Company shares last traded at $32.53 significantly higher than $29.54, the 50 day moving average and which is well above the 200 day moving average of $24.56. The 50 day moving average was up by +10.11% whereas the 200 day moving average was up $7.97 or +32.42%. (NYSE:SQ) shares saw heavy trading volume with 5,926K shares changing hands in the last trading session. Trading volume was up 70.77% over the stocks average daily volume.
Investors are more bearish recently if you watch the uptick in short interest. The stock had a rise in short interest of 20.96% between September 15, 2017 and September 29, 2017. Short shares increased 4,917,140 over that period. Days to cover increased 2.0 to 5.0 and the percentage of shorted shares was 0.08% on September 29.
Here is a rundown on some insider market activity for Square, Inc. Class A (NYSE:SQ). James Morgan Jr. Mckelvey, Director sold $13,176,000 worth of shares at an average price of $32.94 on October 17th. The Director now owns $3,548,692 of the stock as recorded in a recent Form 4 SEC filing. CFO Sarah Friar sold 38,400 shares at a price of $32.81 on Fri the 13th. That brings the CFO’s holdings to $0 per an SEC filing yesterday.
A few notable investment firms have updated their holdings. As of the end of the quarter Cullinan Associates Inc had disposed of a total of 1,500 shares trimming its holdings by 1.2%. The value of the company’s investment in Square, Inc. Class A went from $3,045,000 to $3,696,000 a change of 21.4% quarter over quarter. State Treasurer State Of Michigan added to its stake by buying 750,000 shares an increase of 47.2% as of 09/30/2017. State Treasurer State Of Michigan now controls 2,340,000 shares valued at $67,415,000. The value of the position overall is up by 80.7%.
Cutter & CO Brokerage, Inc. divested its holdings by selling 500 shares a decrease of 2.1% in the quarter. Cutter & CO Brokerage, Inc. currently owns 23,500 shares with a value of $677,000. The total value of its holdings increased 20.2%. As of quarter end Robeco Institutional Asset Management B.v. had sold 50,000 shares trimming its position 3.4%. The value of the investment in (SQ) increased from $34,017,000 to $40,335,000 increasing 18.6% quarter to quarter.
August 3 investment analysts at Barclays held the company rating at “Neutral” but raised the price expectation from $15.00 to $28.00. Equity analyst Cantor Fitzgerald starting coverage on the stock setting a rating of “Overweight”.
Oppenheimer issued its first research report on the stock giving it an initial rating of “Outperform”. On October 13 Bank of America left the company rating at “Neutral” and raised the price target to $33.00 from $31.00.
In the last earnings report the EPS was $-0.22 and is expected to be $0.24 for the current year with 383,698,000 shares now outstanding. Next quarter’s EPS is expected be $0.06 with next year’s EPS projected to be $0.43.
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..