Wells Fargo & Company MN Decreases Holdings in Square Inc (SQ)
Wells Fargo & Company MN reduced its stake in shares of Square Inc (NYSE:SQ) by 31.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,859,203 shares of the technology company’s stock after selling 1,746,615 shares during the quarter. Wells Fargo & Company MN owned 1.01% of Square worth $111,183,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Makena Capital Management LLC acquired a new stake in shares of Square during the 2nd quarter worth $4,561,000. California Public Employees Retirement System raised its position in Square by 10.3% in the second quarter. California Public Employees Retirement System now owns 353,700 shares of the technology company’s stock valued at $8,298,000 after purchasing an additional 33,100 shares during the last quarter. Royce & Associates LP raised its position in Square by 55.6% in the second quarter. Royce & Associates LP now owns 235,000 shares of the technology company’s stock valued at $5,513,000 after purchasing an additional 84,000 shares during the last quarter. California State Teachers Retirement System raised its position in Square by 285.7% in the second quarter. California State Teachers Retirement System now owns 395,757 shares of the technology company’s stock valued at $9,284,000 after purchasing an additional 293,137 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in Square by 2.9% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,190,200 shares of the technology company’s stock valued at $74,842,000 after purchasing an additional 90,200 shares during the last quarter. 54.31% of the stock is currently owned by institutional investors.
In related news, CFO Sarah Friar sold 19,200 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $28.41, for a total transaction of $545,472.00. Following the completion of the transaction, the chief financial officer now directly owns 366,103 shares in the company, valued at $10,400,986.23. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $27.22, for a total value of $10,888,000.00. Following the transaction, the director now owns 507,385 shares of the company’s stock, valued at $13,811,019.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,425,591 shares of company stock worth $47,976,777. 32.68% of the stock is currently owned by corporate insiders.
Shares of Square Inc (SQ) traded up $1.10 on Tuesday, hitting $37.97. The company’s stock had a trading volume of 10,944,139 shares, compared to its average volume of 8,948,337. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81. Square Inc has a 52-week low of $13.03 and a 52-week high of $49.56.
Square (NYSE:SQ) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The firm had revenue of $257.12 million for the quarter, compared to analyst estimates of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The business’s revenue was up 44.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. research analysts anticipate that Square Inc will post -0.16 earnings per share for the current fiscal year.
Several equities analysts have commented on the company. Vetr downgraded Square from a “buy” rating to a “hold” rating and set a $45.60 target price for the company. in a research report on Monday, November 20th. Cantor Fitzgerald increased their target price on Square to $41.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. Oppenheimer reiterated a “buy” rating on shares of Square in a research report on Monday, November 20th. Royal Bank Of Canada reiterated a “buy” rating and issued a $31.00 target price on shares of Square in a research report on Sunday, October 8th. Finally, Zacks Investment Research downgraded Square from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $33.82.
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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