SG Americas Securities LLC lessened its stake in shares of Square, Inc. (NYSE:SQ) by 28.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,362 shares of the technology company’s stock after selling 56,282 shares during the quarter. SG Americas Securities LLC’s holdings in Square were worth $10,666,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of SQ. Legacy Advisors LLC acquired a new stake in Square during the 1st quarter worth about $27,000. FTB Advisors Inc. acquired a new stake in Square during the 1st quarter worth about $27,000. Pinnacle Bank acquired a new stake in Square during the 1st quarter worth about $31,000. Quadrant Capital Group LLC grew its position in Square by 376.0% during the 1st quarter. Quadrant Capital Group LLC now owns 495 shares of the technology company’s stock worth $34,000 after purchasing an additional 391 shares during the period. Finally, Pearl River Capital LLC acquired a new stake in Square during the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 52.24% of the company’s stock.
A number of equities research analysts have recently commented on SQ shares. Macquarie started coverage on Square in a research report on Wednesday, March 27th. They set an “outperform” rating and a $94.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $90.00 target price (down from $95.00) on shares of Square in a research report on Thursday, May 2nd. Mizuho raised their target price on Square from $75.00 to $85.00 in a research report on Thursday, February 28th. Raymond James cut Square from a “market perform” rating to an “underperform” rating and set a $73.29 target price on the stock. in a research report on Tuesday, January 29th. Finally, SunTrust Banks raised their target price on Square to $75.00 and gave the company a “hold” rating in a research report on Thursday, February 28th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-one have assigned a buy rating to the company. Square presently has a consensus rating of “Hold” and an average target price of $86.14.
SQ stock traded up $0.54 during trading on Wednesday, hitting $66.46. The stock had a trading volume of 6,638,918 shares, compared to its average volume of 12,021,489. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.91. Square, Inc. has a twelve month low of $49.82 and a twelve month high of $101.15. The stock has a market cap of $27.88 billion, a price-to-earnings ratio of 3,323.00, a PEG ratio of 17.32 and a beta of 3.49.
Square (NYSE:SQ) last released its earnings results on Wednesday, May 1st. The technology company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.09). Square had a positive return on equity of 1.86% and a negative net margin of 1.47%. The business had revenue of $489.00 million during the quarter, compared to analysts’ expectations of $479.63 million. During the same period last year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was up 59.3% compared to the same quarter last year. As a group, equities analysts forecast that Square, Inc. will post 0.15 EPS for the current fiscal year.
In other news, insider Jacqueline D. Reses sold 5,000 shares of Square stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $68.35, for a total transaction of $341,750.00. Following the sale, the insider now owns 413,593 shares of the company’s stock, valued at approximately $28,269,081.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Ajmere Dale sold 2,048 shares of Square stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $80.00, for a total transaction of $163,840.00. Following the sale, the chief accounting officer now directly owns 79,985 shares in the company, valued at approximately $6,398,800. The disclosure for this sale can be found here. Insiders sold a total of 716,606 shares of company stock worth $54,179,892 over the last three months. Corporate insiders own 21.79% of the company’s stock.
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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