First Republic Investment Management Inc. increased its position in Square, Inc. (NYSE:SQ) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,671 shares of the technology company’s stock after acquiring an additional 824 shares during the period. First Republic Investment Management Inc.’s holdings in Square were worth $5,234,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Stonebridge Financial Planning Group LLC bought a new stake in Square during the fourth quarter valued at about $29,000. Americana Partners LLC bought a new stake in Square during the fourth quarter valued at about $29,000. Acadian Asset Management LLC bought a new stake in Square during the fourth quarter valued at about $34,000. S.A. Mason LLC bought a new stake in Square during the fourth quarter valued at about $37,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Square during the fourth quarter valued at about $38,000. 58.59% of the stock is owned by institutional investors.
NYSE SQ opened at $46.31 on Wednesday. The stock has a 50-day simple moving average of $70.92 and a two-hundred day simple moving average of $66.03. The firm has a market capitalization of $17.41 billion, a P/E ratio of 59.37, a PEG ratio of 78.11 and a beta of 2.71. Square, Inc. has a fifty-two week low of $32.33 and a fifty-two week high of $87.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.90 and a current ratio of 1.90.
Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, February 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Square had a return on equity of 6.57% and a net margin of 7.97%. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.19 billion. As a group, analysts forecast that Square, Inc. will post 0.02 earnings per share for the current year.
In related news, insider Alyssa Henry sold 20,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $70.17, for a total transaction of $1,403,400.00. Following the completion of the transaction, the insider now owns 415,604 shares in the company, valued at $29,162,932.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline D. Reses sold 82,720 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $63.64, for a total transaction of $5,264,300.80. Following the completion of the transaction, the insider now owns 248,534 shares of the company’s stock, valued at approximately $15,816,703.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,316 shares of company stock worth $7,064,905. Corporate insiders own 21.79% of the company’s stock.
Several analysts have issued reports on the company. Credit Suisse Group boosted their price target on Square from $84.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Berenberg Bank boosted their price target on Square from $58.00 to $67.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Zacks Investment Research lowered Square from a “buy” rating to a “hold” rating and set a $71.00 price target for the company. in a report on Thursday, January 9th. Stephens cut their price target on Square from $78.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, March 17th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $85.00 price target on shares of Square in a report on Monday, March 9th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and eighteen have assigned a buy rating to the company. Square presently has a consensus rating of “Hold” and a consensus target price of $69.78.
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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