Square, Inc. (SQ) Shares Bought by Accuvest Global Advisors

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Accuvest Global Advisors boosted its position in Square, Inc. (NYSE:SQ) by 43.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,651 shares of the technology company’s stock after buying an additional 3,544 shares during the quarter. Accuvest Global Advisors’ holdings in Square were worth $1,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund increased its position in Square by 1.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 75,472 shares of the technology company’s stock worth $7,472,000 after buying an additional 754 shares during the last quarter. Lincoln National Corp grew its position in shares of Square by 13.7% in the second quarter. Lincoln National Corp now owns 6,327 shares of the technology company’s stock valued at $390,000 after purchasing an additional 764 shares in the last quarter. Alpha Cubed Investments LLC grew its position in shares of Square by 23.1% in the third quarter. Alpha Cubed Investments LLC now owns 4,208 shares of the technology company’s stock valued at $312,000 after purchasing an additional 791 shares in the last quarter. IFP Advisors Inc grew its position in shares of Square by 5.7% in the third quarter. IFP Advisors Inc now owns 15,264 shares of the technology company’s stock valued at $1,511,000 after purchasing an additional 818 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its position in shares of Square by 19.2% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 5,341 shares of the technology company’s stock valued at $329,000 after purchasing an additional 861 shares in the last quarter. 51.63% of the stock is owned by institutional investors and hedge funds.

NYSE:SQ opened at $73.45 on Thursday. The firm has a market cap of $28.22 billion, a P/E ratio of -734.50 and a beta of 4.34. Square, Inc. has a 52-week low of $34.14 and a 52-week high of $101.15. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.18 and a quick ratio of 2.18.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.14. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. The firm had revenue of $385.00 million during the quarter, compared to analyst estimates of $367.99 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue was up 60.4% compared to the same quarter last year. Equities research analysts anticipate that Square, Inc. will post -0.04 EPS for the current year.

In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $71.26, for a total transaction of $28,504,000.00. Following the completion of the sale, the director now owns 472,175 shares of the company’s stock, valued at $33,647,190.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ajmere Dale sold 4,096 shares of Square stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $89.99, for a total value of $368,599.04. Following the sale, the insider now directly owns 93,255 shares of the company’s stock, valued at approximately $8,392,017.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,492,705 shares of company stock valued at $200,515,543. Corporate insiders own 27.99% of the company’s stock.

SQ has been the subject of several recent research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price target (up from $76.00) on shares of Square in a research report on Wednesday, September 19th. Guggenheim reiterated a “buy” rating and issued a $73.00 price target on shares of Square in a research report on Friday, July 13th. BTIG Research initiated coverage on Square in a research report on Thursday, October 11th. They issued a “sell” rating for the company. Oppenheimer cut Square from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 10th. Finally, Buckingham Research lifted their price target on Square from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $72.64.

About Square

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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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