Harvest Fund Management Co. Ltd Sells 2,143 Shares of Square, Inc. (NYSE:SQ)

Harvest Fund Management Co. Ltd lowered its stake in shares of Square, Inc. (NYSE:SQ) by 39.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,292 shares of the technology company’s stock after selling 2,143 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Square were worth $796,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kistler Tiffany Companies LLC boosted its stake in Square by 3.3% during the second quarter. Kistler Tiffany Companies LLC now owns 3,745 shares of the technology company’s stock worth $913,000 after buying an additional 120 shares in the last quarter. Segantii Capital Management Ltd acquired a new stake in Square during the first quarter worth $4,496,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Square during the first quarter worth $4,037,000. Belpointe Asset Management LLC boosted its stake in shares of Square by 11.5% in the 2nd quarter. Belpointe Asset Management LLC now owns 7,391 shares of the technology company’s stock valued at $1,803,000 after purchasing an additional 763 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Square by 7.3% in the 2nd quarter. Parallel Advisors LLC now owns 8,492 shares of the technology company’s stock valued at $2,070,000 after purchasing an additional 579 shares in the last quarter. 62.65% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Square from a “sell” rating to a “hold” rating and set a $296.00 target price on the stock in a research note on Friday, August 6th. Moffett Nathanson reiterated a “buy” rating and set a $300.00 price target on shares of Square in a research report on Friday, July 9th. BTIG Research upped their price target on shares of Square from $295.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, August 3rd. TheStreet raised Square from a “c” rating to a “b-” rating in a report on Tuesday, August 17th. Finally, BMO Capital Markets boosted their price objective on Square from $225.00 to $259.00 and gave the stock a “market perform” rating in a report on Tuesday, August 3rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $270.58.

SQ stock traded down $1.60 during trading hours on Friday, hitting $253.49. 108,208 shares of the stock were exchanged, compared to its average volume of 9,438,704. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $116.53 billion, a P/E ratio of 224.96, a P/E/G ratio of 9.78 and a beta of 2.43. The company has a 50-day simple moving average of $259.49 and a two-hundred day simple moving average of $241.06. Square, Inc. has a 12 month low of $139.31 and a 12 month high of $289.23.

Square (NYSE:SQ) last issued its quarterly earnings results on Saturday, July 31st. The technology company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.35. Square had a return on equity of 16.94% and a net margin of 3.60%. The company had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter last year, the business earned $0.18 earnings per share. Square’s revenue was up 143.3% on a year-over-year basis. On average, equities research analysts predict that Square, Inc. will post 0.81 earnings per share for the current year.

In other news, CFO Amrita Ahuja sold 5,827 shares of Square stock in a transaction dated Wednesday, June 23rd. The stock was sold at an average price of $239.82, for a total transaction of $1,397,431.14. Following the sale, the chief financial officer now directly owns 155,644 shares of the company’s stock, valued at $37,326,544.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 500 shares of Square stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of $270.00, for a total value of $135,000.00. The disclosure for this sale can be found here. Insiders sold 493,992 shares of company stock worth $124,873,619 in the last 90 days. 15.12% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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