Square Inc (SQ) Shares Sold by Timpani Capital Management LLC

Timpani Capital Management LLC reduced its stake in shares of Square Inc (NYSE:SQ) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 110,363 shares of the technology company’s stock after selling 1,147 shares during the quarter. Timpani Capital Management LLC’s holdings in Square were worth $2,589,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SQ. Pacer Advisors Inc. increased its position in Square by 22.7% during the 1st quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after purchasing an additional 1,090 shares during the period. Glassman Wealth Services increased its position in Square by 1,987.3% during the 1st quarter. Glassman Wealth Services now owns 6,575 shares of the technology company’s stock valued at $114,000 after purchasing an additional 6,260 shares during the period. Concert Wealth Management Inc. purchased a new position in Square during the 1st quarter valued at $144,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Square by 19.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,099 shares during the period. Finally, FNY Partners Fund LP increased its position in Square by 55.4% during the 1st quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock valued at $174,000 after purchasing an additional 3,600 shares during the period. 82.02% of the stock is currently owned by institutional investors and hedge funds.

In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $25.02, for a total value of $10,008,000.00. Following the completion of the sale, the director now owns 507,385 shares of the company’s stock, valued at $12,694,772.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Sarah Friar sold 19,200 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $26.25, for a total value of $504,000.00. Following the completion of the sale, the chief financial officer now directly owns 368,791 shares of the company’s stock, valued at approximately $9,680,763.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 553,600 shares of company stock worth $13,928,064. 32.68% of the stock is owned by corporate insiders.

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Shares of Square Inc (NYSE SQ) traded up 0.87% during trading on Friday, reaching $26.53. 5,933,441 shares of the company were exchanged. The firm’s market capitalization is $10.18 billion. The firm’s 50 day moving average is $25.70 and its 200 day moving average is $21.56. Square Inc has a 1-year low of $10.88 and a 1-year high of $27.97.

Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Square had a negative return on equity of 9.62% and a negative net margin of 2.89%. The company had revenue of $240 million for the quarter, compared to the consensus estimate of $228.64 million. During the same quarter last year, the company earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 40.4% compared to the same quarter last year. On average, equities analysts anticipate that Square Inc will post $0.24 EPS for the current fiscal year.

A number of brokerages have issued reports on SQ. BTIG Research reissued a “neutral” rating on shares of Square in a research report on Thursday. Wedbush reissued a “neutral” rating and set a $28.00 price objective on shares of Square in a research report on Wednesday, August 9th. Credit Suisse Group reissued a “neutral” rating and set a $26.00 price objective (up from $25.00) on shares of Square in a research report on Wednesday, August 9th. Deutsche Bank AG reissued a “buy” rating and set a $28.00 price objective on shares of Square in a research report on Wednesday, August 9th. Finally, Canaccord Genuity reissued a “hold” rating and set a $26.00 price objective (up from $18.00) on shares of Square in a research report on Wednesday, August 9th. Eleven investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Square has a consensus rating of “Buy” and an average price target of $24.61.

Square 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.

Institutional Ownership by Quarter for Square (NYSE:SQ)

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