Lake Street Financial LLC acquired a new position in Square, Inc. (NYSE:SQ) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,215 shares of the technology company’s stock, valued at approximately $261,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Wedbush Securities Inc. boosted its position in Square by 3.4% during the third quarter. Wedbush Securities Inc. now owns 26,746 shares of the technology company’s stock worth $1,657,000 after purchasing an additional 867 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Square by 13.0% in the third quarter. Envestnet Asset Management Inc. now owns 42,253 shares of the technology company’s stock valued at $2,618,000 after acquiring an additional 4,854 shares during the period. McCollum Christoferson Group LLC bought a new stake in shares of Square in the third quarter valued at approximately $4,667,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Square by 9.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 879,852 shares of the technology company’s stock valued at $54,507,000 after acquiring an additional 74,521 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its position in shares of Square by 22.2% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 549,393 shares of the technology company’s stock valued at $34,035,000 after acquiring an additional 99,959 shares during the period. Hedge funds and other institutional investors own 55.77% of the company’s stock.
Shares of SQ stock opened at $60.45 on Friday. The stock has a market cap of $27.08 billion, a P/E ratio of 3,022.50, a price-to-earnings-growth ratio of 22.80 and a beta of 3.40. Square, Inc. has a one year low of $49.82 and a one year high of $83.20. The stock has a fifty day moving average price of $60.82 and a 200 day moving average price of $68.23. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 1.49.
In other Square news, insider Alyssa Henry sold 20,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $61.86, for a total transaction of $1,237,200.00. Following the completion of the transaction, the insider now directly owns 442,168 shares in the company, valued at $27,352,512.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline D. Reses sold 5,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $81.83, for a total value of $409,150.00. Following the transaction, the insider now owns 373,984 shares of the company’s stock, valued at $30,603,110.72. The disclosure for this sale can be found here. Insiders have sold 47,048 shares of company stock valued at $2,979,489 over the last quarter. Corporate insiders own 21.79% of the company’s stock.
Several research firms have recently weighed in on SQ. SunTrust Banks raised Square from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Argus began coverage on Square in a research report on Monday, July 8th. They issued a “buy” rating and a $94.00 price objective for the company. Canaccord Genuity cut Square from a “buy” rating to a “hold” rating and reduced their price objective for the company from $88.00 to $64.00 in a research report on Thursday, September 12th. Wedbush set a $75.00 price objective on Square and gave the company a “hold” rating in a research report on Tuesday, September 17th. Finally, Moffett Nathanson raised Square from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seventeen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $74.39.
Square Company Profile
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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