Square, Inc. (SQ) Short Interest Update

Square, Inc. (NYSE:SQ) saw a large increase in short interest in September. As of September 29th, there was short interest totalling 28,380,725 shares, an increase of 21.0% from the September 15th total of 23,463,585 shares. Currently, 11.9% of the company’s stock are short sold. Based on an average daily volume of 6,016,005 shares, the short-interest ratio is presently 4.7 days.

In other news, CFO Sarah Friar sold 19,200 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $25.54, for a total transaction of $490,368.00. Following the sale, the chief financial officer now owns 366,103 shares in the company, valued at approximately $9,350,270.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $27.22, for a total value of $10,888,000.00. Following the sale, the director now owns 507,385 shares in the company, valued at approximately $13,811,019.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 953,600 shares of company stock worth $25,263,040. Company insiders own 32.68% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its position in shares of Square by 114.7% in the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after purchasing an additional 12,764,491 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Square by 73.4% in the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after purchasing an additional 8,058,892 shares in the last quarter. Capital World Investors grew its position in shares of Square by 32.8% in the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after purchasing an additional 3,853,000 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Square by 5.8% in the second quarter. Renaissance Technologies LLC now owns 9,076,600 shares of the technology company’s stock valued at $212,937,000 after purchasing an additional 498,100 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Square by 23.0% in the second quarter. BlackRock Inc. now owns 6,618,987 shares of the technology company’s stock valued at $155,282,000 after purchasing an additional 1,235,662 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

A number of equities research analysts have recently issued reports on SQ shares. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, October 3rd. KeyCorp reiterated an “overweight” rating on shares of Square in a research note on Tuesday, July 18th. Barclays PLC reiterated an “overweight” rating and set a $28.00 price objective (up previously from $21.00) on shares of Square in a research note on Wednesday, August 9th. Canaccord Genuity reiterated a “hold” rating and set a $26.00 price objective (up previously from $18.00) on shares of Square in a research note on Wednesday, August 9th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $26.00 price objective (up previously from $25.00) on shares of Square in a research note on Wednesday, August 9th. Eleven analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $26.32.

Shares of Square (SQ) opened at 32.69 on Wednesday. The stock’s 50 day moving average price is $28.42 and its 200 day moving average price is $23.89. Square has a 12-month low of $10.88 and a 12-month high of $33.31. The firm’s market capitalization is $12.54 billion.

Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $228.64 million. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The firm’s quarterly revenue was up 40.4% compared to the same quarter last year. During the same period in the previous year, the business

In other news, CFO Sarah Friar sold 19,200 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $25.54, for a total transaction of $490,368.00. Following the sale, the chief financial officer now owns 366,103 shares in the company, valued at approximately $9,350,270.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $27.22, for a total value of $10,888,000.00. Following the sale, the director now owns 507,385 shares in the company, valued at approximately $13,811,019.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 953,600 shares of company stock worth $25,263,040. Company insiders own 32.68% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its position in shares of Square by 114.7% in the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after purchasing an additional 12,764,491 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Square by 73.4% in the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after purchasing an additional 8,058,892 shares in the last quarter. Capital World Investors grew its position in shares of Square by 32.8% in the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after purchasing an additional 3,853,000 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Square by 5.8% in the second quarter. Renaissance Technologies LLC now owns 9,076,600 shares of the technology company’s stock valued at $212,937,000 after purchasing an additional 498,100 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Square by 23.0% in the second quarter. BlackRock Inc. now owns 6,618,987 shares of the technology company’s stock valued at $155,282,000 after purchasing an additional 1,235,662 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

A number of equities research analysts have recently issued reports on SQ shares. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, October 3rd. KeyCorp reiterated an “overweight” rating on shares of Square in a research note on Tuesday, July 18th. Barclays PLC reiterated an “overweight” rating and set a $28.00 price objective (up previously from $21.00) on shares of Square in a research note on Wednesday, August 9th. Canaccord Genuity reiterated a “hold” rating and set a $26.00 price objective (up previously from $18.00) on shares of Square in a research note on Wednesday, August 9th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $26.00 price objective (up previously from $25.00) on shares of Square in a research note on Wednesday, August 9th. Eleven analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $26.32.

Shares of Square (SQ) opened at 32.69 on Wednesday. The stock’s 50 day moving average price is $28.42 and its 200 day moving average price is $23.89. Square has a 12-month low of $10.88 and a 12-month high of $33.31. The firm’s market capitalization is $12.54 billion.

Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $228.64 million. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The firm’s quarterly revenue was up 40.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) earnings per share. Equities research analysts expect that Square will post $0.24 earnings per share for the current year.

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About Square

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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