CENTRAL TRUST Co trimmed its stake in shares of Square, Inc. (NYSE:SQ – Get Rating) by 46.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,321 shares of the technology company’s stock after selling 5,555 shares during the period. CENTRAL TRUST Co’s holdings in Square were worth $1,021,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ibex Wealth Advisors acquired a new position in Square in the third quarter valued at approximately $25,000. Bell Investment Advisors Inc acquired a new position in Square in the third quarter valued at approximately $30,000. Consolidated Planning Corp acquired a new position in Square in the third quarter valued at approximately $36,000. Tobam acquired a new position in Square in the third quarter valued at approximately $40,000. Finally, Liberty Wealth Management LLC lifted its holdings in Square by 2,100.0% in the third quarter. Liberty Wealth Management LLC now owns 220 shares of the technology company’s stock valued at $52,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 66.31% of the company’s stock.
Several equities research analysts have commented on the stock. Cowen lowered their target price on shares of Square from $238.00 to $188.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. KeyCorp upped their target price on shares of Square from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, April 4th. Truist Financial lowered their target price on shares of Square from $250.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 25th. Royal Bank of Canada lowered their target price on shares of Square from $203.00 to $147.00 and set an “outperform” rating for the company in a research note on Tuesday, February 22nd. Finally, BMO Capital Markets raised shares of Square from a “market perform” rating to an “outperform” rating in a research report on Monday, February 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Square presently has a consensus rating of “Buy” and an average price target of $207.54.
Shares of Square stock traded down $5.10 during midday trading on Friday, hitting $99.54. 13,448,815 shares of the company traded hands, compared to its average volume of 13,265,019. The stock has a market cap of $57.74 billion, a price-to-earnings ratio of 321.10 and a beta of 2.31. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.94 and a current ratio of 1.94. The firm’s fifty day moving average price is $119.35 and its 200-day moving average price is $157.79. Square, Inc. has a 12 month low of $82.72 and a 12 month high of $289.23.
Square (NYSE:SQ – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. Square had a net margin of 0.94% and a return on equity of 10.08%. The firm’s revenue was up 34.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. Equities research analysts forecast that Square, Inc. will post -0.17 earnings per share for the current year.
Square Profile (Get Rating)
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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