Square Inc. (SQ) Major Shareholder Sells $25,340,000.00 in Stock
Square Inc. (NYSE:SQ) major shareholder Ventures Iii L.P. Khosla sold 2,000,000 shares of the company’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $12.67, for a total transaction of $25,340,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Ventures Iii L.P. Khosla also recently made the following trade(s):
- On Tuesday, November 29th, Ventures Iii L.P. Khosla sold 960,000 shares of Square stock. The stock was sold at an average price of $12.60, for a total transaction of $12,096,000.00.
- On Monday, November 28th, Ventures Iii L.P. Khosla sold 689,000 shares of Square stock. The stock was sold at an average price of $12.73, for a total transaction of $8,770,970.00.
Square Inc. (NYSE:SQ) traded up 3.85% during mid-day trading on Wednesday, reaching $12.94. 7,805,401 shares of the company traded hands. The stock’s market capitalization is $4.56 billion. The company’s 50-day moving average is $11.73 and its 200-day moving average is $10.77. Square Inc. has a 12-month low of $8.06 and a 12-month high of $15.91.
Square (NYSE:SQ) last announced its quarterly earnings data on Tuesday, November 1st. The company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. Square had a negative return on equity of 31.99% and a negative net margin of 12.55%. The firm earned $439 million during the quarter, compared to the consensus estimate of $374.36 million. The business’s revenue was up 50.9% compared to the same quarter last year. Equities analysts predict that Square Inc. will post ($0.55) earnings per share for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC increased its stake in shares of Square by 128.9% in the third quarter. Jane Street Group LLC now owns 75,864 shares of the company’s stock valued at $885,000 after buying an additional 42,723 shares during the last quarter. Blackstone Group L.P. bought a new stake in shares of Square during the third quarter valued at $14,943,000. Capital World Investors increased its stake in shares of Square by 131.4% in the third quarter. Capital World Investors now owns 10,813,575 shares of the company’s stock valued at $126,086,000 after buying an additional 6,140,745 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Square during the third quarter valued at $112,000. Finally, Analytic Investors LLC increased its stake in shares of Square by 103.7% in the third quarter. Analytic Investors LLC now owns 1,471,434 shares of the company’s stock valued at $17,157,000 after buying an additional 749,102 shares during the last quarter. Hedge funds and other institutional investors own 26.73% of the company’s stock.
Several research analysts have recently issued reports on SQ shares. Wedbush decreased their price objective on shares of Square from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, August 4th. Mizuho restated a “buy” rating and set a $16.00 target price on shares of Square in a report on Wednesday, November 2nd. Credit Suisse Group AG assumed coverage on shares of Square in a report on Wednesday, October 19th. They set a “neutral” rating and a $12.00 target price for the company. They noted that the move was a valuation call. Evercore ISI raised their price objective on shares of Square from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, August 4th. Finally, Vetr raised shares of Square from a “buy” rating to a “strong-buy” rating and set a $13.47 price objective for the company in a research note on Tuesday, September 6th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Square currently has a consensus rating of “Buy” and an average target price of $13.06.
Square Company Profile
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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