Square, Inc. (NYSE:SQ) saw a large growth in short interest during the month of October. As of October 13th, there was short interest totalling 32,969,836 shares, a growth of 16.2% from the September 29th total of 28,380,725 shares. Based on an average trading volume of 6,458,215 shares, the short-interest ratio is presently 5.1 days. Currently, 13.8% of the shares of the stock are short sold.

A number of research analysts have recently commented on the company. Credit Suisse Group increased their price target on Square from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. Barclays PLC restated an “overweight” rating and issued a $28.00 price objective (up from $21.00) on shares of Square in a report on Thursday, August 3rd. Craig Hallum restated a “hold” rating and issued a $23.00 price objective (up from $18.00) on shares of Square in a report on Thursday, August 3rd. KeyCorp restated an “overweight” rating on shares of Square in a report on Tuesday, July 18th. Finally, Wedbush began coverage on Square in a report on Thursday, August 3rd. They issued a “neutral” rating and a $28.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Square has a consensus rating of “Buy” and an average price target of $26.75.

Shares of Square (NYSE SQ) opened at 35.20 on Friday. Square has a 52 week low of $11.00 and a 52 week high of $35.29. The firm’s market capitalization is $13.51 billion. The stock has a 50 day moving average price of $30.30 and a 200 day moving average price of $24.94.

Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $240.00 million for the quarter, compared to analysts’ expectations of $228.64 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. Square’s quarterly revenue was up 40.4% on a year-over-year basis. Analysts forecast that Square will post $0.24 EPS for the current year.

In other news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $32.81, for a total value of $1,259,904.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total value of $10,008,000.00. Following the completion of the transaction, the director now owns 507,385 shares of the company’s stock, valued at $12,694,772.70. The disclosure for this sale can be found here. Insiders sold a total of 1,353,600 shares of company stock valued at $38,351,040 over the last quarter. 32.68% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SQ. FMR LLC increased its position in shares of Square by 114.7% during the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after buying an additional 12,764,491 shares during the period. Vanguard Group Inc. increased its position in shares of Square by 73.4% during the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after buying an additional 8,058,892 shares during the period. BlackRock Inc. increased its position in shares of Square by 7,162.2% during the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock valued at $93,023,000 after buying an additional 5,309,197 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Square by 556.5% during the second quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock valued at $107,786,000 after buying an additional 3,894,639 shares during the period. Finally, Capital World Investors increased its position in shares of Square by 32.8% during the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after buying an additional 3,853,000 shares during the period. Institutional investors own 53.89% of the company’s stock.

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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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