TrinityPoint Wealth LLC Has $345,000 Stock Position in Square, Inc. (NYSE:SQ)

TrinityPoint Wealth LLC reduced its position in shares of Square, Inc. (NYSE:SQ) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,415 shares of the technology company’s stock after selling 72 shares during the period. TrinityPoint Wealth LLC’s holdings in Square were worth $345,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SQ. Parisi Gray Wealth Management bought a new stake in shares of Square in the second quarter worth $79,000. Toroso Investments LLC raised its holdings in shares of Square by 13.5% in the second quarter. Toroso Investments LLC now owns 237,299 shares of the technology company’s stock valued at $57,854,000 after purchasing an additional 28,179 shares during the last quarter. Berkshire Capital Holdings Inc. boosted its position in Square by 9.2% in the second quarter. Berkshire Capital Holdings Inc. now owns 174,370 shares of the technology company’s stock worth $42,511,000 after purchasing an additional 14,720 shares during the last quarter. PAX Financial Group LLC increased its stake in shares of Square by 16.7% during the 2nd quarter. PAX Financial Group LLC now owns 1,750 shares of the technology company’s stock worth $427,000 after purchasing an additional 251 shares during the last quarter. Finally, Lincoln National Corp raised its stake in shares of Square by 7.8% in the second quarter. Lincoln National Corp now owns 8,050 shares of the technology company’s stock valued at $1,962,000 after buying an additional 582 shares during the period. Institutional investors and hedge funds own 62.65% of the company’s stock.

Shares of SQ opened at $247.67 on Thursday. Square, Inc. has a 52 week low of $151.10 and a 52 week high of $289.23. The stock has a 50 day moving average price of $257.13 and a two-hundred day moving average price of $243.37. The firm has a market capitalization of $113.85 billion, a P/E ratio of 212.92, a P/E/G ratio of 10.06 and a beta of 2.43. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.95 and a current ratio of 1.95.

Square (NYSE:SQ) last issued its quarterly earnings data on Saturday, July 31st. The technology company reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.35. The company had revenue of $4.68 billion during 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%. Square’s revenue was up 143.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 earnings per share. On average, equities analysts forecast that Square, Inc. will post 0.81 earnings per share for the current year.

In other news, insider Sivan Whiteley sold 7,023 shares of the stock in a transaction on Monday, October 4th. The stock was sold at an average price of $226.10, for a total transaction of $1,587,900.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Morgan Jr. Mckelvey sold 200,000 shares of the stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $260.20, for a total value of $52,040,000.00. The disclosure for this sale can be found here. Insiders have sold 289,381 shares of company stock worth $75,140,618 in the last three months. 15.12% of the stock is currently owned by insiders.

SQ has been the subject of several analyst reports. Truist Securities upped their price target on shares of Square from $325.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, August 3rd. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “strong-buy” rating and set a $260.00 target price on the stock in a report on Tuesday, October 5th. UBS Group upgraded shares of Square to an “overweight” rating in a research note on Tuesday. Evercore ISI boosted their target price on Square from $361.00 to $371.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 15th. Finally, Atlantic Securities upgraded Square from a “neutral” rating to an “overweight” rating and set a $300.00 price target on the stock in a research note on Tuesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $288.31.

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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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