Level Four Advisory Services LLC acquired a new position in Square, Inc. (NYSE:SQ) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,813 shares of the technology company’s stock, valued at approximately $199,000.
Several other hedge funds have also modified their holdings of SQ. Pacer Advisors Inc. increased its position in Square by 22.7% in the first quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after buying an additional 1,090 shares in the last quarter. Glassman Wealth Services increased its position in Square by 1,987.3% in the first quarter. Glassman Wealth Services now owns 6,575 shares of the technology company’s stock valued at $114,000 after buying an additional 6,260 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in Square during the first quarter valued at $131,000. Concert Wealth Management Inc. purchased a new position in Square during the first quarter valued at $144,000. Finally, Ancora Advisors LLC purchased a new position in Square during the fourth quarter valued at $164,000. 76.83% of the stock is owned by hedge funds and other institutional investors.
Square, Inc. (NYSE:SQ) traded up 2.72% during midday trading on Monday, hitting $24.20. The stock had a trading volume of 8,144,896 shares. The firm’s market cap is $9.05 billion. The stock has a 50-day moving average price of $21.47 and a 200 day moving average price of $17.02. Square, Inc. has a one year low of $8.42 and a one year high of $24.97.
Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, May 3rd. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. The company had revenue of $461.55 million for the quarter, compared to analysts’ expectations of $450.66 million. Square had a negative return on equity of 15.81% and a negative net margin of 5.02%. On average, analysts predict that Square, Inc. will post ($0.19) earnings per share for the current year.
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Several research firms have weighed in on SQ. Needham & Company LLC lifted their target price on Square from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. Royal Bank Of Canada lifted their target price on Square from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, February 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 target price (up from $15.00) on shares of Square in a research report on Thursday, February 23rd. Zacks Investment Research raised Square from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research report on Tuesday, February 28th. Finally, Mizuho boosted their price objective on Square from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $19.52.
In other news, Director James Morgan Jr. Mckelvey sold 90,000 shares of Square stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $16.78, for a total transaction of $1,510,200.00. Following the transaction, the director now owns 186,308 shares in the company, valued at $3,126,248.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sarah Friar sold 38,400 shares of Square stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $17.25, for a total value of $662,400.00. Following the transaction, the chief financial officer now owns 110,585 shares in the company, valued at approximately $1,907,591.25. The disclosure for this sale can be found here. Insiders sold a total of 2,620,738 shares of company stock worth $48,964,916 over the last 90 days. Insiders own 42.60% of the company’s stock.
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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