Investors Buy Shares of Square, Inc. (SQ) on Weakness

Traders bought shares of Square, Inc. (NYSE:SQ) on weakness during trading hours on Tuesday. $44.93 million flowed into the stock on the tick-up and $26.24 million flowed out of the stock on the tick-down, for a money net flow of $18.69 million into the stock. Of all companies tracked, Square had the 24th highest net in-flow for the day. Square traded down ($0.30) for the day and closed at $27.27

A number of analysts recently weighed in on the company. Credit Suisse Group restated a “neutral” rating and issued a $26.00 price target (up from $25.00) on shares of Square in a research note on Wednesday, August 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $31.00 price target (up from $24.00) on shares of Square in a research note on Wednesday, August 9th. Vetr downgraded Square from a “strong-buy” rating to a “buy” rating and set a $30.12 price target on the stock. in a research note on Tuesday. Canaccord Genuity lifted their price target on Square from $18.00 to $26.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Finally, Barclays PLC restated an “overweight” rating and issued a $28.00 price target (up from $21.00) on shares of Square in a research note on Wednesday, August 9th. Twelve analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $24.87.

The stock’s 50 day moving average is $25.72 and its 200 day moving average is $21.73. The company’s market cap is $10.46 billion.

Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $240.00 million during the quarter, compared to analyst estimates of $228.64 million. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The company’s revenue was up 40.4% compared to the same quarter last year. During the same period last year, the company posted ($0.08) EPS. Analysts anticipate that Square, Inc. will post $0.24 EPS for the current fiscal year.

In other news, CFO Sarah Friar sold 19,200 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $26.25, for a total value of $504,000.00. Following the completion of the sale, the chief financial officer now owns 368,791 shares of the company’s stock, valued at $9,680,763.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $25.02, for a total value of $10,008,000.00. Following the completion of the sale, the director now directly owns 507,385 shares of the company’s stock, valued at approximately $12,694,772.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 553,600 shares of company stock valued at $13,928,064. Corporate insiders own 32.68% of the company’s stock.

Several institutional investors have recently modified their holdings of SQ. UBS Asset Management Americas Inc. boosted its position in shares of Square by 59.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 41,008 shares of the technology company’s stock worth $559,000 after buying an additional 15,354 shares during the period. Teachers Advisors LLC boosted its position in shares of Square by 168.8% in the fourth quarter. Teachers Advisors LLC now owns 229,804 shares of the technology company’s stock worth $3,132,000 after buying an additional 144,308 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Square in the first quarter worth $188,000. Russell Investments Group Ltd. boosted its position in shares of Square by 186.8% in the first quarter. Russell Investments Group Ltd. now owns 190,044 shares of the technology company’s stock worth $3,285,000 after buying an additional 123,787 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in shares of Square by 43.4% in the first quarter. Great West Life Assurance Co. Can now owns 17,174 shares of the technology company’s stock worth $296,000 after buying an additional 5,200 shares during the period. 82.02% of the stock is owned by institutional investors and hedge funds.

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Square Company Profile

Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.

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