US Bancorp DE Decreases Stake in Square, Inc. (SQ)
US Bancorp DE decreased its stake in Square, Inc. (NYSE:SQ) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,627 shares of the technology company’s stock after selling 114 shares during the period. US Bancorp DE’s holdings in Square were worth $109,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in Square by 641.8% in the first quarter. Renaissance Technologies LLC now owns 8,578,500 shares of the technology company’s stock valued at $148,236,000 after buying an additional 7,422,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Square by 72.1% in the first quarter. Bank of New York Mellon Corp now owns 14,480,815 shares of the technology company’s stock worth $250,229,000 after buying an additional 6,065,730 shares during the last quarter. BlackRock Inc. raised its stake in Square by 7,162.2% in the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock worth $93,023,000 after buying an additional 5,309,197 shares during the last quarter. FMR LLC raised its stake in Square by 24.4% in the first quarter. FMR LLC now owns 11,124,126 shares of the technology company’s stock worth $192,225,000 after buying an additional 2,183,127 shares during the last quarter. Finally, State Treasurer State of Michigan acquired a new stake in Square during the second quarter worth about $37,301,000. 82.02% of the stock is owned by institutional investors and hedge funds.
Square, Inc. (NYSE SQ) traded up 1.9620% during midday trading on Thursday, reaching $26.2654. The company had a trading volume of 3,189,241 shares. The stock’s 50 day moving average price is $25.67 and its 200-day moving average price is $20.83. The firm’s market capitalization is $10.08 billion. Square, Inc. has a one year low of $10.88 and a one year high of $27.97.
Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $240 million during the quarter, compared to the consensus estimate of $228.64 million. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The company’s revenue for the quarter was up 40.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) earnings per share. On average, equities research analysts anticipate that Square, Inc. will post $0.24 earnings per share for the current year.
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A number of research firms have recently issued reports on SQ. Piper Jaffray Companies restated a “hold” rating and issued a $24.00 target price on shares of Square in a report on Wednesday, July 26th. Deutsche Bank AG increased their target price on Square to $28.00 and gave the company a “buy” rating in a report on Monday, July 24th. Royal Bank Of Canada increased their target price on Square from $24.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Craig Hallum restated a “hold” rating and issued a $23.00 target price (up previously from $18.00) on shares of Square in a report on Thursday, August 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $30.00 target price (up previously from $20.00) on shares of Square in a report on Thursday, August 3rd. Eleven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Square has a consensus rating of “Buy” and a consensus price target of $24.61.
In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total transaction of $10,008,000.00. Following the completion of the transaction, the director now owns 507,385 shares of the company’s stock, valued at $12,694,772.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sarah Friar sold 38,400 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $25.58, for a total transaction of $982,272.00. Following the transaction, the chief financial officer now directly owns 366,103 shares of the company’s stock, valued at approximately $9,364,914.74. The disclosure for this sale can be found here. Insiders have sold 643,600 shares of company stock valued at $16,030,464 in the last ninety days. Insiders own 32.68% of the company’s stock.
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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