Square, Inc. (NYSE:SQ) shares rose 15.3% during trading on Monday . The company traded as high as $51.10 and last traded at $50.42, approximately 25,484,837 shares changed hands during trading. An increase of 93% from the average daily volume of 13,231,621 shares. The stock had previously closed at $43.72.
A number of research analysts have recently issued reports on the stock. Credit Suisse Group lifted their target price on shares of Square from $84.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Zacks Investment Research lowered shares of Square from a “buy” rating to a “hold” rating and set a $59.00 target price for the company. in a report on Tuesday, March 31st. Rosenblatt Securities decreased their price target on shares of Square from $72.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, March 24th. KeyCorp decreased their price target on shares of Square from $90.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, March 23rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Square from $86.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eighteen have assigned a buy rating to the stock. Square has a consensus rating of “Hold” and a consensus target price of $66.38.
The company has a market capitalization of $19.03 billion, a P/E ratio of 64.64 and a beta of 2.82. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average is $63.63 and its two-hundred day moving average is $65.36.
In other Square news, insider Jacqueline D. Reses sold 5,596 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $70.98, for a total transaction of $397,204.08. Following the sale, the insider now owns 229,652 shares in the company, valued at approximately $16,300,698.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian Grassadonia sold 8,305 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $46.91, for a total transaction of $389,587.55. Following the sale, the insider now directly owns 118,736 shares of the company’s stock, valued at $5,569,905.76. The disclosure for this sale can be found here. Insiders have sold a total of 33,901 shares of company stock worth $2,190,192 over the last three months. 21.79% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors grew its stake in shares of Square by 86.1% during the fourth quarter. Capital World Investors now owns 17,798,895 shares of the technology company’s stock worth $1,113,499,000 after acquiring an additional 8,237,229 shares during the last quarter. Bares Capital Management Inc. grew its holdings in Square by 6.6% in the 4th quarter. Bares Capital Management Inc. now owns 5,185,949 shares of the technology company’s stock valued at $324,433,000 after buying an additional 321,411 shares in the last quarter. ARK Investment Management LLC grew its holdings in Square by 9.5% in the 4th quarter. ARK Investment Management LLC now owns 3,747,978 shares of the technology company’s stock valued at $234,474,000 after buying an additional 323,893 shares in the last quarter. Norges Bank purchased a new position in shares of Square during the 4th quarter worth $228,755,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Square by 9.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,422,268 shares of the technology company’s stock worth $214,097,000 after purchasing an additional 284,583 shares during the period. Hedge funds and other institutional investors own 58.59% of the company’s stock.
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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