Eqis Capital Management Inc. Sells 375 Shares of Square, Inc. (NYSE:SQ)

Eqis Capital Management Inc. decreased its position in Square, Inc. (NYSE:SQ) by 4.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,260 shares of the technology company’s stock after selling 375 shares during the quarter. Eqis Capital Management Inc.’s holdings in Square were worth $1,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Strategic Blueprint LLC increased its position in shares of Square by 10.8% during the 2nd quarter. Strategic Blueprint LLC now owns 14,120 shares of the technology company’s stock valued at $3,442,000 after purchasing an additional 1,382 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Square by 0.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 277,974 shares of the technology company’s stock valued at $67,770,000 after purchasing an additional 2,086 shares during the last quarter. Global Wealth Management Investment Advisory Inc. increased its position in shares of Square by 7.5% during the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 5,836 shares of the technology company’s stock valued at $1,423,000 after purchasing an additional 406 shares during the last quarter. Barings LLC increased its position in shares of Square by 220.9% during the 2nd quarter. Barings LLC now owns 3,110 shares of the technology company’s stock valued at $759,000 after purchasing an additional 2,141 shares during the last quarter. Finally, Berman Capital Advisors LLC increased its position in shares of Square by 4.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 3,026 shares of the technology company’s stock valued at $735,000 after purchasing an additional 142 shares during the last quarter. 62.65% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently issued reports on the company. Truist boosted their price objective on Square from $325.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, August 3rd. Keefe, Bruyette & Woods boosted their price objective on Square from $281.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, August 3rd. DA Davidson assumed coverage on Square in a report on Wednesday, June 23rd. They set a “buy” rating and a $275.00 price objective for the company. Rosenblatt Securities boosted their price objective on Square from $330.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, August 3rd. Finally, Evercore ISI boosted their price objective on Square from $361.00 to $371.00 and gave the company an “outperform” rating in a report on Wednesday, September 15th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $275.50.

In other Square news, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 29th. The stock was sold at an average price of $250.00, for a total transaction of $250,000.00. Following the transaction, the chief accounting officer now owns 41,293 shares in the company, valued at $10,323,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sivan Whiteley sold 8,119 shares of the stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $266.28, for a total value of $2,161,927.32. The disclosure for this sale can be found here. Insiders sold 488,165 shares of company stock worth $123,476,188 in the last 90 days. Company insiders own 15.12% of the company’s stock.

Shares of SQ stock opened at $262.50 on Friday. The stock’s 50-day simple moving average is $261.68 and its 200-day simple moving average is $242.33. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $120.67 billion, a PE ratio of 230.27, a P/E/G ratio of 10.06 and a beta of 2.43. Square, Inc. has a fifty-two week low of $151.10 and a fifty-two week high of $289.23.

Square (NYSE:SQ) last announced its quarterly earnings data on Saturday, July 31st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.35. The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $5.05 billion. Square had a return on equity of 16.94% and a net margin of 3.60%. The company’s revenue was up 143.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. Sell-side analysts forecast that Square, Inc. will post 0.81 earnings per share for the current year.

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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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