First Allied Advisory Services Inc. Has $467,000 Position in Square, Inc. (SQ)

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First Allied Advisory Services Inc. cut its holdings in Square, Inc. (NYSE:SQ) by 40.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,656 shares of the technology company’s stock after selling 5,251 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Square were worth $467,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Sheaff Brock Investment Advisors LLC raised its stake in 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 buying an additional 861 shares during the last quarter. Horan Capital Management raised its stake in Square by 7.2% in the second quarter. Horan Capital Management now owns 14,900 shares of the technology company’s stock valued at $918,000 after buying an additional 1,000 shares during the last quarter. Ancora Advisors LLC raised its stake in Square by 13.4% in the first quarter. Ancora Advisors LLC now owns 11,225 shares of the technology company’s stock valued at $552,000 after buying an additional 1,325 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in 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 valued at $4,318,000 after buying an additional 1,330 shares during the last quarter. Finally, Comerica Bank raised its stake in Square by 14.2% in the second quarter. Comerica Bank now owns 10,822 shares of the technology company’s stock valued at $739,000 after buying an additional 1,342 shares during the last quarter. Institutional investors own 52.04% of the company’s stock.

In related news, insider Ajmere Dale sold 5,315 shares of the firm’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $61.13, for a total transaction of $324,905.95. Following the sale, the insider now directly owns 126,745 shares of the company’s stock, valued at $7,747,921.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alyssa Henry sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $80.07, for a total value of $4,003,500.00. Following the sale, the insider now directly owns 494,544 shares in the company, valued at $39,598,138.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,553,260 shares of company stock worth $105,688,054. 27.99% of the stock is owned by corporate insiders.

SQ has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on Square in a research note on Tuesday, July 17th. They issued a “market perform” rating for the company. KeyCorp reiterated an “overweight” rating and issued a $70.00 price target (up from $55.00) on shares of Square in a research note on Tuesday, June 19th. Deutsche Bank increased their price target on Square from $57.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. SunTrust Banks increased their price target on Square from $45.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, June 29th. Finally, Stifel Nicolaus increased their price target on Square from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $60.89.

Square stock opened at $87.76 on Friday. The stock has a market cap of $32.12 billion, a P/E ratio of -877.60 and a beta of 4.13. Square, Inc. has a 52 week low of $24.64 and a 52 week high of $89.22. 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 (NYSE:SQ) last posted its earnings results on Wednesday, August 1st. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.14. The firm had revenue of $385.00 million for the quarter, compared to analyst estimates of $367.99 million. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. Square’s revenue for the quarter was up 60.4% compared to the same quarter last year. During the same period last year, the company earned $0.07 earnings per share. research analysts anticipate that Square, Inc. will post -0.04 earnings per share for the current fiscal year.

Square 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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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