Jag Capital Management LLC Acquires New Stake in Square, Inc. (SQ)

Jag Capital Management LLC acquired a new stake in shares of Square, Inc. (NYSE:SQ) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 237,190 shares of the technology company’s stock, valued at approximately $17,770,000. Square makes up about 2.9% of Jag Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Jag Capital Management LLC owned approximately 0.06% of Square as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of SQ. Panagora Asset Management Inc. acquired a new position in shares of Square in the third quarter worth about $119,000. Dimensional Fund Advisors LP boosted its holdings in shares of Square by 126.1% in the third quarter. Dimensional Fund Advisors LP now owns 258,736 shares of the technology company’s stock worth $25,614,000 after buying an additional 144,304 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Square by 388.0% in the third quarter. Fifth Third Bancorp now owns 4,680 shares of the technology company’s stock worth $463,000 after buying an additional 3,721 shares during the period. Capital International Investors acquired a new position in shares of Square in the third quarter worth about $29,198,000. Finally, HBK Sorce Advisory LLC acquired a new position in shares of Square in the third quarter worth about $245,000. Institutional investors own 52.15% of the company’s stock.

A number of analysts have recently issued reports on SQ shares. Nomura reissued a “buy” rating and issued a $110.00 price target (up from $108.00) on shares of Square in a research report on Thursday, January 24th. KeyCorp reduced their price target on shares of Square from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, February 28th. Tigress Financial reissued a “buy” rating on shares of Square in a research report on Wednesday, December 19th. Wolfe Research raised shares of Square from a “market perform” rating to an “outperform” rating in a research report on Friday, January 4th. Finally, Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Wednesday, January 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $84.82.

SQ traded down $0.89 during midday trading on Monday, hitting $74.39. 6,775,533 shares of the company’s stock traded hands, compared to its average volume of 12,857,089. Square, Inc. has a one year low of $43.72 and a one year high of $101.15. The firm has a market cap of $31.59 billion, a PE ratio of 3,719.50, a PEG ratio of 20.59 and a beta of 3.64. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.07 and a current ratio of 2.07.

Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, February 27th. The technology company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.04. Square had a negative net margin of 1.17% and a positive return on equity of 0.86%. The company had revenue of $464.00 million for the quarter, compared to analyst estimates of $453.88 million. During the same quarter last year, the firm posted $0.08 earnings per share. The company’s quarterly revenue was up 64.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Square, Inc. will post 0.15 earnings per share for the current fiscal year.

In other news, CEO Jack Dorsey sold 68,690 shares of Square stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $74.44, for a total value of $5,113,283.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ajmere Dale sold 2,658 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $199,296.84. Following the completion of the sale, the insider now owns 74,526 shares in the company, valued at approximately $5,587,959.48. The disclosure for this sale can be found here. In the last three months, insiders sold 1,324,816 shares of company stock worth $98,090,920. Insiders own 27.99% of the company’s stock.

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About Square

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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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