Sigma Planning Corp grew its stake in shares of Square, Inc. (NYSE:SQ) by 80.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,220 shares of the technology company’s stock after acquiring an additional 21,076 shares during the quarter. Sigma Planning Corp’s holdings in Square were worth $10,277,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of SQ. MAI Capital Management purchased a new position in Square in the third quarter worth about $327,000. Perennial Investment Advisors LLC boosted its position in Square by 3.6% in the third quarter. Perennial Investment Advisors LLC now owns 7,394 shares of the technology company’s stock worth $1,199,000 after purchasing an additional 257 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new position in Square in the third quarter worth about $41,000. Steel Peak Wealth Management LLC boosted its position in Square by 21.8% in the third quarter. Steel Peak Wealth Management LLC now owns 28,625 shares of the technology company’s stock worth $4,653,000 after purchasing an additional 5,132 shares during the last quarter. Finally, Capital Wealth Alliance LLC purchased a new position in Square in the third quarter worth about $222,000. Hedge funds and other institutional investors own 64.01% of the company’s stock.
In other news, CEO Jack Dorsey sold 100,000 shares of Square stock in a transaction on Monday, November 30th. The stock was sold at an average price of $209.14, for a total value of $20,914,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amrita Ahuja sold 14,073 shares of Square stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $264.55, for a total value of $3,723,012.15. Following the completion of the sale, the chief financial officer now directly owns 161,077 shares of the company’s stock, valued at $42,612,920.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,271,683 shares of company stock valued at $284,646,176. 21.79% of the stock is owned by insiders.
A number of research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on Square from $300.00 to $304.00 and gave the company an “average” rating in a research report on Thursday, January 14th. Needham & Company LLC boosted their price target on Square from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, December 1st. Robert W. Baird assumed coverage on Square in a report on Tuesday, December 22nd. They issued a “neutral” rating and a $245.00 price target on the stock. Truist boosted their price target on Square from $250.00 to $300.00 in a report on Wednesday, January 6th. Finally, Bank of America reaffirmed a “sell” rating and issued a $120.00 price objective on shares of Square in a research note on Friday, November 6th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $184.70.
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.
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