Square, Inc. (NYSE:SQ) Stake Reduced by Harwood Advisory Group LLC

Harwood Advisory Group LLC cut its holdings in Square, Inc. (NYSE:SQ) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,452 shares of the technology company’s stock after selling 2,178 shares during the quarter. Harwood Advisory Group LLC’s holdings in Square were worth $2,064,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SQ. Lenox Wealth Management Inc. purchased a new position in Square in the 1st quarter worth about $25,000. Enterprise Trust & Investment Co purchased a new position in Square during the 2nd quarter valued at about $25,000. FTB Advisors Inc. purchased a new position in Square during the 1st quarter valued at about $27,000. Cullen Frost Bankers Inc. purchased a new position in Square during the 1st quarter valued at about $28,000. Finally, Larson Financial Group LLC grew its stake in Square by 130.7% during the 2nd quarter. Larson Financial Group LLC now owns 376 shares of the technology company’s stock valued at $27,000 after acquiring an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 52.21% of the company’s stock.

In other news, insider Alyssa Henry sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $61.86, for a total transaction of $1,237,200.00. Following the completion of the transaction, the insider now directly owns 442,168 shares in the company, valued at $27,352,512.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ajmere Dale sold 2,296 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $60.86, for a total value of $139,734.56. Following the transaction, 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. Over the last quarter, insiders have sold 77,249 shares of company stock valued at $5,506,825. Corporate insiders own 21.79% of the company’s stock.

Several research firms have weighed in on SQ. Evercore ISI cut Square from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $101.00 to $64.00 in a research note on Thursday, August 1st. Citigroup set a $95.00 target price on Square and gave the company a “buy” rating in a research note on Friday, July 19th. Jefferies Financial Group set a $78.00 price target on Square and gave the company a “hold” rating in a research note on Friday, August 2nd. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Tuesday, May 7th. Finally, ValuEngine cut Square from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $83.91.

SQ traded down $2.90 on Friday, hitting $61.78. The company had a trading volume of 8,689,912 shares, compared to its average volume of 10,708,128. The company’s fifty day moving average price is $72.96 and its 200 day moving average price is $72.24. Square, Inc. has a 1-year low of $49.82 and a 1-year high of $101.15. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market cap of $27.63 billion, a price-to-earnings ratio of 3,089.00, a price-to-earnings-growth ratio of 21.98 and a beta of 3.31.

Square (NYSE:SQ) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.20. Square had a positive return on equity of 2.65% and a negative net margin of 1.35%. The company had revenue of $563.00 million during the quarter, compared to analyst estimates of $557.67 million. During the same period in the previous year, the company earned $0.13 earnings per share. The company’s quarterly revenue was up 46.2% compared to the same quarter last year. On average, sell-side analysts forecast that Square, Inc. will post 0.12 EPS for the current year.

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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