Trustcore Financial Services LLC Purchases 500 Shares of Square, Inc. (NYSE:SQ)

Trustcore Financial Services LLC boosted its position in Square, Inc. (NYSE:SQ) by 14.6% in the 2nd quarter, Holdings Channel reports. The firm owned 3,917 shares of the technology company’s stock after buying an additional 500 shares during the quarter. Trustcore Financial Services LLC’s holdings in Square were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SQ. Lenox Wealth Management Inc. purchased a new position in shares of Square during the first quarter worth approximately $25,000. Legacy Advisors LLC purchased a new position in shares of Square during the first quarter worth approximately $27,000. FTB Advisors Inc. purchased a new position in shares of Square during the first quarter worth approximately $27,000. Cullen Frost Bankers Inc. purchased a new position in shares of Square during the first quarter worth approximately $28,000. Finally, Larson Financial Group LLC increased its position in shares of Square by 130.7% during the second quarter. Larson Financial Group LLC now owns 376 shares of the technology company’s stock worth $27,000 after acquiring an additional 213 shares during the period. 52.64% of the stock is owned by institutional investors and hedge funds.

In other news, insider Alyssa Henry sold 20,000 shares of Square stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $64.20, for a total transaction of $1,284,000.00. Following the completion of the sale, the insider now directly owns 459,793 shares in the company, valued at $29,518,710.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ajmere Dale sold 2,296 shares of Square stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $60.86, for a total transaction of $139,734.56. Following the sale, the insider now owns 79,725 shares of the company’s stock, valued at $4,852,063.50. The disclosure for this sale can be found here. Insiders have sold 77,249 shares of company stock valued at $5,553,625 over the last quarter. Insiders own 21.79% of the company’s stock.

SQ traded down $1.62 during trading on Tuesday, hitting $63.23. The stock had a trading volume of 6,855,762 shares, compared to its average volume of 9,679,424. The stock has a market cap of $29.44 billion, a P/E ratio of 3,161.50, a PEG ratio of 18.66 and a beta of 3.31. Square, Inc. has a twelve month low of $49.82 and a twelve month high of $101.15. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.87. The business’s 50 day simple moving average is $76.12.

Square (NYSE:SQ) last announced its earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.20. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. The company had revenue of $563.00 million during the quarter, compared to the consensus estimate of $557.67 million. During the same period last year, the firm earned $0.13 earnings per share. Square’s revenue was up 46.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Square, Inc. will post 0.15 EPS for the current fiscal year.

SQ has been the topic of several research reports. BTIG Research reissued a “sell” rating and set a $30.00 price objective on shares of Square in a report on Sunday. SunTrust Banks lifted their price objective on shares of Square to $75.00 and gave the company a “hold” rating in a report on Friday. ValuEngine lowered shares of Square from a “buy” rating to a “hold” rating in a report on Tuesday. Evercore ISI lowered shares of Square from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $101.00 to $64.00 in a report on Thursday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective (down from $95.00) on shares of Square in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nineteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $84.80.

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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