Francoise Brougher Sells 57,692 Shares of Square Inc. (SQ) Stock
Square Inc. (NYSE:SQ) insider Francoise Brougher sold 57,692 shares of the company’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $12.00, for a total transaction of $692,304.00. Following the sale, the insider now owns 164,977 shares of the company’s stock, valued at approximately $1,979,724. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Square Inc. (NYSE:SQ) opened at 11.66 on Friday. Square Inc. has a one year low of $8.06 and a one year high of $15.91. The company’s market capitalization is $3.98 billion. The stock has a 50 day moving average of $11.75 and a 200-day moving average of $11.28.
Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.03. Square had a negative net margin of 14.85% and a negative return on equity of 37.14%. The company earned $439 million during the quarter, compared to analysts’ expectations of $406.93 million. The business’s revenue for the quarter was up 54.1% compared to the same quarter last year. On average, equities analysts forecast that Square Inc. will post ($0.60) earnings per share for the current fiscal year.
Several analysts have commented on SQ shares. Wedbush dropped their target price on shares of Square from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 4th. Vetr cut shares of Square from a “buy” rating to a “hold” rating and set a $9.34 target price for the company. in a research report on Monday, July 18th. Mizuho reiterated a “buy” rating and set a $16.00 target price on shares of Square in a research report on Thursday, August 4th. BTIG Research reiterated a “buy” rating and set a $12.00 target price on shares of Square in a research report on Monday, June 20th. Finally, Evercore ISI boosted their price target on shares of Square from $7.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, August 4th. Fifteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $12.81.
A number of large investors have recently made changes to their positions in SQ. BlackRock Inc. boosted its stake in shares of Square by 28.0% in the first quarter. BlackRock Inc. now owns 42,526 shares of the company’s stock valued at $649,000 after buying an additional 9,309 shares during the last quarter. Creative Planning boosted its stake in shares of Square by 76.2% in the second quarter. Creative Planning now owns 14,719 shares of the company’s stock valued at $133,000 after buying an additional 6,365 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Square during the first quarter valued at $206,000. American Century Companies Inc. purchased a new stake in shares of Square during the second quarter valued at $183,000. Finally, Geode Capital Management LLC boosted its stake in shares of Square by 858.7% in the first quarter. Geode Capital Management LLC now owns 160,378 shares of the company’s stock valued at $2,450,000 after buying an additional 143,650 shares during the last quarter. 16.89% of the stock is owned by institutional investors and hedge funds.
Square, Inc enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses. It serves as a payment service provider, acting as the touch point for the seller to the rest of the payment chain.
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