James Morgan Jr. Mckelvey Sells 400,000 Shares of Square, Inc. (SQ) Stock
Square, Inc. (NYSE:SQ) Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $39.15, for a total value of $15,660,000.00. Following the completion of the sale, the director now owns 507,732 shares in the company, valued at $19,877,707.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
James Morgan Jr. Mckelvey also recently made the following trade(s):
- On Tuesday, October 17th, James Morgan Jr. Mckelvey sold 400,000 shares of Square stock. The shares were sold at an average price of $32.72, for a total value of $13,088,000.00.
- On Monday, September 11th, James Morgan Jr. Mckelvey sold 400,000 shares of Square stock. The shares were sold at an average price of $27.22, for a total value of $10,888,000.00.
Shares of Square, Inc. (SQ) traded up $2.18 on Friday, reaching $44.08. The company’s stock had a trading volume of 36,370,000 shares, compared to its average volume of 10,240,000. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48. Square, Inc. has a 1-year low of $11.88 and a 1-year high of $45.74.
Square (NYSE:SQ) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The business had revenue of $257.12 million during the quarter, compared to analyst estimates of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. Square’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 earnings per share. sell-side analysts anticipate that Square, Inc. will post -0.16 earnings per share for the current fiscal year.
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A number of equities research analysts recently issued reports on the company. Evercore ISI upgraded Square from an “in-line” rating to an “outperform” rating in a research note on Friday. The Goldman Sachs Group, Inc. upgraded Square to a “buy” rating in a research note on Thursday. Nomura boosted their price objective on Square from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday. Zacks Investment Research cut Square from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Jefferies Group LLC boosted their price objective on Square from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Monday. Fourteen analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Square currently has an average rating of “Buy” and a consensus price target of $32.37.
Institutional investors and hedge funds have recently modified their holdings of the business. Almanack Investment Partners LLC. purchased a new stake in Square in the second quarter worth approximately $117,000. Hudock Capital Group LLC purchased a new stake in shares of Square during the third quarter valued at approximately $157,000. Riverhead Capital Management LLC purchased a new stake in shares of Square during the second quarter valued at approximately $149,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Square by 19.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,099 shares during the period. Finally, Prudential Financial Inc. purchased a new stake in shares of Square during the third quarter valued at approximately $205,000. 53.24% of the stock is owned by institutional investors and hedge funds.
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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