Investors Buy Square (SQ) on Weakness on Insider Selling

Traders bought shares of Square Inc (NYSE:SQ) on weakness during trading on Friday after an insider sold shares in the company. $205.18 million flowed into the stock on the tick-up and $187.49 million flowed out of the stock on the tick-down, for a money net flow of $17.69 million into the stock. Of all equities tracked, Square had the 26th highest net in-flow for the day. Square traded down ($0.64) for the day and closed at $38.09Specifically, insider Hillary B. Smith sold 3,459 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $38.95, for a total value of $134,728.05. Following the completion of the sale, the insider now owns 641,154 shares of the company’s stock, valued at $24,972,948.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ajmere Dale sold 20,286 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $39.12, for a total value of $793,588.32. Following the completion of the sale, the insider now directly owns 134,518 shares of the company’s stock, valued at approximately $5,262,344.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,529,827 shares of company stock worth $51,969,434. 32.68% of the stock is owned by company insiders.

Several brokerages have issued reports on SQ. Zacks Investment Research lowered Square from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. KeyCorp upped their target price on Square from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $31.00 target price on shares of Square in a research note on Sunday, October 8th. Barclays upped their target price on Square from $28.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, November 9th. Finally, Vetr lowered Square from a “strong-buy” rating to a “buy” rating and set a $43.40 target price for the company. in a research note on Monday, November 13th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $33.82.

The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48.

Square (NYSE:SQ) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $257.12 million during the quarter, compared to the consensus estimate of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 earnings per share. sell-side analysts anticipate that Square Inc will post -0.16 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Almanack Investment Partners LLC. bought a new position in shares of Square during the second quarter valued at approximately $117,000. Hudock Capital Group LLC bought a new position in Square in the third quarter worth $157,000. Riverhead Capital Management LLC bought a new position in Square in the second quarter worth $149,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Square by 19.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after purchasing an additional 1,099 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in Square in the third quarter worth $205,000. Institutional investors own 54.31% 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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