Square Target of Unusually Large Options Trading (SQ)
Square Inc (NYSE:SQ) saw unusually large options trading on Wednesday. Traders purchased 35,867 call options on the stock. This represents an increase of 916% compared to the typical daily volume of 3,529 call options.
In other news, CFO Sarah Friar sold 19,200 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $26.25, for a total transaction of $504,000.00. Following the transaction, the chief financial officer now directly owns 368,791 shares in the company, valued at approximately $9,680,763.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $25.02, for a total value of $10,008,000.00. Following the transaction, the director now owns 507,385 shares in the company, valued at $12,694,772.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 972,800 shares of company stock worth $25,520,512. 32.68% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of Square by 114.7% in the 2nd quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after purchasing an additional 12,764,491 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Square by 73.4% in the 2nd quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after purchasing an additional 8,058,892 shares during the last quarter. Capital World Investors boosted its holdings in shares of Square by 32.8% in the 2nd quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after purchasing an additional 3,853,000 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Square by 5.8% in the 2nd quarter. Renaissance Technologies LLC now owns 9,076,600 shares of the technology company’s stock valued at $212,937,000 after purchasing an additional 498,100 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Square by 23.0% in the 2nd quarter. BlackRock Inc. now owns 6,618,987 shares of the technology company’s stock valued at $155,282,000 after purchasing an additional 1,235,662 shares during the last quarter. Institutional investors own 53.83% of the company’s stock.
Several research analysts have recently weighed in on the company. Credit Suisse Group AG restated a “neutral” rating and set a $26.00 target price (up from $25.00) on shares of Square in a report on Wednesday, August 9th. Vetr cut Square from a “buy” rating to a “hold” rating and set a $31.08 target price on the stock. in a report on Wednesday. Royal Bank Of Canada restated an “outperform” rating and set a $31.00 target price (up from $24.00) on shares of Square in a report on Wednesday, August 9th. Zacks Investment Research cut Square from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Canaccord Genuity boosted their target price on Square from $18.00 to $26.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Thirteen equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.24.
Shares of Square (SQ) opened at 30.76 on Friday. The stock’s market cap is $11.80 billion. The firm has a 50-day moving average price of $27.34 and a 200-day moving average price of $23.25. Square has a 12 month low of $10.88 and a 12 month high of $30.90.
Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $240.00 million for the quarter, compared to analyst estimates of $228.64 million. Square had a negative net margin of 2.89% and a negative return on equity of 9.62%. Square’s revenue for the quarter was up 40.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) EPS. Equities analysts expect that Square will post $0.24 EPS for the current fiscal year.
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Square Company Profile
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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