Square (SQ) Shares Gap Down on Insider Selling

Square, Inc. (NYSE:SQ)’s share price gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $73.44, but opened at $73.27. Square shares last traded at $68.70, with a volume of 909841 shares trading hands.

Specifically, insider Sivan Whiteley sold 1,875 shares of the stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $77.70, for a total transaction of $145,687.50. Following the completion of the sale, the insider now directly owns 121,708 shares in the company, valued at $9,456,711.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $88.04, for a total transaction of $35,216,000.00. Following the transaction, the director now directly owns 472,175 shares in the company, valued at $41,570,287. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,300,650 shares of company stock valued at $187,755,700. 27.99% of the stock is currently owned by corporate insiders.

Several research analysts recently issued reports on the stock. Mizuho increased their target price on shares of Square from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Co increased their target price on shares of Square from $60.00 to $80.00 and gave the stock a “market perform” rating in a research note on Thursday. Susquehanna Bancshares reissued a “neutral” rating on shares of Square in a research note on Thursday. They noted that the move was a valuation call. Canaccord Genuity reissued a “buy” rating and set a $95.00 target price (up from $90.00) on shares of Square in a research note on Thursday. They noted that the move was a valuation call. Finally, Needham & Company LLC increased their target price on shares of Square from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Square presently has an average rating of “Hold” and a consensus target price of $79.76.

The company has a current ratio of 1.54, a quick ratio of 2.18 and a debt-to-equity ratio of 0.80. The stock has a market cap of $30.07 billion, a price-to-earnings ratio of -685.00 and a beta of 4.30.

Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Square had a negative net margin of 0.87% and a negative return on equity of 1.11%. The company had revenue of $431.00 million for the quarter, compared to analyst estimates of $414.19 million. During the same period last year, the firm earned $0.07 earnings per share. The firm’s revenue was up 67.7% on a year-over-year basis. On average, equities analysts anticipate that Square, Inc. will post -0.03 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale lifted its position in shares of Square by 149.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 85,723 shares of the technology company’s stock valued at $7,656,000 after purchasing an additional 51,400 shares in the last quarter. CIBC World Markets Inc. lifted its position in shares of Square by 89.6% during the third quarter. CIBC World Markets Inc. now owns 99,268 shares of the technology company’s stock valued at $9,829,000 after purchasing an additional 46,900 shares in the last quarter. FIL Ltd lifted its position in shares of Square by 75.2% during the third quarter. FIL Ltd now owns 2,965,450 shares of the technology company’s stock valued at $293,609,000 after purchasing an additional 1,272,790 shares in the last quarter. JFS Wealth Advisors LLC lifted its position in shares of Square by 769.2% during the third quarter. JFS Wealth Advisors LLC now owns 2,260 shares of the technology company’s stock valued at $224,000 after purchasing an additional 2,000 shares in the last quarter. Finally, TTP Investments Inc. lifted its position in shares of Square by 345.9% during the third quarter. TTP Investments Inc. now owns 42,337 shares of the technology company’s stock valued at $4,192,000 after purchasing an additional 32,842 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors.

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Square Company Profile (NYSE:SQ)

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.

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