Square, Inc. (SQ) Director James Morgan Jr. Mckelvey Sells 400,000 Shares

Square, Inc. (NYSE:SQ) Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $65.71, for a total value of $26,284,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

James Morgan Jr. Mckelvey also recently made the following trade(s):

  • On Monday, June 11th, James Morgan Jr. Mckelvey sold 400,000 shares of Square stock. The shares were sold at an average price of $61.56, for a total value of $24,624,000.00.
  • On Monday, May 14th, James Morgan Jr. Mckelvey sold 400,000 shares of Square stock. The shares were sold at an average price of $55.13, for a total value of $22,052,000.00.
  • On Monday, April 16th, James Morgan Jr. Mckelvey sold 400,000 shares of Square stock. The shares were sold at an average price of $46.90, for a total value of $18,760,000.00.

Shares of Square traded up $0.57, reaching $65.33, on Wednesday, Marketbeat Ratings reports. The stock had a trading volume of 5,845,580 shares, compared to its average volume of 12,980,481. The company has a market cap of $26.64 billion, a P/E ratio of -653.30 and a beta of 4.32. Square, Inc. has a 1 year low of $24.22 and a 1 year high of $69.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.76.

Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. The firm had revenue of $307.00 million for the quarter, compared to the consensus estimate of $293.07 million. Square had a negative return on equity of 7.03% and a negative net margin of 2.96%. The company’s revenue for the quarter was up 50.5% on a year-over-year basis. During the same period last year, the business posted $0.05 EPS. analysts expect that Square, Inc. will post 0.01 earnings per share for the current year.

A number of research analysts recently weighed in on SQ shares. Vetr raised Square from a “hold” rating to a “buy” rating and set a $56.24 price objective for the company in a research report on Tuesday, March 13th. Craig Hallum lowered Square from a “hold” rating to a “sell” rating and set a $37.00 price objective for the company. in a research report on Friday, March 23rd. Deutsche Bank raised their price objective on Square from $47.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, March 23rd. Evercore ISI reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Square in a research report on Monday, March 26th. Finally, Buckingham Research raised their price objective on Square from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, April 3rd. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $54.40.

Several hedge funds have recently added to or reduced their stakes in SQ. Envestnet Asset Management Inc. lifted its position in Square by 1,476.2% during the first quarter. Envestnet Asset Management Inc. now owns 2,317 shares of the technology company’s stock valued at $114,000 after purchasing an additional 2,170 shares in the last quarter. McKinley Carter Wealth Services Inc. purchased a new position in Square during the first quarter valued at $138,000. Sheaff Brock Investment Advisors LLC purchased a new position in Square during the first quarter valued at $220,000. Profund Advisors LLC purchased a new position in Square during the first quarter valued at $239,000. Finally, Bronfman E.L. Rothschild L.P. lifted its position in Square by 78.8% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,946 shares of the technology company’s stock valued at $243,000 after purchasing an additional 2,180 shares in the last quarter. Hedge funds and other institutional investors own 52.14% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Square (NYSE:SQ)

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