James Morgan Jr. Mckelvey Sells 400,000 Shares of Square, Inc. (SQ) Stock

Square, Inc. (NYSE:SQ) Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction on Monday, May 14th. The shares were sold at an average price of $55.13, for a total transaction of $22,052,000.00. Following the completion of the sale, the director now directly owns 468,223 shares of the company’s stock, valued at $25,813,133.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

James Morgan Jr. Mckelvey also recently made the following trade(s):

  • On Monday, April 16th, James Morgan Jr. Mckelvey sold 400,000 shares of Square stock. The shares were sold at an average price of $46.90, for a total transaction of $18,760,000.00.
  • On Tuesday, March 13th, James Morgan Jr. Mckelvey sold 400,000 shares of Square stock. The shares were sold at an average price of $52.13, for a total transaction of $20,852,000.00.
  • On Tuesday, February 20th, James Morgan Jr. Mckelvey sold 400,000 shares of Square stock. The shares were sold at an average price of $45.66, for a total transaction of $18,264,000.00.

Square stock opened at $54.82 on Friday. Square, Inc. has a fifty-two week low of $54.48 and a fifty-two week high of $55.85. The stock has a market cap of $21.90 billion, a P/E ratio of -548.20 and a beta of 4.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 1.76.



Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Square had a negative net margin of 2.96% and a negative return on equity of 7.03%. The business had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $293.07 million. During the same period in the previous year, the company earned $0.05 earnings per share. The firm’s revenue for the quarter was up 50.5% compared to the same quarter last year. research analysts anticipate that Square, Inc. will post 0.01 earnings per share for the current year.

Several research firms have weighed in on SQ. Morgan Stanley lifted their price target on shares of Square from $40.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, May 3rd. BTIG Research reaffirmed a “sell” rating and issued a $30.00 price target on shares of Square in a research note on Thursday, May 3rd. Stifel Nicolaus raised shares of Square from a “hold” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $55.00 in a research report on Thursday, May 3rd. ValuEngine raised shares of Square from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Tuesday, May 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have issued a buy rating to the company. Square currently has a consensus rating of “Buy” and a consensus price target of $45.78.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio purchased a new position in Square in the fourth quarter valued at about $110,000. Envestnet Asset Management Inc. boosted its stake in Square by 1,476.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,317 shares of the technology company’s stock valued at $114,000 after acquiring an additional 2,170 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Square in the fourth quarter valued at about $131,000. McKinley Carter Wealth Services Inc. purchased a new position in Square in the first quarter valued at about $138,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Square in the fourth quarter valued at about $139,000. Hedge funds and other institutional investors own 53.98% of the company’s stock.

About Square

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.

Insider Buying and Selling by Quarter for Square (NYSE:SQ)

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