GWM Advisors LLC increased its position in Square, Inc. (NYSE:SQ) by 67.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,050 shares of the technology company’s stock after purchasing an additional 4,065 shares during the quarter. GWM Advisors LLC’s holdings in Square were worth $1,055,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Red Spruce Capital LLC increased its stake in Square by 4.0% in the 2nd quarter. Red Spruce Capital LLC now owns 9,844 shares of the technology company’s stock worth $1,033,000 after buying an additional 378 shares in the last quarter. Kistler Tiffany Companies LLC increased its holdings in Square by 29.3% during the second quarter. Kistler Tiffany Companies LLC now owns 3,393 shares of the technology company’s stock valued at $356,000 after buying an additional 768 shares during the period. Wells Fargo & Company MN increased its holdings in Square by 5.7% during the first quarter. Wells Fargo & Company MN now owns 2,166,981 shares of the technology company’s stock valued at $113,507,000 after buying an additional 117,105 shares during the period. KMG Fiduciary Partners LLC increased its holdings in Square by 7.1% during the second quarter. KMG Fiduciary Partners LLC now owns 17,300 shares of the technology company’s stock valued at $1,815,000 after buying an additional 1,154 shares during the period. Finally, Ellevest Inc. increased its holdings in Square by 39.8% during the first quarter. Ellevest Inc. now owns 888 shares of the technology company’s stock valued at $47,000 after buying an additional 253 shares during the period. Hedge funds and other institutional investors own 62.65% of the company’s stock.
Several brokerages recently issued reports on SQ. Raymond James lowered shares of Square from a “market perform” rating to an “underperform” rating in a report on Thursday, April 16th. KeyCorp lifted their price objective on shares of Square from $70.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Argus lifted their price objective on shares of Square from $80.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 11th. CSFB lifted their price objective on shares of Square from $73.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $121.00 price target on shares of Square in a report on Wednesday, July 8th. Six research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $83.37.
In other Square news, CAO Ajmere Dale sold 2,000 shares of the company’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $100.00, for a total value of $200,000.00. Following the completion of the transaction, the chief accounting officer now owns 49,315 shares in the company, valued at $4,931,500. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sivan Whiteley sold 2,013 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $107.00, for a total transaction of $215,391.00. Following the completion of the transaction, the insider now owns 140,989 shares of the company’s stock, valued at approximately $15,085,823. The disclosure for this sale can be found here. Insiders have sold 38,357 shares of company stock valued at $2,827,782 over the last 90 days. 21.79% of the stock is currently owned by insiders.
NYSE SQ opened at $129.85 on Friday. The company has a market capitalization of $57.05 billion, a PE ratio of 206.11 and a beta of 2.69. The company has a fifty day moving average of $112.87 and a 200 day moving average of $80.52. Square, Inc. has a 1 year low of $32.33 and a 1 year high of $133.81. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.19 and a quick ratio of 2.19.
Square (NYSE:SQ) last posted its earnings results on Wednesday, May 6th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.30 billion. Square had a net margin of 5.99% and a return on equity of 0.44%. The company’s revenue for the quarter was up 44.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Research analysts expect that Square, Inc. will post -0.53 earnings per share for the current year.
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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