TrinityPoint Wealth LLC Reduces Holdings in Square, Inc. (NYSE:SQ)

TrinityPoint Wealth LLC cut its holdings in Square, Inc. (NYSE:SQ) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,415 shares of the technology company’s stock after selling 72 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Square were worth $345,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kistler Tiffany Companies LLC boosted its holdings in Square by 3.3% in the second quarter. Kistler Tiffany Companies LLC now owns 3,745 shares of the technology company’s stock worth $913,000 after purchasing an additional 120 shares during the last quarter. Psagot Investment House Ltd. purchased a new stake in Square during the second quarter valued at $1,249,000. Ergoteles LLC bought a new stake in Square during the second quarter valued at approximately $14,394,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Square during the 1st quarter worth $4,037,000. Finally, Belpointe Asset Management LLC increased its stake in shares of Square by 11.5% in the 2nd quarter. Belpointe Asset Management LLC now owns 7,391 shares of the technology company’s stock worth $1,803,000 after purchasing an additional 763 shares in the last quarter. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:SQ opened at $247.67 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.95 and a current ratio of 1.95. Square, Inc. has a one year low of $151.10 and a one year high of $289.23. The stock has a 50-day simple moving average of $257.13 and a 200 day simple moving average of $243.37. The company has a market capitalization of $113.85 billion, a price-to-earnings ratio of 212.92, a price-to-earnings-growth ratio of 10.06 and a beta of 2.43.

Square (NYSE:SQ) last released its quarterly earnings results on Saturday, July 31st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.35. Square had a net margin of 3.60% and a return on equity of 16.94%. The company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the firm earned $0.18 EPS. Square’s revenue was up 143.3% on a year-over-year basis. On average, equities research analysts forecast that Square, Inc. will post 0.81 EPS for the current fiscal year.

In other Square news, CFO Amrita Ahuja sold 4,104 shares of the firm’s stock in a transaction that occurred on Monday, October 4th. The stock was sold at an average price of $226.49, for a total value of $929,514.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sivan Whiteley sold 7,023 shares of Square stock in a transaction on Monday, October 4th. The stock was sold at an average price of $226.10, for a total transaction of $1,587,900.30. The disclosure for this sale can be found here. Insiders sold a total of 289,381 shares of company stock worth $75,140,618 in the last quarter. Insiders own 15.12% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Square from a “hold” rating to a “strong-buy” rating and set a $260.00 price target on the stock in a research note on Tuesday, October 5th. Raymond James raised shares of Square from an “underperform” rating to a “market perform” rating in a research note on Tuesday, August 3rd. Mizuho restated a “buy” rating and set a $380.00 target price on shares of Square in a research report on Thursday, July 15th. Truist increased their target price on shares of Square from $325.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, August 3rd. Finally, BMO Capital Markets upped their price target on shares of Square from $225.00 to $259.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $288.31.

About Square

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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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