Square, Inc. (SQ) Short Interest Up 14.1% in November

Square, Inc. (NYSE:SQ) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 31,355,154 shares, a growth of 14.1% from the October 31st total of 27,491,429 shares. Approximately 10.7% of the company’s stock are short sold. Based on an average daily volume of 18,602,965 shares, the short-interest ratio is presently 1.7 days.

SQ has been the subject of several analyst reports. Buckingham Research upgraded shares of Square from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $85.00 in a report on Monday, August 6th. Nomura boosted their price target on shares of Square from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Guggenheim boosted their price target on shares of Square from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, August 29th. Deutsche Bank boosted their price target on shares of Square from $78.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price target (up previously from $76.00) on shares of Square in a report on Wednesday, September 19th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Square currently has a consensus rating of “Hold” and an average price target of $82.89.

In related news, CEO Jack Dorsey sold 103,035 shares of Square stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $89.71, for a total value of $9,243,269.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $88.04, for a total transaction of $35,216,000.00. Following the completion of the transaction, the director now owns 472,175 shares of the company’s stock, valued at approximately $41,570,287. The disclosure for this sale can be found here. Insiders sold 2,575,650 shares of company stock valued at $203,390,117 in the last 90 days. Company insiders own 27.99% of the company’s stock.

Large investors have recently modified their holdings of the company. CIBC Asset Management Inc raised its position in Square by 5.3% in the 3rd quarter. CIBC Asset Management Inc now owns 14,784 shares of the technology company’s stock valued at $1,464,000 after purchasing an additional 738 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Square by 1.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 75,472 shares of the technology company’s stock valued at $7,472,000 after purchasing an additional 754 shares during the last quarter. Lincoln National Corp raised its position in Square by 13.7% in the 2nd quarter. Lincoln National Corp now owns 6,327 shares of the technology company’s stock valued at $390,000 after purchasing an additional 764 shares during the last quarter. Alpha Cubed Investments LLC raised its position in Square by 23.1% in the 3rd quarter. Alpha Cubed Investments LLC now owns 4,208 shares of the technology company’s stock valued at $312,000 after purchasing an additional 791 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Square by 5.7% in the 3rd quarter. IFP Advisors Inc now owns 15,264 shares of the technology company’s stock valued at $1,511,000 after purchasing an additional 818 shares during the last quarter. Institutional investors and hedge funds own 51.04% of the company’s stock.

Shares of NYSE:SQ opened at $69.84 on Monday. The company has a market cap of $28.88 billion, a PE ratio of -698.40 and a beta of 4.30. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.80. Square has a twelve month low of $34.14 and a twelve month high of $101.15.

Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $431.00 million during the quarter, compared to the consensus estimate of $414.19 million. Square had a negative net margin of 0.87% and a negative return on equity of 1.11%. The company’s revenue was up 67.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 EPS. On average, equities research analysts forecast that Square will post -0.02 EPS for the current year.

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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.

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