Prospera Financial Services Inc lifted its stake in Square, Inc. (NYSE:SQ) by 223.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,919 shares of the technology company’s stock after acquiring an additional 13,061 shares during the period. Prospera Financial Services Inc’s holdings in Square were worth $1,985,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of SQ. Golden State Wealth Management LLC acquired a new stake in Square during the first quarter worth $32,000. TRUE Private Wealth Advisors boosted its stake in Square by 516.4% during the first quarter. TRUE Private Wealth Advisors now owns 1,541 shares of the technology company’s stock worth $80,000 after buying an additional 1,291 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in Square during the first quarter worth $4,059,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Square by 1.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,649 shares of the technology company’s stock worth $1,029,000 after buying an additional 316 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its stake in Square by 72.1% during the first quarter. Centaurus Financial Inc. now owns 4,582 shares of the technology company’s stock worth $240,000 after buying an additional 1,919 shares in the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.
A number of equities research analysts have weighed in on SQ shares. Argus lifted their price target on shares of Square from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Nomura reissued a “hold” rating and set a $49.00 price objective on shares of Square in a report on Thursday, May 7th. Moffett Nathanson lifted their price objective on Square from $90.00 to $120.00 in a report on Wednesday, July 1st. BMO Capital Markets lifted their price objective on Square from $116.00 to $153.00 and gave the company a “market perform” rating in a report on Friday, August 7th. They noted that the move was a valuation call. Finally, Bank of America cut Square from a “neutral” rating to an “underperform” rating and set a $84.00 price objective for the company. in a report on Monday, May 18th. Five research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $107.35.
In other news, Director Paul Deighton sold 20,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $141.60, for a total transaction of $2,832,000.00. Following the completion of the transaction, the director now directly owns 45,316 shares in the company, valued at approximately $6,416,745.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Ajmere Dale sold 6,106 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $90.78, for a total value of $554,302.68. Following the transaction, the chief accounting officer now owns 57,021 shares of the company’s stock, valued at $5,176,366.38. The disclosure for this sale can be found here. Insiders have sold a total of 38,130 shares of company stock valued at $4,666,779 over the last 90 days. Corporate insiders own 21.79% of the company’s stock.
NYSE:SQ traded up $6.70 on Thursday, hitting $157.07. 358,129 shares of the stock were exchanged, compared to its average volume of 12,189,310. The stock has a market capitalization of $66.99 billion, a price-to-earnings ratio of 254.71 and a beta of 2.72. Square, Inc. has a 52 week low of $32.33 and a 52 week high of $158.43. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.70 and a current ratio of 1.70. The company’s 50-day moving average price is $129.57 and its 200 day moving average price is $87.30.
Square (NYSE:SQ) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.41. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Square had a negative return on equity of 1.20% and a net margin of 5.15%. The company’s quarterly revenue was up 63.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. As a group, equities research analysts predict that Square, Inc. will post -0.29 earnings per share for the current year.
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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