First Allied Advisory Services Inc. Takes Position in Square Inc (SQ)

First Allied Advisory Services Inc. bought a new stake in shares of Square Inc (NYSE:SQ) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 32,283 shares of the technology company’s stock, valued at approximately $940,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SQ. Almanack Investment Partners LLC. purchased a new position in shares of Square during the 2nd quarter valued at $117,000. Riverhead Capital Management LLC bought a new stake in Square in the 2nd quarter valued at $149,000. Hudock Capital Group LLC bought a new stake in Square in the 3rd quarter valued at $157,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Square by 19.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after acquiring an additional 1,099 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Square by 42.2% in the 2nd quarter. Pacer Advisors Inc. now owns 8,368 shares of the technology company’s stock valued at $196,000 after acquiring an additional 2,485 shares during the last quarter. Institutional investors own 54.31% of the company’s stock.

A number of analysts have issued reports on SQ shares. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, October 3rd. Barclays lifted their price target on shares of Square from $28.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, November 9th. Vetr downgraded shares of Square from a “buy” rating to a “hold” rating and set a $31.08 price target on the stock. in a report on Wednesday, October 4th. Wells Fargo & Company started coverage on shares of Square in a report on Tuesday, November 21st. They issued a “market perform” rating and a $42.00 price target on the stock. Finally, Deutsche Bank lifted their price target on shares of Square to $37.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $33.88.

Shares of Square Inc (NYSE SQ) traded up $0.21 during trading hours on Tuesday, reaching $38.30. 15,780,100 shares of the company traded hands, compared to its average volume of 9,224,652. Square Inc has a one year low of $13.53 and a one year high of $49.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81.

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

In other Square news, CFO Sarah Friar sold 19,200 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $28.41, for a total value of $545,472.00. Following the completion of the sale, the chief financial officer now directly owns 366,103 shares of the company’s stock, valued at approximately $10,400,986.23. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $32.72, for a total transaction of $13,088,000.00. Following the completion of the sale, the director now directly owns 507,732 shares of the company’s stock, valued at $16,612,991.04. The disclosure for this sale can be found here. Insiders have sold a total of 1,129,827 shares of company stock worth $41,081,434 over the last quarter. 32.68% of the stock is currently owned by insiders.

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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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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