Alps Advisors Inc. Acquires 2,254 Shares of Square, Inc. (SQ)

Alps Advisors Inc. raised its stake in Square, Inc. (NYSE:SQ) by 23.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,720 shares of the technology company’s stock after buying an additional 2,254 shares during the period. Alps Advisors Inc.’s holdings in Square were worth $577,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. raised its stake in Square by 18.4% during the 4th quarter. BlackRock Inc. now owns 13,005,859 shares of the technology company’s stock valued at $450,913,000 after purchasing an additional 2,024,019 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its stake in Square by 7.4% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,153,187 shares of the technology company’s stock valued at $143,990,000 after purchasing an additional 284,712 shares during the period. Jennison Associates LLC acquired a new stake in Square during the 4th quarter valued at $86,426,000. Geode Capital Management LLC raised its stake in Square by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 2,147,173 shares of the technology company’s stock valued at $74,398,000 after purchasing an additional 179,830 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in Square by 458.6% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,962,828 shares of the technology company’s stock valued at $68,051,000 after purchasing an additional 1,611,446 shares during the period. 53.98% of the stock is currently owned by institutional investors.

In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $55.13, for a total value of $22,052,000.00. Following the completion of the transaction, the director now owns 468,223 shares of the company’s stock, valued at $25,813,133.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sarah Friar sold 39,200 shares of the stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $50.07, for a total transaction of $1,962,744.00. Following the completion of the transaction, the chief financial officer now directly owns 346,649 shares of the company’s stock, valued at approximately $17,356,715.43. The disclosure for this sale can be found here. Insiders have sold 1,710,855 shares of company stock valued at $85,414,508 in the last ninety days. 32.68% of the stock is owned by company insiders.

Shares of Square opened at $54.82 on Friday, according to MarketBeat.com. The stock has a market cap of $22.68 billion, a PE ratio of -548.20 and a beta of 4.24. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.76. Square, Inc. has a 52 week low of $54.48 and a 52 week high of $55.85.

Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, May 2nd. The technology company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. The business had revenue of $307.00 million during the quarter, compared to analyst estimates of $293.07 million. Square had a negative net margin of 2.96% and a negative return on equity of 7.03%. The firm’s revenue for the quarter was up 50.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. equities analysts predict that Square, Inc. will post 0.01 EPS for the current year.

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of Square from $40.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, May 3rd. BTIG Research restated a “sell” rating and set a $30.00 price target on shares of Square in a report on Thursday, May 3rd. Stifel Nicolaus upgraded shares of Square from a “hold” rating to a “buy” rating and boosted their price target for the company from $46.00 to $55.00 in a report on Thursday, May 3rd. ValuEngine upgraded shares of Square from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Tuesday, May 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $45.78.

Square Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.

Institutional Ownership by Quarter for Square (NYSE:SQ)

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