On Jan. 4, Square (NYSE:SQ) chief executive officer Jack Dorsey converted 100,000 Class B shares into Class A shares and then sold the Square inventory at an average cost of $219.53.

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The stock sale is an element of planned sales by the billionaire co founder. He began the weekly sales of 100,000 shares on Nov. 16. Since then, he’s sold 700,000 shares by using the newest divestiture of his on Jan. 4.

To estimate the entire sales, he likely generated $160 million in pre tax proceeds. Heck, even billionaires have bills to pay.

If you’re considering selling based on these planned sales, do not. Square’s got plenty of room to work in 2021.

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Square Stock Hits $300 Square stock is already trading at at least $240. Since Jan. 1, the stock is up more than 10 %.

And that’s in addition to the 245 % gains it attained in 2020, something I had a suspicion would happen. Here’s what I wrote on Jan. three, 2020:

Since Q3 2017, Square’s GPV [gross transaction volume] from sellers with an annual GPV of over $500,000 grew 700 basis points to twenty seven %. Meanwhile, those sellers with a yearly GPV of less than $125,000 fallen 700 basis points to 45 %. At the same time, sellers with between $125,000 and $500,000 in GPV increased by 100 basis points to twenty eight %. Why is it important? It shows that the company’s revenue has become much more diversified; it today gains from payment processing across organizations of all the sizes.

How is it doing a year later on this front?

In the third quarter of 2020, sellers with yearly GPV greater than $500,000 accounted for 30.6 % of the $28.8 billion in seller GPV. That’s up 270 basis points from the preceding year. Sellers with annual GPV between $125,000 and $500,000 were $8.7 billion in Q3 2020, or maybe 10.1 % higher than in the third quarter a year earlier. These 2 groups accounted for 61 % of seller GPV in Q3 2020, 500 basis points higher compared to the preceding 12 months.

Without a doubt, sellers with annual GPV below $125,000 still accounted for 39 % of general seller GPV, however, it shows bigger companies’ acceptance rate, that is crucial to its ongoing development.

To get to $300 sooner in 2021, two things have to keep growing: Cash App, its finance app, and therefore Square Capital, its lending platform.