Spire Wealth Management lessened its position in Square, Inc. (NYSE: SQ – Get Rating) by 11.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,297 shares of the technology company stock after selling 1,301 shares during the period. Spire Wealth Management’s holdings in Square were worth $ 1,396,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding SA acquired a new position in Square in the 4th quarter worth about $ 36,000. Arlington Partners LLC increased its holdings in Square by 200.0% in the 1st quarter. Arlington Partners LLC now owns 234 shares of the technology company stock worth $ 32,000 after purchasing an additional 156 shares in the last quarter. Global Trust Asset Management LLC increased its holdings in Square by 588.0% in the 1st quarter. Global Trust Asset Management LLC now owns 516 shares of the technology company stock worth $ 70,000 after purchasing an additional 441 shares in the last quarter. Covestor Ltd acquired a new position in Square in the 4th quarter worth about $ 84,000. Finally, Advanced Research Investment Solutions LLC acquired a new position in Square in the 4th quarter worth about $ 161,000. 54.56% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the company. Oppenheimer reissued an “outperform” rating and issued a $ 150.00 price target on shares of Square in a research note on Tuesday, May 17th. KeyCorp increased their price target on Square from $ 175.00 to $ 180.00 and gave the company an “overweight” rating in a research note on Monday, April 4th. Truist Financial decreased their price target on Square from $ 165.00 to $ 145.00 and set a “buy” rating for the company in a research note on Monday, May 23rd. Jefferies Financial Group decreased their price target on Square from $ 155.00 to $ 140.00 in a research note on Wednesday, May 4th. Finally, Credit Suisse Group decreased their price target on Square from $ 180.00 to $ 170.00 and set an “outperform” rating for the company in a research note on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirty-seven have issued a buy rating to the company. Based on data from MarketBeat, Square has an average rating of “Moderate Buy” and an average target price of $ 189.83.
In other news, insider Alyssa Henry sold 30,770 shares of Square stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $ 60.14, for a total value of $ 1,850,507.80. Following the completion of the transaction, the insider now directly owns 433,543 shares in the company, valued at $ 26,073,276.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amrita Ahuja sold 3,814 shares of Square stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $ 98.47, for a total value of $ 375,564.58. Following the completion of the transaction, the chief financial officer now owns 159,678 shares of the company stock, valued at $ 15,723,492.66. The disclosure for this sale can be found here. Insiders sold 196,165 shares of company stock valued at $ 15,293,935 over the last three months. Company insiders own 15.12% of the company stock.
NYSE: SQ opened at $ 65.60 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.97 and a quick ratio of 1.97. The business has a fifty day simple moving average of $ 83.16 and a two-hundred day simple moving average of $ 113.24. Square, Inc. has a 1 year low of $ 56.01 and a 1 year high of $ 289.23. The company has a market capitalization of $ 38.05 billion, a P / E ratio of -437.30 and a beta of 2.38.
Square (NYSE: SQ – Get Rating) last released its earnings results on Thursday, May 5th. The technology company reported ($ 0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($ 0.18) by ($ 0.08). Square had a positive return on equity of 0.74% and a negative net margin of 0.46%. The firm had revenue of $ 3.96 billion during the quarter, compared to analysts’ expectations of $ 4.14 billion. During the same period in the prior year, the business earned $ 0.41 earnings per share. The business’s quarterly revenue was down 21.7% compared to the same quarter last year. As a group, analysts anticipate that Square, Inc. will post -0.7 earnings per share for the current year.
Square Company Profile: (Get Rating)
Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company 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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