scarborough LLC lifted its holdings in shares of Square by 0.9% during the 1st quarter. Bingham Osborn & Scarborough LLC now owns 16,673 shares of the technology company’s stock valued at $1,249,000 after buying an additional 141 shares during the last quarter. Atlantic Trust LLC lifted its holdings in shares of Square by 38.9% during the 2nd quarter. Atlantic Trust LLC now owns 521 shares of the technology company’s stock valued at $38,000 after buying an additional 146 shares during the last quarter. Aldebaran Financial Inc. lifted its holdings in shares of Square by 0.9% during the 1st quarter. Aldebaran Financial Inc. now owns 17,400 shares of the technology company’s stock valued at $1,304,000 after buying an additional 150 shares during the last quarter. Finally, Eagle Capital Management LLC lifted its holdings in shares of Square by 0.4% during the 1st quarter. Eagle Capital Management LLC now owns 39,825 shares of the technology company’s stock valued at $2,984,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.
Shares of SQ stock traded up $0.13 during trading on Thursday, reaching $61.68. The company had a trading volume of 175,149 shares, compared to its average volume of 10,052,024. The stock has a 50 day moving average price of $74.59. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.87. Square, Inc. has a one year low of $49.82 and a one year high of $101.15. The firm has a market cap of $26.17 billion, a P/E ratio of 3,087.50, a PEG ratio of 21.17 and a beta of 3.31.
Square (NYSE:SQ) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.20. Square had a positive return on equity of 2.65% and a negative net margin of 1.35%. The business had revenue of $563.00 million for the quarter, compared to the consensus estimate of $557.67 million. During the same period last year, the business earned $0.13 EPS. The firm’s revenue was up 46.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Square, Inc. will post 0.12 earnings per share for the current year.
SQ has been the subject of several research reports. SunTrust Banks lifted their price target on Square to $75.00 and gave the company a “hold” rating in a report on Friday, August 2nd. BMO Capital Markets lifted their price target on Square from $91.00 to $92.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Nomura lifted their price target on Square from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, June 28th. Morgan Stanley set a $74.00 price target on Square and gave the company a “hold” rating in a report on Friday, August 2nd. Finally, Evercore ISI lowered Square from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $101.00 to $64.00 in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have assigned a buy rating to the stock. Square currently has an average rating of “Hold” and an average target price of $84.44.
In other Square news, insider Jacqueline D. Reses sold 5,000 shares of Square stock in a transaction that occurred on 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 approximately $29,297,699.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alyssa Henry sold 20,000 shares of Square stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $70.22, for a total value of $1,404,400.00. Following the completion of the transaction, the insider now directly owns 460,132 shares in the company, valued at $32,310,469.04. The disclosure for this sale can be found here. Insiders sold a total of 57,249 shares of company stock worth $4,269,625 over the last three months. 21.79% of the stock is owned by company insiders.
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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