Square (SQ) Trading Down 2.9% After Insider Selling

Shares of Square, Inc. (NYSE:SQ) were down 2.9% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $73.66 and last traded at $73.06. Approximately 437,487 shares were traded during trading, a decline of 98% from the average daily volume of 21,308,960 shares. The stock had previously closed at $75.23.

Specifically, CEO Jack Dorsey sold 103,035 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Alyssa Henry sold 75,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $72.42, for a total value of $5,431,500.00. Following the sale, the insider now owns 519,544 shares in the company, valued at approximately $37,625,376.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,300,650 shares of company stock worth $187,755,700. 27.99% of the stock is owned by corporate insiders.

SQ has been the topic of several recent research reports. Morgan Stanley increased their price target on Square from $43.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, July 19th. Royal Bank of Canada increased their price target on Square to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 2nd. Evercore ISI set a $101.00 price target on Square and gave the stock an “outperform” rating in a report on Friday, September 21st. Deutsche Bank increased their price target on Square from $57.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. Finally, Wolfe Research initiated coverage on Square in a report on Tuesday, July 17th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Square currently has a consensus rating of “Hold” and an average target price of $79.76.

The company has a market capitalization of $33.94 billion, a P/E ratio of -732.70 and a beta of 4.30. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.18 and a quick ratio of 2.18.

Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm 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 company’s quarterly revenue was up 67.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 earnings per share. As a group, analysts anticipate that Square, Inc. will post -0.04 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in shares of Square by 149.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 85,723 shares of the technology company’s stock valued at $7,656,000 after acquiring an additional 51,400 shares during the last quarter. CIBC World Markets Inc. increased its position in shares of Square by 89.6% during the third quarter. CIBC World Markets Inc. now owns 99,268 shares of the technology company’s stock valued at $9,829,000 after acquiring an additional 46,900 shares during the last quarter. FIL Ltd increased its position in shares of Square by 75.2% during the third quarter. FIL Ltd now owns 2,965,450 shares of the technology company’s stock valued at $293,609,000 after acquiring an additional 1,272,790 shares during the last quarter. JFS Wealth Advisors LLC increased its position in shares of Square by 769.2% during the third quarter. JFS Wealth Advisors LLC now owns 2,260 shares of the technology company’s stock valued at $224,000 after acquiring an additional 2,000 shares during the last quarter. Finally, TTP Investments Inc. increased its position in shares of Square by 345.9% during the third quarter. TTP Investments Inc. now owns 42,337 shares of the technology company’s stock valued at $4,192,000 after acquiring an additional 32,842 shares during the last quarter. 51.25% of the stock is owned by hedge funds and other institutional investors.

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Square Company Profile (NYSE:SQ)

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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