GWM Advisors LLC Buys 4,065 Shares of Square, Inc. (NYSE:SQ)

GWM Advisors LLC grew its stake in Square, Inc. (NYSE:SQ) by 67.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,050 shares of the technology company’s stock after purchasing an additional 4,065 shares during the quarter. GWM Advisors LLC’s holdings in Square were worth $1,055,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SQ. Balentine LLC purchased a new stake in shares of Square in the 1st quarter worth $25,000. Shine Investment Advisory Services Inc. grew its holdings in Square by 316.7% in the first quarter. Shine Investment Advisory Services Inc. now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 380 shares during the period. Atticus Wealth Management LLC grew its holdings in Square by 114.5% in the first quarter. Atticus Wealth Management LLC now owns 562 shares of the technology company’s stock valued at $29,000 after purchasing an additional 300 shares during the period. FinTrust Capital Advisors LLC grew its holdings in Square by 484.4% in the first quarter. FinTrust Capital Advisors LLC now owns 561 shares of the technology company’s stock valued at $29,000 after purchasing an additional 465 shares during the period. Finally, Certified Advisory Corp grew its holdings in Square by 52.4% in the first quarter. Certified Advisory Corp now owns 582 shares of the technology company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Institutional investors own 62.65% of the company’s stock.

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Square from $60.00 to $68.00 and gave the company a “market perform” rating in a research report on Friday, May 8th. BTIG Research reaffirmed a “hold” rating on shares of Square in a research report on Wednesday, May 6th. Argus lifted their price target on shares of Square from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Credit Suisse Group lifted their price target on shares of Square from $73.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Finally, Piper Sandler assumed coverage on shares of Square in a research report on Monday, July 6th. They set a “neutral” rating and a $131.00 price target on the stock. Six investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $83.37.

SQ stock opened at $129.85 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.19 and a quick ratio of 2.19. Square, Inc. has a 1-year low of $32.33 and a 1-year high of $133.81. The firm has a fifty day moving average price of $112.87 and a two-hundred day moving average price of $80.52. The firm has a market cap of $57.05 billion, a price-to-earnings ratio of 206.11 and a beta of 2.69.

Square (NYSE:SQ) last released its earnings results on Wednesday, May 6th. The technology company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.15). Square had a net margin of 5.99% and a return on equity of 0.44%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the firm earned ($0.06) EPS. The firm’s revenue for the quarter was up 44.0% on a year-over-year basis. As a group, analysts expect that Square, Inc. will post -0.53 EPS for the current fiscal year.

In other news, insider Sivan Whiteley sold 2,013 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $107.00, for a total transaction of $215,391.00. Following the completion of the transaction, the insider now owns 140,989 shares in the company, valued at $15,085,823. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ajmere Dale sold 6,106 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $90.78, for a total transaction of $554,302.68. Following the transaction, the chief accounting officer now owns 57,021 shares of the company’s stock, valued at approximately $5,176,366.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,357 shares of company stock valued at $2,827,782. 21.79% of the stock is owned by insiders.

About Square

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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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