National Asset Management Inc. reduced its position in Square, Inc. (NYSE:SQ) by 12.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,895 shares of the technology company’s stock after selling 3,538 shares during the quarter. National Asset Management Inc.’s holdings in Square were worth $3,965,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Sandy Spring Bank grew its holdings in shares of Square by 123.9% during the 2nd quarter. Sandy Spring Bank now owns 253 shares of the technology company’s stock worth $27,000 after purchasing an additional 140 shares during the period. Clear Harbor Asset Management LLC purchased a new position in Square in the third quarter valued at about $41,000. Blue Square Asset Management LLC acquired a new position in shares of Square during the second quarter worth about $42,000. Hall Laurie J Trustee acquired a new position in shares of Square during the third quarter worth about $49,000. Finally, University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Square in the second quarter worth about $52,000. Institutional investors and hedge funds own 66.29% of the company’s stock.
Shares of NYSE:SQ traded up $9.83 during trading hours on Tuesday, hitting $188.99. The stock had a trading volume of 136,596 shares, compared to its average volume of 12,546,794. The stock’s fifty day simple moving average is $176.38 and its 200 day simple moving average is $131.72. The firm has a market capitalization of $79.46 billion, a price-to-earnings ratio of 288.97 and a beta of 2.68. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.70 and a current ratio of 1.70. Square, Inc. has a 1-year low of $32.33 and a 1-year high of $201.33.
Square (NYSE:SQ) last posted its earnings results on Thursday, November 5th. The technology company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.16 by $0.18. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Square had a negative return on equity of 1.20% and a net margin of 5.15%. The firm’s revenue was up 139.6% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. As a group, research analysts anticipate that Square, Inc. will post -0.23 EPS for the current year.
In related news, insider Sivan Whiteley sold 2,662 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $167.81, for a total transaction of $446,710.22. Following the sale, the insider now owns 138,268 shares of the company’s stock, valued at $23,202,753.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Amrita Ahuja sold 5,942 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $191.73, for a total value of $1,139,259.66. Following the completion of the sale, the chief financial officer now owns 162,940 shares of the company’s stock, valued at $31,240,486.20. The disclosure for this sale can be found here. Insiders have sold 581,819 shares of company stock worth $100,603,974 over the last three months. Corporate insiders own 21.79% of the company’s stock.
A number of equities analysts have weighed in on SQ shares. Deutsche Bank Aktiengesellschaft upped their price target on Square from $180.00 to $215.00 in a report on Tuesday, October 27th. Wells Fargo & Company upped their target price on shares of Square from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. Royal Bank of Canada raised their price target on shares of Square from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, October 16th. Compass Point upgraded shares of Square from a “sell” rating to a “neutral” rating and set a $140.00 price objective on the stock in a report on Thursday, August 6th. Finally, Mizuho initiated coverage on shares of Square in a research report on Wednesday, August 26th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $149.85.
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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