Summit Wealth & Retirement Planning Inc. Buys New Holdings in Square, Inc. (NYSE:SQ)

Summit Wealth & Retirement Planning Inc. purchased a new position in Square, Inc. (NYSE:SQ) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,149 shares of the technology company’s stock, valued at approximately $250,000.

Other large investors have also recently made changes to their positions in the company. Baron Financial Group LLC acquired a new position in shares of Square during the third quarter valued at about $29,000. Neo Ivy Capital Management bought a new position in Square in the 3rd quarter valued at about $29,000. Arlington Partners LLC acquired a new position in Square during the 4th quarter valued at about $30,000. Resources Management Corp CT ADV increased its holdings in Square by 1,000.0% during the 3rd quarter. Resources Management Corp CT ADV now owns 220 shares of the technology company’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. Finally, Community Bank N.A. bought a new stake in Square during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 64.01% of the company’s stock.

Several research analysts recently issued reports on the company. Evercore ISI lifted their target price on Square from $300.00 to $304.00 and gave the company an “average” rating in a research report on Thursday, January 14th. Wolfe Research lifted their price objective on shares of Square from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. Morgan Stanley upped their target price on shares of Square from $44.00 to $203.00 and gave the stock an “equal weight” rating in a research note on Monday, November 30th. Zacks Investment Research raised shares of Square from a “hold” rating to a “strong-buy” rating and set a $278.00 price target on the stock in a research report on Monday, January 11th. Finally, Wedbush upped their price objective on shares of Square from $140.00 to $200.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 15th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $184.70.

NYSE SQ traded down $18.42 during trading hours on Tuesday, hitting $249.66. The company had a trading volume of 385,936 shares, compared to its average volume of 9,132,852. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market capitalization of $112.58 billion, a price-to-earnings ratio of 425.53, a PEG ratio of 29.50 and a beta of 2.71. Square, Inc. has a 52 week low of $32.33 and a 52 week high of $283.19. The firm has a 50 day simple moving average of $238.99 and a 200 day simple moving average of $194.34.

In other Square news, insider Alyssa Henry sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 8th. The shares were sold at an average price of $211.06, for a total value of $2,110,600.00. Following the completion of the transaction, the insider now directly owns 423,665 shares of the company’s stock, valued at approximately $89,418,734.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Amrita Ahuja sold 1,138 shares of the business’s stock in a transaction on Friday, January 8th. The shares were sold at an average price of $244.35, for a total transaction of $278,070.30. Following the transaction, the chief financial officer now owns 158,221 shares of the company’s stock, valued at $38,661,301.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,271,683 shares of company stock worth $284,646,176. Company insiders own 21.79% of the company’s stock.

Square 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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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