Square, Inc. (NYSE:SQ) CEO Jack Dorsey Sells 100,000 Shares

Square, Inc. (NYSE:SQ) CEO Jack Dorsey sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $230.13, for a total transaction of $23,013,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jack Dorsey also recently made the following trade(s):

  • On Monday, March 29th, Jack Dorsey sold 100,000 shares of Square stock. The shares were sold at an average price of $210.26, for a total transaction of $21,026,000.00.
  • On Monday, March 22nd, Jack Dorsey sold 100,000 shares of Square stock. The shares were sold at an average price of $224.29, for a total transaction of $22,429,000.00.
  • On Monday, March 8th, Jack Dorsey sold 100,000 shares of Square stock. The shares were sold at an average price of $215.22, for a total value of $21,522,000.00.
  • On Monday, February 8th, Jack Dorsey sold 100,000 shares of Square stock. The stock was sold at an average price of $249.61, for a total value of $24,961,000.00.
  • On Monday, January 25th, Jack Dorsey sold 100,000 shares of Square stock. The shares were sold at an average price of $222.81, for a total transaction of $22,281,000.00.
  • On Tuesday, January 19th, Jack Dorsey sold 100,000 shares of Square stock. The stock was sold at an average price of $227.88, for a total transaction of $22,788,000.00.
  • On Monday, January 11th, Jack Dorsey sold 100,000 shares of Square stock. The stock was sold at an average price of $229.87, for a total value of $22,987,000.00.

SQ opened at $245.12 on Thursday. The stock has a market capitalization of $111.44 billion, a price-to-earnings ratio of 389.09, a price-to-earnings-growth ratio of 29.50 and a beta of 2.71. Square, Inc. has a 12 month low of $51.81 and a 12 month high of $283.19. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.70 and a quick ratio of 1.70. The business has a 50-day moving average of $234.54 and a two-hundred day moving average of $212.08.

Square (NYSE:SQ) last posted its quarterly earnings results on Tuesday, February 23rd. The technology company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.08. Square had a net margin of 4.05% and a negative return on equity of 0.01%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter last year, the firm posted $0.23 earnings per share. Square’s revenue was up 139.6% on a year-over-year basis. Equities research analysts anticipate that Square, Inc. will post -0.03 earnings per share for the current year.

Several brokerages recently issued reports on SQ. Needham & Company LLC raised their target price on shares of Square from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, March 2nd. Wedbush upped their target price on Square from $140.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 15th. Piper Sandler lifted their price target on Square from $190.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, March 2nd. Wells Fargo & Company cut shares of Square from an “overweight” rating to an “equal weight” rating and set a $255.00 price objective on the stock. in a research note on Wednesday, February 24th. They noted that the move was a valuation call. Finally, Credit Suisse Group increased their price target on Square from $210.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 2nd. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $224.10.

Several hedge funds and other institutional investors have recently modified their holdings of SQ. Jennison Associates LLC grew its stake in shares of Square by 33,045.6% during the fourth quarter. Jennison Associates LLC now owns 8,594,646 shares of the technology company’s stock valued at $1,870,539,000 after acquiring an additional 8,568,716 shares in the last quarter. Norges Bank bought a new stake in shares of Square in the fourth quarter worth $597,618,000. Sands Capital Management LLC increased its stake in shares of Square by 30.6% in the third quarter. Sands Capital Management LLC now owns 8,785,371 shares of the technology company’s stock worth $1,428,062,000 after buying an additional 2,057,920 shares during the last quarter. Winslow Capital Management LLC raised its holdings in Square by 231.5% in the fourth quarter. Winslow Capital Management LLC now owns 1,646,297 shares of the technology company’s stock valued at $358,300,000 after acquiring an additional 1,149,672 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Square by 108.1% during the 3rd quarter. Nuveen Asset Management LLC now owns 1,927,393 shares of the technology company’s stock valued at $313,298,000 after acquiring an additional 1,001,127 shares during the last quarter. 64.01% of the stock is owned by institutional investors.

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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