Truvestments Capital LLC raised its holdings in shares of Square, Inc. (NYSE:SQ) by 448.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,290 shares of the technology company’s stock after purchasing an additional 1,055 shares during the period. Truvestments Capital LLC’s holdings in Square were worth $80,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. We Are One Seven LLC boosted its stake in shares of Square by 3.1% during the 3rd quarter. We Are One Seven LLC now owns 8,247 shares of the technology company’s stock worth $511,000 after acquiring an additional 246 shares in the last quarter. Gradient Investments LLC raised its position in shares of Square by 16.1% during the 3rd quarter. Gradient Investments LLC now owns 17,554 shares of the technology company’s stock worth $1,087,000 after purchasing an additional 2,431 shares during the last quarter. American National Bank acquired a new position in shares of Square during the 3rd quarter worth about $62,000. Forte Capital LLC ADV raised its position in shares of Square by 2.0% during the 3rd quarter. Forte Capital LLC ADV now owns 64,645 shares of the technology company’s stock worth $4,005,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Tower View Investment Management & Research LLC raised its position in shares of Square by 7.8% during the 3rd quarter. Tower View Investment Management & Research LLC now owns 10,600 shares of the technology company’s stock worth $657,000 after purchasing an additional 770 shares during the last quarter. 55.70% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on SQ. Craig Hallum upgraded shares of Square from a “sell” rating to a “hold” rating and upped their price target for the stock from $55.00 to $63.00 in a research report on Wednesday, September 18th. Needham & Company LLC set a $90.00 price objective on shares of Square and gave the company a “buy” rating in a report on Thursday, September 12th. Canaccord Genuity downgraded shares of Square from a “buy” rating to a “hold” rating and cut their price objective for the company from $88.00 to $64.00 in a report on Thursday, September 12th. Nomura initiated coverage on shares of Square in a report on Friday. They issued a “reduce” rating and a $49.00 price objective for the company. Finally, Rosenblatt Securities initiated coverage on shares of Square in a report on Monday, August 19th. They issued a “neutral” rating and a $68.00 price objective for the company. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Square has an average rating of “Hold” and an average target price of $74.17.
In other Square news, insider Alyssa Henry sold 20,000 shares of Square stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $60.26, for a total value of $1,205,200.00. Following the transaction, the insider now directly owns 442,168 shares in the company, valued at $26,645,043.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Ajmere Dale sold 2,048 shares of Square stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $62.47, for a total transaction of $127,938.56. Following the completion of the sale, the chief accounting officer now directly owns 64,050 shares in the company, valued at approximately $4,001,203.50. The disclosure for this sale can be found here. Insiders have sold a total of 47,048 shares of company stock worth $2,979,489 over the last quarter. 21.79% of the stock is owned by company insiders.
Shares of NYSE:SQ traded up $0.61 during mid-day trading on Friday, reaching $62.64. 2,823,996 shares of the company were exchanged, compared to its average volume of 9,887,847. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $25.97 billion, a price-to-earnings ratio of 3,132.00, a P/E/G ratio of 21.86 and a beta of 3.40. The firm’s 50-day simple moving average is $60.89 and its 200 day simple moving average is $68.71. Square, Inc. has a 1 year low of $49.82 and a 1 year high of $83.20.
Square (NYSE:SQ) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.20. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. The business had revenue of $563.00 million for the quarter, compared to analyst estimates of $557.67 million. During the same period last year, the business earned $0.13 EPS. The company’s revenue was up 46.2% on a year-over-year basis. On average, research analysts forecast that Square, Inc. will post 0.11 earnings per share for the current fiscal year.
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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