Square, Inc. (NYSE:SQ) Director Sells $37,960,000.00 in Stock
Square, Inc. (NYSE:SQ) Director James Morgan Jr. Mckelvey sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $189.80, for a total value of $37,960,000.00. Following the sale, the director now owns 279,507 shares in the company, valued at $53,050,428.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
James Morgan Jr. Mckelvey also recently made the following trade(s):
- On Tuesday, September 15th, James Morgan Jr. Mckelvey sold 200,000 shares of Square stock. The stock was sold at an average price of $153.93, for a total value of $30,786,000.00.
- On Tuesday, August 18th, James Morgan Jr. Mckelvey sold 200,000 shares of Square stock. The shares were sold at an average price of $149.79, for a total value of $29,958,000.00.
Shares of SQ stock opened at $186.35 on Friday. Square, Inc. has a 1-year low of $32.33 and a 1-year high of $193.44. The firm has a market cap of $82.65 billion, a PE ratio of 300.56 and a beta of 2.72. The company has a 50-day moving average of $159.98 and a two-hundred day moving average of $113.19. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 1.70.
A number of brokerages have recently issued reports on SQ. Credit Suisse Group increased their target price on Square from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, September 28th. Royal Bank of Canada increased their price objective on shares of Square from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Friday. 140166 boosted their target price on shares of Square from $180.00 to $195.00 and gave the stock a “positive” rating in a research note on Monday, October 5th. ValuEngine upgraded shares of Square from a “hold” rating to a “buy” rating in a research report on Tuesday, October 6th. Finally, Moffett Nathanson lifted their price objective on Square from $90.00 to $120.00 in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $127.08.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balentine LLC acquired a new position in Square during the 1st quarter worth approximately $25,000. Sandy Spring Bank raised its holdings in shares of Square by 123.9% in the second quarter. Sandy Spring Bank now owns 253 shares of the technology company’s stock worth $27,000 after acquiring an additional 140 shares during the last quarter. FinTrust Capital Advisors LLC lifted its position in shares of Square by 484.4% in the first quarter. FinTrust Capital Advisors LLC now owns 561 shares of the technology company’s stock valued at $29,000 after acquiring an additional 465 shares in the last quarter. Blue Square Asset Management LLC acquired a new stake in shares of Square during the second quarter valued at $42,000. Finally, Hall Laurie J Trustee purchased a new stake in Square during the 3rd quarter worth about $49,000. Institutional investors and hedge funds own 66.29% of the company’s stock.
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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