Moors & Cabot Inc. boosted its position in Square, Inc. (NYSE:SQ) by 56.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the technology company’s stock after purchasing an additional 8,974 shares during the quarter. Moors & Cabot Inc.’s holdings in Square were worth $32,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its stake in Square by 308.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 102 shares of the technology company’s stock valued at $25,000 after purchasing an additional 77 shares during the period. Dark Forest Capital Management LP bought a new stake in shares of Square during the 2nd quarter valued at $28,000. HBC Financial Services PLLC lifted its position in shares of Square by 58.8% during the 3rd quarter. HBC Financial Services PLLC now owns 135 shares of the technology company’s stock valued at $33,000 after acquiring an additional 50 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Square during the 2nd quarter valued at $34,000. Finally, Selective Wealth Management Inc. bought a new stake in shares of Square during the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 75.64% of the company’s stock.
A number of analysts have recently weighed in on SQ shares. Susquehanna Bancshares cut their target price on Square from $300.00 to $275.00 and set a “positive” rating for the company in a research report on Wednesday, January 5th. Barclays cut their target price on Square from $345.00 to $325.00 and set an “overweight” rating for the company in a research report on Thursday, October 21st. Jefferies Financial Group cut their target price on Square from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday. BTIG Research reiterated a “buy” rating and set a $319.00 target price on shares of Square in a research report on Friday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Square from $330.00 to $210.00 in a report on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $278.81.
Square (NYSE:SQ) last issued its quarterly earnings results on Thursday, November 4th. The technology company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.26. Square had a return on equity of 14.15% and a net margin of 3.21%. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The business’s quarterly revenue was up 26.7% on a year-over-year basis. Sell-side analysts forecast that Square, Inc. will post 0.49 earnings per share for the current year.
In related news, CFO Amrita Ahuja sold 834 shares of the company’s stock in a transaction dated Thursday, October 21st. The stock was sold at an average price of $264.49, for a total transaction of $220,584.66. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sivan Whiteley sold 6,668 shares of the company’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $255.49, for a total value of $1,703,607.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,094 shares of company stock worth $8,494,506. 15.12% of the stock is owned by corporate insiders.
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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