Benin Management CORP cut its stake in Square, Inc. (NYSE:SQ) by 14.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,900 shares of the technology company’s stock after selling 1,500 shares during the period. Benin Management CORP’s holdings in Square were worth $209,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Howard Capital Management purchased a new position in shares of Square during the first quarter valued at about $518,000. Skylands Capital LLC purchased a new position in shares of Square during the first quarter valued at about $346,000. Macquarie Group Ltd. boosted its position in shares of Square by 34.8% in the fourth quarter. Macquarie Group Ltd. now owns 184,558 shares of the technology company’s stock valued at $2,516,000 after buying an additional 47,600 shares during the period. Highbridge Capital Management LLC purchased a new position in shares of Square during the fourth quarter valued at about $314,000. Finally, 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 valued at $3,132,000 after buying an additional 144,308 shares during the period. 74.91% of the stock is currently owned by institutional investors.
Shares of Square, Inc. (NYSE:SQ) traded up 1.82% during mid-day trading on Wednesday, hitting $27.38. The stock had a trading volume of 3,028,785 shares. The stock’s 50-day moving average is $24.49 and its 200 day moving average is $19.05. The firm’s market cap is $10.24 billion. Square, Inc. has a 12 month low of $9.75 and a 12 month high of $27.45.
Square (NYSE:SQ) last issued its earnings results on Wednesday, May 3rd. The technology company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The firm had revenue of $461.55 million during the quarter, compared to the consensus estimate of $450.66 million. Square had a negative net margin of 5.02% and a negative return on equity of 15.81%. Equities research analysts predict that Square, Inc. will post ($0.19) earnings per share for the current fiscal year.
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Several research analysts recently issued reports on the company. Piper Jaffray Companies reissued a “hold” rating and issued a $24.00 price objective on shares of Square in a research note on Wednesday. Deutsche Bank AG increased their price objective on Square to $28.00 and gave the stock a “buy” rating in a research note on Monday. Zacks Investment Research cut Square from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. KeyCorp reissued an “overweight” rating on shares of Square in a research note on Tuesday, July 18th. Finally, Vetr raised Square from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Thursday, June 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $21.58.
In related news, CFO Sarah Friar sold 19,200 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $26.25, for a total transaction of $504,000.00. Following the completion of the transaction, the chief financial officer now owns 368,791 shares in the company, valued at $9,680,763.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jack Dorsey sold 381,500 shares of the business’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $18.63, for a total transaction of $7,107,345.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,307,336 shares of company stock valued at $27,517,192. Insiders own 32.68% of the company’s stock.
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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