Trading was heavy with 28,905K shares changing hands by the end of trading on Tuesday. Overall, volume was up 81.38% over the stocks normal daily volume.
Investors are a little more bearish lately if you watch the uptick in short interest. The company realized a rise in short interest from September 29, 2017 to October 13, 2017 of 16.17%. Short interest grew 4,589,111 over that timeframe. The short-interest ratio decreased to 5.0 and the short interest percentage is 0.12% as of October 13.
Here is a rundown on some insider market activity for Square (NYSE:SQ). Director James Morgan Jr. Mckelvey disclosed the sale of 400,000 shares. The shares were sold on October 17th for an average price of $32.94. Mckelvey now owns $3,548,692 of the stock per the Form 4 SEC filing. Sarah Friar, CFO sold $1,259,904 worth of shares at a price of $32.81 on October 13th. That brings the CFO’s holdings to $0 as recorded in a recent Form 4 SEC filing.
The following firms have recently changed their position in SQ. As of quarter end Waddell & Reed Financial Inc had sold 1,223,800 shares trimming its position 53.2%. The value of the total investment in Square went from $53,926,000 to $30,966,000 a change of 42.6% since the last quarter. Hitchwood Capital Management LP reduced its ownership by selling 427,700 shares a decrease of 16.5%. Hitchwood Capital Management LP now controls 2,172,300 shares valued at $62,584,000. The total value of its holdings increased 2.6%.
State Street Corp bolstered its holdings by buying 450,312 shares an increase of 16.7% as of 09/30/2017. State Street Corp owns 3,151,477 shares with a value of $90,795,000. The value of the position overall is up by 43.3%. Public Employees Retirement System Of Ohio divested its position by selling 54,967 shares a decrease of 23.4% in the quarter. Public Employees Retirement System Of Ohio claims 179,801 shares worth $5,180,000. The total value of its holdings decreased 6.0%.
Oppenheimer Holdings raised the price target on November 10 changing the forecast from $35.00 to $41.00 with a “Outperform” recommendation. Equity analyst Royal Bank Of Canada raised the price target on November 9 boosting the projection from $31.00 to $41.00 and issued a “Outperform” recommendation.
SunTrust Banks raised the price target of the stock on November 9 changing the price objective from $0.00 to $35.00 with a rating of “Hold”.
Equity analyst Cantor Fitzgerald raised the price target on November 9 boosting the projection from $0.00 to $41.00 and issued a “Overweight” rating. November 9 investment analysts at Stifel Nicolaus made no change to the stock rating of “Hold” targeting a price of $37.00.
In the market the company is trading down since yesterday’s close of 48.09. The company currently has a P/E ratio of N/A and the market value is 18.68B. In the latest earnings report the EPS was $-0.17 with 268.85M shares currently outstanding.
Square, Inc. (Square), launched on June 17, 2009, is a commerce ecosystem. The Company enables its sellers start, run, and grow their businesses. The Company 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. With its offering, a seller can accept payments in person via magnetic stripe (a swipe), Europay, MasterCard, and Visa (EMV) (a dip), or Near Field Communication (NFC) (a tap); or online via Square Invoices, Square Virtual Terminal, or the seller’s Website. Once on its system, sellers gain access to technology and features, such as reporting and analytics, next-day settlements, digital receipts, payment dispute management and chargeback protection, and Payment Card Industry (PCI) compliance. On the consumer (buyer) side, Square Cash offers individuals access to a way to send and receive money electronically to and from individuals and businesses. The Company focuses on technology and design to create products and services..Advertisement