Traders Sell Shares of Square, Inc. (SQ) on Strength (SQ)

Investors sold shares of Square, Inc. (NYSE:SQ) on strength during trading on Thursday. $194.83 million flowed into the stock on the tick-up and $221.47 million flowed out of the stock on the tick-down, for a money net flow of $26.64 million out of the stock. Of all equities tracked, Square had the 0th highest net out-flow for the day. Square traded up $1.25 for the day and closed at $37.96

A number of brokerages have recently weighed in on SQ. Oppenheimer Holdings, Inc. boosted their price objective on shares of Square from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Friday. Canaccord Genuity boosted their price objective on shares of Square from $26.00 to $33.00 and gave the company a “hold” rating in a report on Thursday. Barclays PLC boosted their price objective on shares of Square from $28.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday. Stifel Nicolaus lowered shares of Square from a “buy” rating to a “hold” rating and boosted their price objective for the company from $29.00 to $36.00 in a report on Wednesday, November 1st. Finally, KeyCorp reissued an “overweight” rating and set a $40.00 price objective (up from $35.00) on shares of Square in a report on Monday, November 6th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Square has a consensus rating of “Buy” and an average price target of $31.67.

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 2.30.

Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The firm had revenue of $257.12 million during the quarter, compared to the consensus estimate of $244.95 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. sell-side analysts forecast that Square, Inc. will post -0.16 EPS for the current year.

In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $32.72, for a total value of $13,088,000.00. Following the completion of the sale, the director now owns 507,732 shares in the company, valued at approximately $16,612,991.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sarah Friar sold 19,200 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $25.54, for a total transaction of $490,368.00. Following the completion of the sale, the chief financial officer now owns 366,103 shares of the company’s stock, valued at approximately $9,350,270.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,353,600 shares of company stock valued at $38,351,040. Insiders own 32.68% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in SQ. FMR LLC raised its holdings in Square by 114.7% in the 2nd quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after acquiring an additional 12,764,491 shares during the last quarter. Vanguard Group Inc. raised its holdings in Square by 73.4% in the 2nd quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after acquiring an additional 8,058,892 shares during the last quarter. BlackRock Inc. raised its holdings in Square by 7,162.2% in the 1st quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock valued at $93,023,000 after acquiring an additional 5,309,197 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Square by 556.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock valued at $107,786,000 after acquiring an additional 3,894,639 shares during the last quarter. Finally, Capital World Investors raised its holdings in Square by 32.8% in the 2nd quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after acquiring an additional 3,853,000 shares during the last quarter. Institutional investors own 53.91% of the company’s stock.

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About Square

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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