Francoise Brougher Sells 57,692 Shares of Square Inc. (SQ) Stock
Square Inc. (NYSE:SQ) insider Francoise Brougher sold 57,692 shares of the stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $12.00, for a total transaction of $692,304.00. Following the sale, the insider now directly owns 164,977 shares of the company’s stock, valued at approximately $1,979,724. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Square Inc. (NYSE:SQ) opened at 11.66 on Friday. Square Inc. has a one year low of $8.06 and a one year high of $15.91. The stock’s market cap is $3.98 billion. The stock’s 50 day moving average is $11.75 and its 200-day moving average is $11.28.
Square (NYSE:SQ) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. Square had a negative return on equity of 37.14% and a negative net margin of 14.85%. The business earned $439 million during the quarter, compared to the consensus estimate of $406.93 million. Square’s revenue for the quarter was up 54.1% compared to the same quarter last year. On average, equities analysts forecast that Square Inc. will post ($0.60) EPS for the current year.
SQ has been the subject of several analyst reports. Jefferies Group reissued a “buy” rating and set a $15.00 price target on shares of Square in a research report on Wednesday. Stifel Nicolaus raised shares of Square from a “hold” rating to a “buy” rating and increased their price target for the company from $8.06 to $15.00 in a research report on Monday, August 22nd. BTIG Research cut shares of Square from a “buy” rating to a “neutral” rating and dropped their price target for the company from $15.91 to $12.00 in a research report on Monday, August 29th. Vetr cut shares of Square from a “strong-buy” rating to a “buy” rating and set a $13.56 price target for the company. in a research report on Wednesday, August 31st. Finally, Craig Hallum began coverage on shares of Square in a report on Wednesday, June 15th. They issued a “hold” rating and a $7.50 price objective for the company. Fifteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Square has a consensus rating of “Buy” and a consensus price target of $12.81.
Several hedge funds have recently modified their holdings of SQ. State Treasurer State of Michigan acquired a new stake in shares of Square during the second quarter worth about $102,710,000. Loomis Sayles & Co. L P acquired a new stake in shares of Square during the first quarter worth about $20,557,000. Vanguard Group Inc. increased its stake in shares of Square by 72.6% in the second quarter. Vanguard Group Inc. now owns 2,606,190 shares of the company’s stock worth $23,586,000 after buying an additional 1,095,830 shares during the last quarter. Rizvi Traverse Management LLC increased its stake in shares of Square by 2,286.1% in the second quarter. Rizvi Traverse Management LLC now owns 1,048,620 shares of the company’s stock worth $9,490,000 after buying an additional 1,004,673 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Square during the second quarter worth about $7,345,000. 16.89% of the stock is owned by hedge funds and other institutional investors.
Square, Inc enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses. It serves as a payment service provider, acting as the touch point for the seller to the rest of the payment chain.
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