Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Square, Inc. (NYSE:SQ) by 2.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 55,616 shares of the technology company’s stock after acquiring an additional 1,586 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Square were worth $3,428,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Sheaff Brock Investment Advisors LLC lifted its position in shares of Square by 19.2% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 5,341 shares of the technology company’s stock valued at $329,000 after acquiring an additional 861 shares in the last quarter. Horan Capital Management increased its holdings in shares of Square by 7.2% in the second quarter. Horan Capital Management now owns 14,900 shares of the technology company’s stock worth $918,000 after purchasing an additional 1,000 shares during the last quarter. Ancora Advisors LLC increased its holdings in shares of Square by 13.4% in the first quarter. Ancora Advisors LLC now owns 11,225 shares of the technology company’s stock worth $552,000 after purchasing an additional 1,325 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Square by 1.5% in the first quarter. Great West Life Assurance Co. Can now owns 87,700 shares of the technology company’s stock worth $4,318,000 after purchasing an additional 1,330 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Square by 14.2% in the second quarter. Comerica Bank now owns 10,822 shares of the technology company’s stock worth $739,000 after purchasing an additional 1,342 shares during the last quarter. Institutional investors and hedge funds own 51.41% of the company’s stock.
In other Square news, insider Ajmere Dale sold 5,315 shares of the business’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $61.13, for a total transaction of $324,905.95. Following the completion of the transaction, the insider now owns 126,745 shares in the company, valued at $7,747,921.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline D. Reses sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $59.32, for a total value of $889,800.00. The disclosure for this sale can be found here. Insiders have sold 1,415,225 shares of company stock valued at $94,741,634 in the last 90 days. Company insiders own 27.99% of the company’s stock.
Several equities research analysts have recently issued reports on the company. Nomura lifted their target price on Square from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Deutsche Bank lifted their target price on Square from $57.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. JPMorgan Chase & Co. lifted their target price on Square from $45.00 to $46.00 and gave the stock a “$71.60” rating in a report on Monday, July 23rd. Morgan Stanley lifted their target price on Square from $43.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, July 19th. Finally, KeyCorp lifted their target price on Square from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, July 30th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $60.04.
Shares of NYSE SQ opened at $72.90 on Monday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.99. Square, Inc. has a 1-year low of $24.22 and a 1-year high of $75.45. The company has a market cap of $28.98 billion, a price-to-earnings ratio of -729.00 and a beta of 4.13.
Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.14. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. The company had revenue of $385.00 million for the quarter, compared to analysts’ expectations of $367.99 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The firm’s revenue for the quarter was up 60.4% on a year-over-year basis. analysts predict that Square, Inc. will post -0.03 EPS for the current fiscal year.
Square Company Profile
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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