Investors Buy Square (SQ) on Weakness

Traders purchased shares of Square Inc (NYSE:SQ) on weakness during trading on Thursday. $80.31 million flowed into the stock on the tick-up and $60.17 million flowed out of the stock on the tick-down, for a money net flow of $20.14 million into the stock. Of all equities tracked, Square had the 23rd highest net in-flow for the day. Square traded down ($0.62) for the day and closed at $35.13

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Square from $26.00 to $40.00 and gave the stock a “hold” rating in a report on Tuesday, December 19th. They noted that the move was a valuation call. Cowen assumed coverage on Square in a research note on Monday, December 11th. They issued a “market perform” rating and a $36.00 price objective on the stock. They noted that the move was a valuation call. BTIG Research cut Square from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $12.38 to $30.00 in a research note on Monday, November 27th. Vetr raised Square from a “hold” rating to a “buy” rating and set a $51.38 price objective on the stock in a research note on Thursday, November 23rd. Finally, Wells Fargo & Co assumed coverage on Square in a research note on Tuesday, November 21st. They issued a “market perform” rating and a $42.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $34.45.

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81. The firm has a market cap of $13,650.00 and a price-to-earnings ratio of -206.65.

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

In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $32.72, for a total value of $13,088,000.00. Following the completion of the transaction, the director now owns 507,732 shares in the company, valued at approximately $16,612,991.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jack Dorsey sold 50,000 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $36.16, for a total value of $1,808,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,666,530 shares of company stock valued at $61,937,547 in the last 90 days. 32.68% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its stake in shares of Square by 101.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 45,653 shares of the technology company’s stock valued at $789,000 after buying an additional 23,021 shares during the last quarter. Aperio Group LLC purchased a new position in shares of Square during the 2nd quarter valued at about $225,000. Great West Life Assurance Co. Can raised its stake in shares of Square by 31.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 22,659 shares of the technology company’s stock valued at $530,000 after buying an additional 5,485 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Square by 350.5% during the 2nd quarter. Rhumbline Advisers now owns 243,545 shares of the technology company’s stock valued at $5,714,000 after buying an additional 189,483 shares during the last quarter. Finally, State of Wisconsin Investment Board raised its stake in shares of Square by 338.9% during the 2nd quarter. State of Wisconsin Investment Board now owns 44,252 shares of the technology company’s stock valued at $1,038,000 after buying an additional 34,170 shares during the last quarter. Institutional investors own 54.20% of the company’s stock.

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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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