Square, Inc. (NYSE:SQ) saw some unusual options trading activity on Monday. Stock investors bought 11,023 put options on the stock. This represents an increase of approximately 385% compared to the typical daily volume of 2,271 put options.
A number of research analysts recently issued reports on SQ shares. Vetr raised Square from a “buy” rating to a “strong-buy” rating and set a $26.28 price target for the company in a report on Monday, July 10th. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday, August 1st. Citigroup Inc. lifted their price target on Square from $23.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 6th. Deutsche Bank AG lifted their price target on Square from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday, May 15th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $24.00 price target on shares of Square in a report on Wednesday, July 26th. Eleven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.61.
Shares of Square (NYSE SQ) opened at 25.59 on Thursday. The stock has a 50 day moving average price of $25.13 and a 200-day moving average price of $19.69. The company’s market capitalization is $9.63 billion. Square has a 52 week low of $10.88 and a 52 week high of $27.97.
Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The company had revenue of $240 million during the quarter, compared to the consensus estimate of $228.64 million. During the same period last year, the company earned ($0.08) earnings per share. The firm’s revenue was up 40.4% compared to the same quarter last year. Equities research analysts expect that Square will post $0.19 EPS for the current year.
In related news, CEO Jack Dorsey sold 381,500 shares of Square stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $20.42, for a total value of $7,790,230.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sarah Friar sold 38,400 shares of Square stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $22.09, for a total value of $848,256.00. Following the completion of the transaction, the chief financial officer now directly owns 375,023 shares of the company’s stock, valued at $8,284,258.07. The disclosure for this sale can be found here. Insiders sold a total of 914,900 shares of company stock worth $20,202,610 in the last 90 days. 32.68% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Square by 0.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock worth $175,000 after buying an additional 30 shares during the period. Neuberger Berman Group LLC increased its position in shares of Square by 2.1% in the second quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock worth $240,000 after buying an additional 212 shares during the period. Stifel Financial Corp increased its position in shares of Square by 1.8% in the first quarter. Stifel Financial Corp now owns 26,635 shares of the technology company’s stock worth $461,000 after buying an additional 473 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Square by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock worth $1,084,000 after buying an additional 513 shares during the period. Finally, First Mercantile Trust Co. increased its position in shares of Square by 2.2% in the first quarter. First Mercantile Trust Co. now owns 31,641 shares of the technology company’s stock worth $547,000 after buying an additional 690 shares during the period. Institutional investors own 76.25% 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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