Ladenburg Thalmann Financial Services Inc. grew its stake in Square Inc (NYSE:SQ) by 256.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,112 shares of the technology company’s stock after purchasing an additional 42,506 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Square were worth $1,701,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SQ. Almanack Investment Partners LLC. bought a new position in shares of Square during the 2nd quarter worth about $117,000. Hudock Capital Group LLC bought a new position in shares of Square during the 3rd quarter worth about $157,000. Riverhead Capital Management LLC bought a new position in shares of Square during the 2nd quarter worth about $149,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Square by 19.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,099 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of Square during the 3rd quarter worth about $205,000. Institutional investors own 54.31% of the company’s stock.
In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction that occurred on 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 owns 507,732 shares in the company, valued at approximately $16,612,991.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sarah Friar sold 38,400 shares of Square stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $28.36, for a total transaction of $1,089,024.00. Following the sale, the chief financial officer now owns 366,103 shares of the company’s stock, valued at approximately $10,382,681.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,599,027 shares of company stock valued at $58,943,174. Insiders own 32.68% of the company’s stock.
Square (NYSE:SQ) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $257.12 million during the quarter, compared to the consensus estimate of $244.95 million. During the same period in the previous year, the firm posted $0.01 earnings per share. The company’s revenue was up 44.6% on a year-over-year basis. equities analysts forecast that Square Inc will post -0.16 earnings per share for the current fiscal year.
A number of research firms have recently commented on SQ. Cowen began coverage on shares of Square in a report on Monday, December 11th. They set a “market perform” rating and a $36.00 price objective for the company. They noted that the move was a valuation call. BTIG Research downgraded shares of Square from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $12.38 to $30.00 in a report on Monday, November 27th. Vetr raised shares of Square from a “hold” rating to a “buy” rating and set a $51.38 price objective for the company in a report on Thursday, November 23rd. Wells Fargo & Company began coverage on shares of Square in a report on Tuesday, November 21st. They set a “market perform” rating and a $42.00 price objective for the company. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Square in a report on Monday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have issued a buy rating to the company. Square presently has a consensus rating of “Buy” and an average target price of $33.88.
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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