Glassman Wealth Services reduced its position in shares of Square, Inc. (NYSE:SQ) by 25.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 613 shares of the technology company’s stock after selling 211 shares during the quarter. Glassman Wealth Services’ holdings in Square were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. Lenox Wealth Management Inc. acquired a new position in shares of Square in the 1st quarter valued at approximately $25,000. Enterprise Trust & Investment Co acquired a new position in Square during the 2nd quarter worth approximately $25,000. FTB Advisors Inc. acquired a new position in Square during the 1st quarter worth approximately $27,000. Cullen Frost Bankers Inc. acquired a new position in Square during the 1st quarter worth approximately $28,000. Finally, Larson Financial Group LLC boosted its position in Square by 130.7% during the 2nd quarter. Larson Financial Group LLC now owns 376 shares of the technology company’s stock worth $27,000 after acquiring an additional 213 shares during the last quarter. 55.74% of the stock is owned by hedge funds and other institutional investors.
In other news, CAO Ajmere Dale sold 2,048 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $62.47, for a total value of $127,938.56. Following the completion of the transaction, the chief accounting officer now owns 64,050 shares of the company’s stock, valued at approximately $4,001,203.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline D. Reses sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $73.26, for a total value of $366,300.00. Following the transaction, the insider now directly owns 399,914 shares of the company’s stock, valued at approximately $29,297,699.64. The disclosure for this sale can be found here. Insiders have sold a total of 77,001 shares of company stock valued at $5,295,829 over the last 90 days. 21.79% of the stock is currently owned by company insiders.
NYSE:SQ opened at $56.51 on Friday. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 2,825.52, a PEG ratio of 20.58 and a beta of 3.41. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.49 and a current ratio of 1.49. The business’s fifty day moving average is $66.46 and its 200 day moving average is $71.03. Square, Inc. has a 52-week low of $49.82 and a 52-week high of $101.15.
Square (NYSE:SQ) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.20. Square had a positive return on equity of 2.65% and a negative net margin of 1.35%. The firm had revenue of $563.00 million during the quarter, compared to analysts’ expectations of $557.67 million. During the same period in the prior year, the business earned $0.13 EPS. The company’s revenue for the quarter was up 46.2% compared to the same quarter last year. Equities analysts predict that Square, Inc. will post 0.12 EPS for the current fiscal year.
SQ has been the subject of a number of recent research reports. Atlantic Securities initiated coverage on Square in a research report on Tuesday, September 3rd. They set an “underweight” rating and a $55.00 price target for the company. Canaccord Genuity cut Square from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $88.00 to $64.00 in a research note on Thursday. Nomura upped their price objective on Square from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. BMO Capital Markets upped their price objective on Square from $91.00 to $92.00 and gave the stock a “market perform” rating in a research note on Monday, August 5th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Square in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $81.58.
Square Company Profile
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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