Commerce Bank Boosts Position in Square, Inc. (SQ)

Commerce Bank increased its position in Square, Inc. (NYSE:SQ) by 18.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,929 shares of the technology company’s stock after purchasing an additional 1,395 shares during the period. Commerce Bank’s holdings in Square were worth $884,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SQ. Centaurus Financial Inc. acquired a new position in Square in the second quarter worth about $100,000. Huntington National Bank boosted its stake in Square by 1,725.0% in the second quarter. Huntington National Bank now owns 1,825 shares of the technology company’s stock valued at $112,000 after acquiring an additional 1,725 shares during the period. Rehmann Capital Advisory Group boosted its stake in Square by 649.8% in the second quarter. Rehmann Capital Advisory Group now owns 2,317 shares of the technology company’s stock valued at $143,000 after acquiring an additional 2,008 shares during the period. Thompson Davis & CO. Inc. boosted its stake in Square by 736.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,510 shares of the technology company’s stock valued at $155,000 after acquiring an additional 2,210 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Square in the third quarter valued at approximately $155,000. Institutional investors and hedge funds own 51.25% of the company’s stock.

In related news, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $73.93, for a total transaction of $7,617,377.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ajmere Dale sold 4,096 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $89.99, for a total value of $368,599.04. Following the sale, the insider now directly owns 93,255 shares in the company, valued at approximately $8,392,017.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,300,650 shares of company stock valued at $187,755,700. Insiders own 27.99% of the company’s stock.

A number of equities analysts have commented on SQ shares. Morgan Stanley lifted their target price on Square from $43.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, July 19th. Royal Bank of Canada lifted their target price on Square to $82.00 and gave the company an “outperform” rating in a research note on Thursday, August 2nd. Evercore ISI set a $101.00 target price on Square and gave the company an “outperform” rating in a research note on Friday, September 21st. Deutsche Bank lifted their target price on Square from $57.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Finally, Wolfe Research started coverage on Square in a research note on Tuesday, July 17th. They issued a “market perform” rating for the company. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Square currently has a consensus rating of “Hold” and a consensus target price of $79.76.

Shares of NYSE SQ opened at $73.27 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.18 and a quick ratio of 2.18. The company has a market cap of $33.94 billion, a PE ratio of -732.70 and a beta of 4.30. Square, Inc. has a 12-month low of $34.14 and a 12-month high of $101.15.

Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The business had revenue of $431.00 million during the quarter, compared to the consensus estimate of $414.19 million. Square had a negative return on equity of 1.18% and a negative net margin of 0.87%. The business’s revenue was up 67.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. On average, analysts predict that Square, Inc. will post -0.04 earnings per share for the current year.

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About Square

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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