Square (NYSE:SQ)‘s stock had its “hold” rating reiterated by Piper Jaffray Companies in a report released on Thursday. They presently have a $45.00 price objective on the technology company’s stock. Piper Jaffray Companies’ price objective points to a potential downside of 2.20% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Stephens reaffirmed a “buy” rating and set a $41.00 target price on shares of Square in a report on Wednesday, January 10th. Craig Hallum reaffirmed a “hold” rating and set a $41.00 target price (up from $33.00) on shares of Square in a report on Wednesday. Barclays increased their price target on shares of Square from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday. Guggenheim reiterated a “buy” rating and set a $50.00 price target on shares of Square in a research report on Thursday. Finally, Citigroup reiterated an “outperform” rating and set a $52.00 price target (up previously from $41.00) on shares of Square in a research report on Thursday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Square presently has an average rating of “Buy” and a consensus target price of $42.56.
Shares of Square (SQ) traded down $0.04 on Thursday, hitting $46.01. 17,570,000 shares of the stock traded hands, compared to its average volume of 14,720,000. Square has a 12 month low of $16.11 and a 12 month high of $49.56. The company has a market capitalization of $17,880.00 and a PE ratio of -270.65. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 1.81.
In other news, insider Hillary B. Smith sold 75,103 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $37.56, for a total transaction of $2,820,868.68. Following the completion of the transaction, the insider now owns 563,798 shares of the company’s stock, valued at $21,176,252.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajmere Dale sold 2,814 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $37.23, for a total transaction of $104,765.22. The disclosure for this sale can be found here. Insiders sold 1,578,341 shares of company stock worth $63,958,753 in the last 90 days. Company insiders own 32.68% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SQ. Ark Investment Management LLC raised its stake in shares of Square by 18.2% during the second quarter. Ark Investment Management LLC now owns 288,524 shares of the technology company’s stock valued at $6,769,000 after acquiring an additional 44,524 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Square by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 11,706 shares of the technology company’s stock valued at $274,000 after acquiring an additional 921 shares during the last quarter. Aperio Group LLC raised its stake in shares of Square by 25.7% during the third quarter. Aperio Group LLC now owns 12,041 shares of the technology company’s stock valued at $347,000 after acquiring an additional 2,460 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Square during the third quarter valued at $1,057,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Square by 111.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 143,724 shares of the technology company’s stock valued at $4,141,000 after acquiring an additional 75,627 shares during the last quarter. 53.31% of the stock is owned by hedge funds and other institutional investors.
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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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