Posted by admin on Jul 2nd, 2022
AE Wealth Management LLC decreased its holdings in Square, Inc. (NYSE:SQ – Get Rating) by 14.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 32,034 shares of the technology company’s stock after selling 5,619 shares during the period. AE Wealth Management LLC’s holdings in Square were worth $4,344,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in shares of Square in the 4th quarter valued at $36,000. Arlington Partners LLC grew its position in Square by 200.0% during the 1st quarter. Arlington Partners LLC now owns 234 shares of the technology company’s stock worth $32,000 after acquiring an additional 156 shares during the last quarter. Global Trust Asset Management LLC grew its position in Square by 588.0% during the 1st quarter. Global Trust Asset Management LLC now owns 516 shares of the technology company’s stock worth $70,000 after acquiring an additional 441 shares during the last quarter. Covestor Ltd bought a new stake in Square during the 4th quarter worth $84,000. Finally, Advanced Research Investment Solutions LLC bought a new stake in Square during the 4th quarter worth $161,000. Institutional investors own 54.56% of the company’s stock.
In other news, CFO Amrita Ahuja sold 2,680 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $141.79, for a total value of $379,997.20. Following the completion of the transaction, the chief financial officer now directly owns 121,461 shares of the company’s stock, valued at $17,221,955.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Alyssa Henry sold 30,770 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $80.86, for a total value of $2,488,062.20. Following the completion of the transaction, the insider now directly owns 433,436 shares of the company’s stock, valued at $35,047,634.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 226,935 shares of company stock valued at $17,246,907. 15.12% of the stock is currently owned by corporate insiders.
A number of brokerages recently weighed in on SQ. Barclays reduced their price objective on Square from $182.00 to $150.00 in a research report on Monday, May 9th. Cowen reduced their price objective on Square from $188.00 to $148.00 in a research report on Friday, May 6th. BTIG Research reduced their price target on Square from $230.00 to $175.00 in a research report on Friday, May 6th. Oppenheimer reiterated an “outperform” rating and issued a $150.00 price target on shares of Square in a research report on Tuesday, May 17th. Finally, Wedbush reduced their price target on Square from $140.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.88.
Shares of SQ opened at $63.90 on Friday. The firm has a market capitalization of $37.07 billion, a P/E ratio of -425.97 and a beta of 2.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a 50 day moving average price of $80.44 and a two-hundred day moving average price of $111.36. Square, Inc. has a 52 week low of $56.01 and a 52 week high of $289.23.
Square (NYSE:SQ – Get Rating) last released its earnings results on Thursday, May 5th. The technology company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $4.14 billion. Square had a negative net margin of 0.46% and a positive return on equity of 0.74%. The business’s revenue was down 21.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share. On average, equities analysts forecast that Square, Inc. will post -0.7 earnings per share for the current year.
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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