Emerald Advisers Inc. PA lessened its position in shares of Square, Inc. (NYSE:SQ) by 25.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,831 shares of the technology company’s stock after selling 1,670 shares during the quarter. Emerald Advisers Inc. PA’s holdings in Square were worth $478,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Checchi Capital Advisers LLC purchased a new stake in Square during the third quarter valued at $284,000. Boston Family Office LLC purchased a new stake in Square during the second quarter valued at $341,000. Cognios Capital LLC increased its position in Square by 18.2% during the second quarter. Cognios Capital LLC now owns 24,549 shares of the technology company’s stock valued at $1,513,000 after acquiring an additional 3,779 shares during the last quarter. Brighton Jones LLC increased its position in Square by 39.1% during the second quarter. Brighton Jones LLC now owns 11,572 shares of the technology company’s stock valued at $713,000 after acquiring an additional 3,251 shares during the last quarter. Finally, NumerixS Investment Technologies Inc increased its position in Square by 46.7% during the second quarter. NumerixS Investment Technologies Inc now owns 39,000 shares of the technology company’s stock valued at $2,400,000 after acquiring an additional 12,420 shares during the last quarter. Institutional investors own 51.63% of the company’s stock.
SQ has been the subject of a number of research reports. ValuEngine upgraded Square from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. Wolfe Research initiated coverage on Square in a research report on Tuesday, July 17th. They set a “market perform” rating for the company. Deutsche Bank upped their price objective on Square from $57.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. Stifel Nicolaus upped their price objective on Square from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Finally, Goldman Sachs Group upped their price objective on Square from $77.00 to $108.00 and gave the company a “buy” rating in a research report on Monday, October 8th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $72.64.
In other news, insider Alyssa Henry sold 75,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $72.42, for a total value of $5,431,500.00. Following the completion of the transaction, the insider now owns 519,544 shares of the company’s stock, valued at $37,625,376.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $71.26, for a total value of $28,504,000.00. Following the completion of the transaction, the director now directly owns 472,175 shares of the company’s stock, valued at approximately $33,647,190.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,595,740 shares of company stock valued at $207,911,396. Corporate insiders own 27.99% of the company’s stock.
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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