JFS Wealth Advisors LLC raised its holdings in Square, Inc. (NYSE:SQ) by 769.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,260 shares of the technology company’s stock after acquiring an additional 2,000 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Square were worth $224,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in Square by 17.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 103,520 shares of the technology company’s stock worth $5,093,000 after purchasing an additional 15,165 shares during the period. Xact Kapitalforvaltning AB increased its holdings in Square by 7.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 45,659 shares of the technology company’s stock worth $2,814,000 after purchasing an additional 3,200 shares during the period. Atria Investments LLC purchased a new stake in Square during the 2nd quarter worth about $212,000. Bank of Montreal Can increased its holdings in Square by 3.0% during the 2nd quarter. Bank of Montreal Can now owns 156,125 shares of the technology company’s stock worth $9,624,000 after purchasing an additional 4,553 shares during the period. Finally, GWM Advisors LLC purchased a new stake in Square during the 2nd quarter worth about $369,000. 48.16% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on SQ. Credit Suisse Group upped their price objective on Square from $81.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 10th. Guggenheim upped their price objective on Square from $75.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Mizuho upped their price objective on Square from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 8th. Buckingham Research upped their price objective on Square from $85.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Finally, Deutsche Bank upped their price objective on Square from $78.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have issued a buy rating to the stock. Square has a consensus rating of “Hold” and an average price target of $82.89.
In other news, CEO Jack Dorsey sold 103,035 shares of the stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $62.29, for a total transaction of $6,418,050.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sivan Whiteley sold 5,224 shares of the stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $99.41, for a total value of $519,317.84. Following the transaction, the insider now directly owns 490,344 shares of the company’s stock, valued at $48,745,097.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,482,286 shares of company stock valued at $194,762,300. Company insiders own 27.99% of the company’s stock.
Square stock opened at $63.51 on Thursday. Square, Inc. has a twelve month low of $34.14 and a twelve month high of $101.15. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.80. The company has a market cap of $26.26 billion, a price-to-earnings ratio of -635.10 and a beta of 4.24.
Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Square had a negative return on equity of 1.11% and a negative net margin of 0.87%. The company had revenue of $431.00 million during the quarter, compared to analysts’ expectations of $414.19 million. During the same period last year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 67.7% on a year-over-year basis. As a group, research analysts forecast that Square, Inc. will post -0.02 EPS for the current year.
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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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