Square (SQ) Trading 5.7% Higher

Square Inc (NYSE:SQ) traded up 5.7% on Friday . The company traded as high as $42.98 and last traded at $42.56. 24,106,691 shares traded hands during trading, an increase of 40% from the average session volume of 17,240,754 shares. The stock had previously closed at $40.27.

A number of equities research analysts recently weighed in on the stock. BTIG Research downgraded shares of Square from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $12.38 to $30.00 in a research note on Monday, November 27th. Vetr raised shares of Square from a “hold” rating to a “buy” rating and set a $51.38 price target for the company in a research note on Thursday, November 23rd. Oppenheimer reissued a “buy” rating on shares of Square in a research note on Monday, November 20th. Wells Fargo & Co assumed coverage on shares of Square in a research note on Tuesday, November 21st. They set a “market perform” rating and a $42.00 price target for the company. Finally, Credit Suisse Group reissued a “positive” rating and set a $37.00 price target (up from $31.00) on shares of Square in a research note on Monday, November 20th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $35.83.

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81.

Square (NYSE:SQ) last issued its quarterly earnings data 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. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The company had revenue of $257.12 million during the quarter, compared to the consensus estimate of $244.95 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The firm’s revenue was up 44.6% compared to the same quarter last year. analysts expect that Square Inc will post -0.15 EPS for the current year.

In other news, insider Ajmere Dale sold 1,451 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $40.00, for a total transaction of $58,040.00. Following the completion of the sale, the insider now owns 109,586 shares of the company’s stock, valued at $4,383,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hillary B. Smith sold 3,459 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $38.95, for a total transaction of $134,728.05. Following the transaction, the insider now owns 641,154 shares of the company’s stock, valued at approximately $24,972,948.30. The disclosure for this sale can be found here. Insiders have sold 1,631,132 shares of company stock valued at $63,618,154 in the last three months. 32.68% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SQ. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Square during the fourth quarter worth $139,000. Riverhead Capital Management LLC acquired a new stake in Square in the second quarter valued at $149,000. Hudock Capital Group LLC acquired a new stake in Square in the third quarter valued at $157,000. Prudential Financial Inc. acquired a new stake in Square in the third quarter valued at $205,000. Finally, Northeast Investment Management acquired a new stake in Square in the third quarter valued at $205,000. Institutional investors and hedge funds own 54.21% of the company’s stock.

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About Square

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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