Gulf International Bank UK Ltd raised its position in shares of Square, Inc. (NYSE:SQ) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,950 shares of the technology company’s stock after buying an additional 1,600 shares during the period. Gulf International Bank UK Ltd’s holdings in Square were worth $9,301,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Regentatlantic Capital LLC bought a new position in Square in the 3rd quarter worth $249,000. Checchi Capital Advisers LLC bought a new position in Square in the 3rd quarter worth $284,000. Boston Family Office LLC bought a new position in Square in the 2nd quarter worth $341,000. Cognios Capital LLC raised its holdings in Square by 18.2% in the 2nd quarter. Cognios Capital LLC now owns 24,549 shares of the technology company’s stock worth $1,513,000 after purchasing an additional 3,779 shares in the last quarter. Finally, Brighton Jones LLC raised its holdings in Square by 39.1% in the 2nd quarter. Brighton Jones LLC now owns 11,572 shares of the technology company’s stock worth $713,000 after purchasing an additional 3,251 shares in the last quarter. 51.25% of the stock is owned by institutional investors and hedge funds.
SQ has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Square from $45.00 to $46.00 and gave the stock a “$71.60” rating in a report on Monday, July 23rd. Nomura upped their price objective on shares of Square from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Buckingham Research upgraded shares of Square from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $85.00 in a report on Monday, August 6th. Deutsche Bank upped their price objective on shares of Square from $57.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. Finally, Guggenheim restated a “buy” rating and issued a $73.00 price objective on shares of Square in a report on Friday, July 13th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Square presently has a consensus rating of “Hold” and an average price target of $78.59.
Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $431.00 million during the quarter, compared to analyst estimates of $414.19 million. Square had a negative net margin of 2.30% and a negative return on equity of 3.18%. Square’s revenue was up 67.7% compared to the same quarter last year. During the same period last year, the business earned $0.07 EPS. Equities research analysts expect that Square, Inc. will post -0.04 earnings per share for the current fiscal year.
In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $88.04, for a total transaction of $35,216,000.00. Following the completion of the sale, the director now directly owns 472,175 shares in the company, valued at approximately $41,570,287. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alyssa Henry sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $72.42, for a total transaction of $5,431,500.00. Following the sale, the insider now owns 519,544 shares of the company’s stock, valued at $37,625,376.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,197,615 shares of company stock valued at $179,553,083. 27.99% of the stock is owned by company insiders.
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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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