Oppenheimer & Co. Inc. Invests $906,000 in Square Inc (SQ)

Oppenheimer & Co. Inc. purchased a new stake in shares of Square Inc (NYSE:SQ) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 26,114 shares of the technology company’s stock, valued at approximately $906,000.

Several other institutional investors have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its holdings in Square by 1.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock worth $1,084,000 after purchasing an additional 513 shares during the last quarter. Northern Trust Corp lifted its holdings in Square by 97.7% in the 2nd quarter. Northern Trust Corp now owns 727,683 shares of the technology company’s stock worth $17,072,000 after purchasing an additional 359,641 shares during the last quarter. Ark Investment Management LLC lifted its holdings in Square by 18.2% in the 2nd quarter. Ark Investment Management LLC now owns 288,524 shares of the technology company’s stock worth $6,769,000 after purchasing an additional 44,524 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Square by 10.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 229,309 shares of the technology company’s stock worth $5,380,000 after purchasing an additional 22,100 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in Square by 28.1% in the 2nd quarter. Stifel Financial Corp now owns 34,108 shares of the technology company’s stock worth $801,000 after purchasing an additional 7,473 shares during the last quarter. Institutional investors and hedge funds own 53.31% of the company’s stock.

Several research firms recently weighed in on SQ. BTIG Research lowered Square from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $12.38 to $30.00 in a report on Monday, November 27th. Vetr upgraded Square from a “hold” rating to a “buy” rating and set a $51.38 target price for the company in a report on Thursday, November 23rd. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Tuesday, January 23rd. Oppenheimer restated a “buy” rating on shares of Square in a report on Monday, November 20th. Finally, Wells Fargo & Co began coverage on Square in a report on Tuesday, November 21st. They issued a “market perform” rating and a $42.00 target price for the company. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Square presently has an average rating of “Buy” and an average target price of $37.13.

Shares of Square Inc (NYSE:SQ) opened at $44.11 on Tuesday. The stock has a market capitalization of $17,140.00 and a P/E ratio of -259.47. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.48. Square Inc has a 1 year low of $13.99 and a 1 year high of $49.56.

In other news, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $47.24, for a total transaction of $1,814,016.00. Following the sale, the chief financial officer now directly owns 355,566 shares in the company, valued at $16,796,937.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $38.15, for a total value of $15,260,000.00. Following the sale, the director now owns 67,732 shares in the company, valued at $2,583,975.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,266,741 shares of company stock worth $49,532,769. 32.68% of the stock is currently owned by company insiders.

COPYRIGHT VIOLATION WARNING: “Oppenheimer & Co. Inc. Invests $906,000 in Square Inc (SQ)” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright & trademark law. The original version of this piece of content can be accessed at https://ledgergazette.com/2018/02/20/oppenheimer-co-inc-invests-906000-in-square-inc-sq.html.

About Square

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.

Want to see what other hedge funds are holding SQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Square Inc (NYSE:SQ).

Institutional Ownership by Quarter for Square (NYSE:SQ)

Receive News & Ratings for Square Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply