Square, Inc. (NYSE:SQ) shares gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $73.44, but opened at $73.27. Square shares last traded at $68.70, with a volume of 909841 shares.

Specifically, CEO Jack Dorsey sold 103,035 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $79.61, for a total transaction of $8,202,616.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sivan Whiteley sold 5,224 shares of the firm’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $99.41, for a total value of $519,317.84. Following the transaction, the insider now directly owns 490,344 shares of the company’s stock, valued at approximately $48,745,097.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,122,615 shares of company stock valued at $174,706,822. 27.99% of the stock is currently owned by company insiders.

A number of research firms recently weighed in on SQ. Mizuho raised their price objective on Square from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 8th. Wells Fargo & Co raised their price objective on Square from $60.00 to $80.00 and gave the company a “market perform” rating in a research report on Thursday, November 8th. Susquehanna Bancshares reaffirmed a “neutral” rating on shares of Square in a research report on Thursday, November 8th. They noted that the move was a valuation call. Needham & Company LLC raised their price objective on Square from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $95.00 price objective (up previously from $90.00) on shares of Square in a research report on Thursday, November 8th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $79.76.

The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $30.07 billion, a P/E ratio of -718.50 and a beta of 4.30.

Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Square had a negative return on equity of 1.11% and a negative net margin of 0.87%. The company had revenue of $431.00 million during the quarter, compared to analyst estimates of $414.19 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. Square’s revenue was up 67.7% compared to the same quarter last year. Equities analysts anticipate that Square, Inc. will post -0.03 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Invictus RG bought a new stake in shares of Square in the third quarter worth $1,415,000. First Republic Investment Management Inc. grew its holdings in shares of Square by 22.3% in the third quarter. First Republic Investment Management Inc. now owns 99,453 shares of the technology company’s stock worth $9,847,000 after acquiring an additional 18,141 shares during the period. Wedbush Securities Inc. grew its holdings in shares of Square by 7.8% in the third quarter. Wedbush Securities Inc. now owns 29,120 shares of the technology company’s stock worth $2,883,000 after acquiring an additional 2,099 shares during the period. Ibex Investors LLC bought a new stake in shares of Square in the third quarter worth $245,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Square by 208.7% in the third quarter. Renaissance Technologies LLC now owns 536,300 shares of the technology company’s stock worth $53,099,000 after acquiring an additional 362,577 shares during the period. 51.16% of the stock is owned by institutional investors.

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Square Company Profile (NYSE:SQ)

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.

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