Square Inc (NYSE:SQ) – Equities researchers at William Blair dropped their Q1 2018 earnings estimates for shares of Square in a note issued to investors on Monday. William Blair analyst R. Napoli now expects that the technology company will post earnings per share of ($0.02) for the quarter, down from their previous forecast of $0.01. William Blair also issued estimates for Square’s Q2 2018 earnings at ($0.03) EPS, Q3 2018 earnings at ($0.03) EPS, Q4 2018 earnings at ($0.02) EPS, FY2018 earnings at ($0.10) EPS and FY2019 earnings at $0.05 EPS.
SQ has been the subject of a number of other research reports. Vetr downgraded shares of Square from a “buy” rating to a “hold” rating and set a $45.60 target price for the company. in a research report on Monday, November 20th. Cantor Fitzgerald increased their target price on shares of Square to $41.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. Oppenheimer reissued a “buy” rating on shares of Square in a research report on Monday, November 20th. Evercore ISI raised shares of Square from an “in-line” rating to an “outperform” rating and set a $51.00 target price for the company in a research report on Friday, November 17th. Finally, Zacks Investment Research downgraded shares of Square from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $36.96.
Several institutional investors and hedge funds have recently modified their holdings of SQ. Tocqueville Asset Management L.P. lifted its stake in Square by 1.7% during the 4th quarter. Tocqueville Asset Management L.P. now owns 151,500 shares of the technology company’s stock valued at $5,253,000 after acquiring an additional 2,500 shares in the last quarter. MML Investors Services LLC lifted its stake in Square by 128.4% during the 4th quarter. MML Investors Services LLC now owns 29,136 shares of the technology company’s stock valued at $1,010,000 after acquiring an additional 16,380 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in Square during the 4th quarter valued at $1,427,000. Alliancebernstein L.P. lifted its stake in Square by 2.7% during the 4th quarter. Alliancebernstein L.P. now owns 139,622 shares of the technology company’s stock valued at $4,841,000 after acquiring an additional 3,680 shares in the last quarter. Finally, Delpha Capital Management LLC bought a new position in Square during the 4th quarter valued at $242,000. Institutional investors own 53.77% of the company’s stock.
In related news, insider Hillary B. Smith sold 1,551 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $35.12, for a total value of $54,471.12. Following the transaction, the insider now directly owns 487,482 shares in the company, valued at approximately $17,120,367.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $47.24, for a total value of $1,814,016.00. Following the completion of the transaction, the chief financial officer now owns 355,566 shares in the company, valued at $16,796,937.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,228,341 shares of company stock worth $47,941,857. 32.68% of the stock is owned by company insiders.
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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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