Columbia Asset Management bought a new position in shares of Square, Inc. (NYSE:SQ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,149 shares of the technology company’s stock, valued at approximately $114,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in shares of Square by 17.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 103,520 shares of the technology company’s stock valued at $5,093,000 after acquiring an additional 15,165 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Square by 55.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 34,760 shares of the technology company’s stock valued at $2,142,000 after buying an additional 12,340 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in Square by 7.5% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 45,659 shares of the technology company’s stock valued at $2,814,000 after buying an additional 3,200 shares during the last quarter. Atria Investments LLC bought a new stake in Square in the 2nd quarter valued at $212,000. Finally, Bank of Montreal Can boosted its holdings in Square by 3.0% in the 2nd quarter. Bank of Montreal Can now owns 156,125 shares of the technology company’s stock valued at $9,624,000 after purchasing an additional 4,553 shares during the period. 48.16% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Ajmere Dale sold 2,048 shares of Square stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $71.76, for a total transaction of $146,964.48. Following the completion of the sale, the insider now owns 88,621 shares in the company, valued at approximately $6,359,442.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jack Dorsey sold 103,035 shares of Square stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $90.40, for a total transaction of $9,314,364.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,482,286 shares of company stock valued at $194,762,300. 27.99% of the stock is owned by corporate insiders.
SQ traded up $2.18 during midday trading on Thursday, hitting $65.69. The company had a trading volume of 23,227,500 shares, compared to its average volume of 13,823,828. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $26.26 billion, a PE ratio of -656.90 and a beta of 4.24. Square, Inc. has a twelve month low of $34.14 and a twelve month high of $101.15.
Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. Square had a negative net margin of 0.87% and a negative return on equity of 1.11%. The firm had revenue of $431.00 million during the quarter, compared to analysts’ expectations of $414.19 million. During the same quarter last year, the company posted $0.07 EPS. The company’s quarterly revenue was up 67.7% compared to the same quarter last year. On average, research analysts predict that Square, Inc. will post -0.02 EPS for the current year.
A number of equities analysts have recently commented on SQ shares. Evercore ISI set a $101.00 price objective on shares of Square and gave the stock an “outperform” rating in a report on Friday, September 21st. Goldman Sachs Group increased their target price on shares of Square from $77.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. KeyCorp reiterated an “overweight” rating and set a $115.00 target price (up previously from $75.00) on shares of Square in a research report on Tuesday, October 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $91.00 target price (up previously from $76.00) on shares of Square in a research report on Thursday, November 8th. Finally, Craig Hallum increased their target price on shares of Square from $37.00 to $55.00 and gave the stock a “sell” rating in a research report on Thursday, November 8th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have issued a buy rating to the stock. Square has a consensus rating of “Hold” and an average target price of $82.89.
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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