Vetr upgraded shares of Square, Inc. (NYSE:SQ) from a hold rating to a buy rating in a report issued on Tuesday, October 17th. They currently have $34.27 price objective on the technology company’s stock.
A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research raised Square from a hold rating to a buy rating and set a $37.00 target price for the company in a research report on Monday, October 16th. CIBC started coverage on Square in a research report on Thursday, October 12th. They issued an outperform rating and a $35.00 price objective for the company. Oppenheimer Holdings, Inc. started coverage on Square in a research report on Thursday, October 12th. They issued an outperform rating and a $35.00 price objective for the company. Bank of America Corporation increased their price objective on Square from $29.00 to $31.00 and gave the company a neutral rating in a research report on Monday, October 9th. Finally, Royal Bank Of Canada reissued a buy rating and issued a $31.00 price objective on shares of Square in a research report on Sunday, October 8th. Twelve research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Square has a consensus rating of Buy and an average price target of $28.40.
Shares of Square (SQ) traded up $0.10 during midday trading on Tuesday, hitting $36.99. The company had a trading volume of 4,631,149 shares, compared to its average volume of 8,055,577. Square has a 1-year low of $11.43 and a 1-year high of $37.52. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.30 and a quick ratio of 2.30.
In related news, CFO Sarah Friar sold 19,200 shares of Square stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $25.54, for a total value of $490,368.00. Following the sale, the chief financial officer now owns 366,103 shares of the company’s stock, valued at approximately $9,350,270.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $32.72, for a total value of $13,088,000.00. Following the completion of the sale, the director now directly owns 507,732 shares in the company, valued at approximately $16,612,991.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,353,600 shares of company stock worth $38,351,040. 32.68% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Almanack Investment Partners LLC. acquired a new position in shares of Square during the 2nd quarter worth approximately $117,000. Riverhead Capital Management LLC acquired a new position in shares of Square during the 2nd quarter worth approximately $149,000. Hudock Capital Group LLC acquired a new position in shares of Square during the 3rd quarter worth approximately $157,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Square by 19.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after purchasing an additional 1,099 shares during the last quarter. Finally, FNY Partners Fund LP increased its position in shares of Square by 55.4% during the 1st quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock worth $174,000 after purchasing an additional 3,600 shares during the last quarter. 53.91% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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