Investment House LLC Has $804,000 Stake in Square Inc. (SQ)
Investment House LLC increased its stake in shares of Square Inc. (NYSE:SQ) by 486.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,855 shares of the company’s stock after buying an additional 73,695 shares during the period. Investment House LLC’s holdings in Square were worth $804,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Creative Planning increased its stake in shares of Square by 76.2% in the second quarter. Creative Planning now owns 14,719 shares of the company’s stock valued at $133,000 after buying an additional 6,365 shares in the last quarter. BlackRock Inc. increased its stake in shares of Square by 28.0% in the first quarter. BlackRock Inc. now owns 42,526 shares of the company’s stock valued at $649,000 after buying an additional 9,309 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Square during the first quarter valued at $206,000. Harvest Capital Strategies LLC acquired a new stake in shares of Square during the first quarter valued at $308,000. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Square by 9.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 337,460 shares of the company’s stock valued at $5,156,000 after buying an additional 29,598 shares in the last quarter. Institutional investors own 16.89% of the company’s stock.
Shares of Square Inc. (NYSE:SQ) traded up 2.06% during mid-day trading on Wednesday, hitting $11.90. The company had a trading volume of 2,297,731 shares. The firm’s market capitalization is $4.07 billion. The firm has a 50-day moving average price of $11.63 and a 200 day moving average price of $11.28. Square Inc. has a 12 month low of $8.06 and a 12 month high of $15.91.
Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The firm had revenue of $439 million for the quarter, compared to the consensus estimate of $406.93 million. Square had a negative return on equity of 37.14% and a negative net margin of 14.85%. The company’s quarterly revenue was up 54.1% compared to the same quarter last year. On average, equities research analysts forecast that Square Inc. will post ($0.60) earnings per share for the current fiscal year.
Several equities research analysts have weighed in on the company. Vetr downgraded Square from a “strong-buy” rating to a “buy” rating and set a $13.56 price target for the company. in a report on Wednesday, August 31st. BTIG Research downgraded Square from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $15.91 to $12.00 in a report on Monday, August 29th. Stifel Nicolaus raised Square from a “hold” rating to a “buy” rating and raised their price target for the stock from $8.06 to $15.00 in a report on Monday, August 22nd. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $15.00 price target on shares of Square in a report on Thursday, August 4th. Finally, RBC Capital Markets reissued a “buy” rating on shares of Square in a report on Friday, August 5th. Fifteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Square has an average rating of “Buy” and a consensus target price of $12.81.
In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $11.27, for a total transaction of $4,508,000.00. Following the completion of the sale, the director now directly owns 424,837 shares of the company’s stock, valued at approximately $4,787,912.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lawrence Henry Summers sold 23,125 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $12.50, for a total value of $289,062.50. Following the sale, the director now directly owns 50,507 shares of the company’s stock, valued at $631,337.50. The disclosure for this sale can be found here. Corporate insiders own 42.60% of the company’s stock.
Square, Inc enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses. It serves as a payment service provider, acting as the touch point for the seller to the rest of the payment chain.
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