Insider Selling: Square Inc (SQ) Director Sells 400,000 Shares of Stock

Square Inc (NYSE:SQ) Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction on Monday, December 11th. The stock was sold at an average price of $38.15, for a total transaction of $15,260,000.00. Following the completion of the transaction, the director now directly owns 67,732 shares in the company, valued at $2,583,975.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

James Morgan Jr. Mckelvey also recently made the following trade(s):

  • On Monday, November 13th, James Morgan Jr. Mckelvey sold 400,000 shares of Square stock. The shares were sold at an average price of $39.15, for a total transaction of $15,660,000.00.
  • On Tuesday, October 17th, James Morgan Jr. Mckelvey sold 400,000 shares of Square stock. The shares were sold at an average price of $32.72, for a total transaction of $13,088,000.00.

Shares of Square Inc (SQ) traded down $0.22 during trading on Wednesday, hitting $38.08. 18,834,100 shares of the company’s stock were exchanged, compared to its average volume of 9,264,911. Square Inc has a 1-year low of $13.53 and a 1-year high of $49.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 1.81.

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

A number of equities research analysts have recently weighed in on the stock. BTIG Research lowered shares of Square from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $12.38 to $30.00 in a report on Monday, November 27th. Vetr raised shares of Square from a “hold” rating to a “buy” rating and set a $51.38 price objective on the stock in a report on Thursday, November 23rd. Oppenheimer reissued a “buy” rating on shares of Square in a report on Monday, November 20th. Wells Fargo & Company assumed coverage on shares of Square in a report on Tuesday, November 21st. They set a “market perform” rating and a $42.00 price objective on the stock. Finally, Credit Suisse Group reissued a “positive” rating and set a $37.00 price objective (up from $31.00) on shares of Square in a report on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $33.88.

Several institutional investors have recently modified their holdings of SQ. Almanack Investment Partners LLC. purchased a new stake in shares of Square during the second quarter worth about $117,000. Riverhead Capital Management LLC purchased a new stake in shares of Square during the second quarter worth about $149,000. Hudock Capital Group LLC purchased a new stake in shares of Square during the third quarter worth about $157,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Square by 19.4% during 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, Pacer Advisors Inc. increased its stake in shares of Square by 42.2% during the second quarter. Pacer Advisors Inc. now owns 8,368 shares of the technology company’s stock worth $196,000 after purchasing an additional 2,485 shares in the last quarter. Institutional investors and hedge funds 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.

Insider Buying and Selling by Quarter for Square (NYSE:SQ)

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