LPL Financial LLC trimmed its holdings in Square Inc (NYSE:SQ) by 13.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,893 shares of the technology company’s stock after selling 11,037 shares during the quarter. LPL Financial LLC’s holdings in Square were worth $2,527,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Strs Ohio purchased a new stake in Square during the fourth quarter valued at about $110,000. Harvest Fund Management Co. Ltd purchased a new stake in Square during the fourth quarter valued at about $131,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Square during the fourth quarter valued at about $139,000. American International Group Inc. purchased a new stake in Square during the fourth quarter valued at about $200,000. Finally, Commerce Bank purchased a new stake in Square during the fourth quarter valued at about $201,000. 52.06% of the stock is owned by institutional investors.
In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $39.79, for a total transaction of $15,916,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Hillary B. Smith sold 1,551 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $35.12, for a total value of $54,471.12. Following the transaction, the insider now owns 487,482 shares in the company, valued at approximately $17,120,367.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,360,657 shares of company stock worth $62,384,945. Corporate insiders own 32.68% of the company’s stock.
Square (NYSE:SQ) last announced its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Square had a negative return on equity of 6.60% and a negative net margin of 2.84%. The company had revenue of $616.04 million for the quarter, compared to the consensus estimate of $601.63 million. sell-side analysts anticipate that Square Inc will post 0.02 earnings per share for the current fiscal year.
SQ has been the subject of a number of research analyst reports. Cowen initiated coverage on shares of Square in a research report on Monday, December 11th. They issued a “market perform” rating and a $36.00 price target for the company. They noted that the move was a valuation call. Morgan Stanley increased their price target on shares of Square from $26.00 to $40.00 and gave the stock a “hold” rating in a research report on Tuesday, December 19th. They noted that the move was a valuation call. Buckingham Research initiated coverage on shares of Square in a research report on Thursday, January 4th. They issued a “buy” rating and a $42.00 price target for the company. Barclays reissued a “buy” rating and issued a $43.00 price target on shares of Square in a research report on Friday, January 5th. Finally, Stephens reissued a “buy” rating and issued a $41.00 price target on shares of Square in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.48.
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Square Company Profile
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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