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 Square stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $25.02, for a total transaction of $10,008,000.00. Following the completion of the sale, the director now directly owns 507,385 shares in the company, valued at approximately $12,694,772.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
James Morgan Jr. Mckelvey also recently made the following trade(s):
- On Monday, June 5th, James Morgan Jr. Mckelvey sold 90,000 shares of Square stock. The shares were sold at an average price of $23.36, for a total transaction of $2,102,400.00.
Square, Inc. (NYSE SQ) traded down 1.80% during mid-day trading on Thursday, reaching $24.54. 5,332,460 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $25.42 and its 200 day moving average price is $20.34. The firm’s market cap is $9.42 billion. Square, Inc. has a one year low of $10.88 and a one year high of $27.97.
Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The business had revenue of $240 million during the quarter, compared to analysts’ expectations of $228.64 million. During the same period last year, the company posted ($0.08) EPS. The business’s revenue was up 40.4% on a year-over-year basis. On average, equities analysts forecast that Square, Inc. will post $0.24 EPS for the current year.
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Institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its position in shares of Square by 54.5% in the second quarter. Public Employees Retirement System of Ohio now owns 234,768 shares of the technology company’s stock worth $5,508,000 after buying an additional 82,768 shares during the last quarter. Cypress Wealth Advisors LLC boosted its position in shares of Square by 71.0% in the second quarter. Cypress Wealth Advisors LLC now owns 107,747 shares of the technology company’s stock worth $2,802,000 after buying an additional 44,750 shares during the last quarter. National Asset Management Inc. boosted its position in shares of Square by 21.6% in the second quarter. National Asset Management Inc. now owns 12,444 shares of the technology company’s stock worth $292,000 after buying an additional 2,209 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Square by 285.7% in the second quarter. California State Teachers Retirement System now owns 395,757 shares of the technology company’s stock worth $9,284,000 after buying an additional 293,137 shares during the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of Square by 30.1% in the second quarter. Bank of Nova Scotia now owns 203,000 shares of the technology company’s stock worth $4,763,000 after buying an additional 47,000 shares during the last quarter. 68.74% of the stock is owned by institutional investors and hedge funds.
SQ has been the topic of a number of analyst reports. Credit Suisse Group cut shares of Square from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $20.00 to $25.00 in a report on Friday, June 16th. Royal Bank Of Canada lowered their target price on shares of Square to $18.00 and set a “buy” rating on the stock in a report on Monday, April 24th. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price (up previously from $20.00) on shares of Square in a report on Thursday, May 4th. KeyCorp reissued an “overweight” rating on shares of Square in a report on Tuesday, July 18th. Finally, Barclays PLC reissued an “overweight” rating and set a $28.00 target price (up previously from $21.00) on shares of Square in a report on Wednesday, August 9th. Eleven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $24.61.
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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