Stifel Financial Corp Grows Holdings in Square Inc (SQ)
Stifel Financial Corp boosted its holdings in Square Inc (NYSE:SQ) by 25.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,648 shares of the technology company’s stock after purchasing an additional 8,540 shares during the quarter. Stifel Financial Corp’s holdings in Square were worth $1,228,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in SQ. FMR LLC boosted its holdings in shares of Square by 114.7% during the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after acquiring an additional 12,764,491 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Square by 73.4% during the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after acquiring an additional 8,058,892 shares during the period. Capital World Investors boosted its holdings in shares of Square by 32.8% during the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after acquiring an additional 3,853,000 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Square by 5.8% during the second quarter. Renaissance Technologies LLC now owns 9,076,600 shares of the technology company’s stock valued at $212,937,000 after acquiring an additional 498,100 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Square by 23.0% during the second quarter. BlackRock Inc. now owns 6,618,987 shares of the technology company’s stock valued at $155,282,000 after acquiring an additional 1,235,662 shares during the period. 54.20% of the stock is owned by hedge funds and other institutional investors.
SQ has been the subject of several analyst reports. Goldman Sachs Group raised shares of Square to a “buy” rating in a report on Thursday, November 16th. Vetr raised shares of Square from a “buy” rating to a “strong-buy” rating and set a $39.78 price target for the company in a report on Wednesday, October 25th. Evercore ISI raised shares of Square from an “in-line” rating to an “outperform” rating and set a $51.00 price target for the company in a report on Friday, November 17th. Stephens reissued an “overweight” rating and set a $38.00 price target (up previously from $34.00) on shares of Square in a report on Thursday, November 9th. They noted that the move was a valuation call. Finally, Guggenheim upgraded shares of Square from a “neutral” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $34.45.
In other Square news, insider Ajmere Dale sold 20,286 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $39.12, for a total value of $793,588.32. Following the sale, the insider now directly owns 134,518 shares in the company, valued at $5,262,344.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $32.72, for a total transaction of $13,088,000.00. Following the completion of the sale, the director now owns 507,732 shares in the company, valued at $16,612,991.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,666,530 shares of company stock worth $61,937,547. 32.68% of the stock is owned by company insiders.
Shares of Square Inc (SQ) opened at $35.14 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 1.81. Square Inc has a 1 year low of $13.53 and a 1 year high of $49.56. The company has a market cap of $13,650.00 and a PE ratio of -206.71.
Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The firm had revenue of $257.12 million for the quarter, compared to analysts’ expectations of $244.95 million. During the same period in the previous year, the business earned $0.01 earnings per share. Square’s revenue for the quarter was up 44.6% compared to the same quarter last year. equities analysts anticipate that Square Inc will post -0.16 EPS for the current year.
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Square Company Profile
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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