Posted by admin on Jun 29th, 2022
NorthCrest Asset Manangement LLC bought a new stake in Square, Inc. (NYSE:SQ – Get Rating) during the first quarter, Holdings Channel.com reports. The fund bought 4,822 shares of the technology company’s stock, valued at approximately $654,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arlington Partners LLC lifted its position in shares of Square by 200.0% in 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 period. Itau Unibanco Holding S.A. bought a new position in shares of Square during the 4th quarter worth approximately $36,000. Global Trust Asset Management LLC increased its holdings in Square by 588.0% during the 1st quarter. Global Trust Asset Management LLC now owns 516 shares of the technology company’s stock valued at $70,000 after purchasing an additional 441 shares in the last quarter. Covestor Ltd acquired a new stake in Square during the 4th quarter valued at $84,000. Finally, Advanced Research Investment Solutions LLC acquired a new stake in Square during the 4th quarter valued at $161,000. 54.56% of the stock is currently owned by hedge funds and other institutional investors.
SQ opened at $65.60 on Wednesday. Square, Inc. has a 52-week low of $56.01 and a 52-week high of $289.23. The firm has a market capitalization of $38.05 billion, a PE ratio of -437.30 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 business’s 50-day simple moving average is $83.16 and its 200 day simple moving average is $113.24.
Square (NYSE:SQ – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The technology company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $4.14 billion. Square had a positive return on equity of 0.74% and a negative net margin of 0.46%. Square’s quarterly revenue was down 21.7% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. On average, research analysts forecast that Square, Inc. will post -0.7 earnings per share for the current year.
A number of equities research analysts recently weighed in on the company. Jefferies Financial Group dropped their price target on Square from $155.00 to $140.00 in a report on Wednesday, May 4th. Morgan Stanley dropped their price target on Square from $118.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, May 19th. KeyCorp raised their price target on Square from $175.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, April 4th. Susquehanna Bancshares dropped their price target on Square from $240.00 to $160.00 in a report on Tuesday, April 26th. Finally, Moffett Nathanson lowered their target price on Square from $200.00 to $170.00 in a research note on Friday, May 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $189.83.
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 transaction, the chief financial officer now owns 121,461 shares of the company’s stock, valued at $17,221,955.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 in the company, valued at approximately $35,047,634.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 196,165 shares of company stock worth $15,293,935. Company insiders own 15.12% of the company’s stock.
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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