JPMorgan Chase & Co. grew its position in shares of Square Inc (NYSE:SQ) by 64.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,146,413 shares of the technology company’s stock after buying an additional 842,014 shares during the quarter. JPMorgan Chase & Co. owned 0.56% of Square worth $61,150,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Almanack Investment Partners LLC. purchased a new position in Square during the 2nd quarter worth $117,000. Hudock Capital Group LLC purchased a new position in Square during the 3rd quarter worth $157,000. Riverhead Capital Management LLC purchased a new position in Square during the 2nd quarter worth $149,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Square by 19.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after buying an additional 1,099 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Square during the 3rd quarter worth $205,000. Institutional investors own 54.31% of the company’s stock.
SQ has been the topic of a number of recent analyst reports. Tigress Financial reaffirmed a “buy” rating on shares of Square in a research note on Monday, September 25th. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Monday, September 25th. Vetr cut shares of Square from a “strong-buy” rating to a “buy” rating and set a $30.12 price target on the stock. in a research note on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $29.00 price target (up from $27.00) on shares of Square in a research note on Wednesday, August 9th. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $28.00 price target on shares of Square in a research note on Wednesday, August 9th. One equities 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. Square has a consensus rating of “Buy” and an average target price of $33.82.
In other Square news, insider Ajmere Dale sold 20,286 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $39.12, for a total transaction of $793,588.32. Following the sale, the insider now directly owns 134,518 shares of the company’s stock, valued at approximately $5,262,344.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $28.36, for a total transaction of $1,089,024.00. Following the sale, the chief financial officer now directly owns 366,103 shares in the company, valued at $10,382,681.08. The disclosure for this sale can be found here. Insiders have sold a total of 1,479,827 shares of company stock worth $50,048,434 over the last ninety days. 32.68% of the stock is owned by corporate insiders.
Shares of Square Inc (NYSE:SQ) traded up $0.01 during midday trading on Thursday, reaching $37.61. 28,820,400 shares of the company were exchanged, compared to its average volume of 9,085,351. Square Inc has a 12-month low of $13.40 and a 12-month high of $49.56. 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 (NYSE:SQ) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The firm had revenue of $257.12 million for the quarter, compared to analysts’ expectations of $244.95 million. During the same period in the prior year, the company earned $0.01 EPS. The firm’s revenue was up 44.6% on a year-over-year basis. equities research analysts expect that Square Inc will post -0.16 earnings per share for the current year.
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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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