Tredje AP fonden increased its stake in shares of Square, Inc. (NYSE:SQ) by 90.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,140 shares of the technology company’s stock after buying an additional 15,220 shares during the period. Tredje AP fonden’s holdings in Square were worth $1,581,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strs Ohio purchased a new stake in Square during the fourth quarter worth about $110,000. Envestnet Asset Management Inc. boosted its position in Square by 1,476.2% during the first quarter. Envestnet Asset Management Inc. now owns 2,317 shares of the technology company’s stock worth $114,000 after purchasing an additional 2,170 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Square during the fourth quarter worth about $131,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Square during the fourth quarter worth about $139,000. Finally, American International Group Inc. bought a new position in Square during the fourth quarter worth about $200,000. Institutional investors and hedge funds own 51.98% of the company’s stock.
A number of equities analysts have weighed in on the stock. Deutsche Bank increased their target price on shares of Square from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Stifel Nicolaus upgraded shares of Square from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $55.00 in a research report on Thursday, May 3rd. Susquehanna Bancshares increased their target price on shares of Square from $43.00 to $51.00 and gave the stock a “positive” rating in a research report on Monday, February 5th. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Monday, February 5th. Finally, Vetr upgraded shares of Square from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Monday, February 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the company. Square presently has a consensus rating of “Buy” and a consensus price target of $45.78.
In other Square news, insider Jacqueline D. Reses sold 15,000 shares of Square stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $45.18, for a total transaction of $677,700.00. Following the completion of the sale, the insider now directly owns 599,961 shares in the company, valued at $27,106,237.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ajmere Dale sold 5,272 shares of Square stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $49.07, for a total transaction of $258,697.04. Following the sale, the insider now owns 106,533 shares of the company’s stock, valued at $5,227,574.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,310,855 shares of company stock valued at $67,150,508. 27.99% of the stock is currently owned by company insiders.
Shares of Square opened at $56.54 on Tuesday, MarketBeat Ratings reports. Square, Inc. has a 1 year low of $19.98 and a 1 year high of $58.46. The company has a market cap of $22.05 billion, a price-to-earnings ratio of -565.40 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 (NYSE:SQ) last announced its earnings results on Wednesday, May 2nd. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. Square had a negative net margin of 2.96% and a negative return on equity of 7.03%. The business had revenue of $307.00 million during the quarter, compared to analyst estimates of $293.07 million. During the same period in the previous year, the business posted $0.05 earnings per share. Square’s revenue for the quarter was up 50.5% on a year-over-year basis. equities research analysts predict that Square, Inc. will post 0.01 earnings per share for the current fiscal year.
Square Company 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.
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