Koshinski Asset Management Inc. lifted its position in Square, Inc. (NYSE:SQ) by 17.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,413 shares of the technology company’s stock after acquiring an additional 813 shares during the period. Koshinski Asset Management Inc.’s holdings in Square were worth $568,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Hoylecohen LLC lifted its position in shares of Square by 17.4% in the 2nd quarter. Hoylecohen LLC now owns 7,920 shares of the technology company’s stock valued at $831,000 after acquiring an additional 1,175 shares in the last quarter. Malaga Cove Capital LLC raised its stake in Square by 50.2% during the 2nd quarter. Malaga Cove Capital LLC now owns 11,996 shares of the technology company’s stock valued at $1,259,000 after purchasing an additional 4,008 shares during the period. SlateStone Wealth LLC purchased a new stake in shares of Square in the second quarter valued at $2,559,000. GWM Advisors LLC boosted its position in shares of Square by 67.9% in the second quarter. GWM Advisors LLC now owns 10,050 shares of the technology company’s stock worth $1,055,000 after buying an additional 4,065 shares during the period. Finally, Cornerstone Advisors Inc. grew its holdings in shares of Square by 20.6% during the second quarter. Cornerstone Advisors Inc. now owns 1,863 shares of the technology company’s stock valued at $196,000 after buying an additional 318 shares in the last quarter. Institutional investors and hedge funds own 62.65% of the company’s stock.
In other Square news, insider Sivan Whiteley sold 3,983 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $81.64, for a total value of $325,172.12. Following the completion of the sale, the insider now owns 151,533 shares in the company, valued at approximately $12,371,154.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ajmere Dale sold 6,106 shares of Square stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $90.78, for a total value of $554,302.68. Following the sale, the chief accounting officer now directly owns 57,021 shares in the company, valued at approximately $5,176,366.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,357 shares of company stock worth $2,827,782. Insiders own 21.79% of the company’s stock.
Square (NYSE:SQ) last announced its earnings results on Wednesday, May 6th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.15). The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.30 billion. Square had a return on equity of 0.44% and a net margin of 5.99%. The company’s revenue was up 44.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) EPS. As a group, equities analysts predict that Square, Inc. will post -0.53 EPS for the current fiscal year.
A number of brokerages have commented on SQ. UBS Group lowered Square from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $54.00 to $63.00 in a research report on Thursday, May 21st. CSFB raised their price target on shares of Square from $73.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Zacks Investment Research downgraded shares of Square from a “hold” rating to a “strong sell” rating and set a $132.00 target price for the company. in a research report on Wednesday, July 8th. Needham & Company LLC upped their price target on shares of Square from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Goldman Sachs Group initiated coverage on Square in a research report on Tuesday, July 14th. They set a “neutral” rating and a $133.00 price objective for the company. Six investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $83.37.
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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