Square, Inc. (SQ) Shares Bought by QS Investors LLC

QS Investors LLC raised its holdings in shares of Square, Inc. (NYSE:SQ) by 41.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,725 shares of the technology company’s stock after purchasing an additional 1,100 shares during the quarter. QS Investors LLC’s holdings in Square were worth $209,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SQ. Cavalier Investments LLC acquired a new position in Square during the 4th quarter valued at approximately $841,000. Capital Investment Advisory Services LLC bought a new stake in Square during the 4th quarter valued at $47,000. Janney Montgomery Scott LLC raised its stake in Square by 17.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 26,739 shares of the technology company’s stock valued at $1,500,000 after acquiring an additional 3,886 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in Square by 0.5% during the 4th quarter. Xact Kapitalforvaltning AB now owns 50,893 shares of the technology company’s stock valued at $2,855,000 after acquiring an additional 247 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in Square by 11.5% during the 3rd quarter. Toronto Dominion Bank now owns 31,501 shares of the technology company’s stock valued at $3,118,000 after acquiring an additional 3,253 shares in the last quarter. Hedge funds and other institutional investors own 52.15% of the company’s stock.

In related news, CEO Jack Dorsey sold 103,035 shares of Square stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $66.00, for a total value of $6,800,310.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jacqueline D. Reses sold 15,000 shares of Square stock in a transaction on Friday, February 1st. The stock was sold at an average price of $70.85, for a total value of $1,062,750.00. Following the completion of the transaction, the insider now owns 405,252 shares in the company, valued at $28,712,104.20. The disclosure for this sale can be found here. Insiders sold a total of 1,324,816 shares of company stock worth $98,090,920 over the last 90 days. Insiders own 27.99% of the company’s stock.

Shares of SQ traded down $0.89 during midday trading on Monday, reaching $74.39. The stock had a trading volume of 6,775,533 shares, compared to its average volume of 12,857,103. Square, Inc. has a 52 week low of $43.72 and a 52 week high of $101.15. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market capitalization of $31.59 billion, a PE ratio of 3,719.50, a P/E/G ratio of 20.59 and a beta of 3.64.

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

Several analysts have weighed in on SQ shares. ValuEngine raised Square from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 25th. Sanford C. Bernstein started coverage on Square in a research note on Tuesday, April 2nd. They set a “market perform” rating and a $80.00 target price on the stock. Nomura lifted their target price on Square from $107.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, January 8th. Wolfe Research raised Square from a “market perform” rating to an “outperform” rating in a research note on Friday, January 4th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $88.00 target price on shares of Square in a research note on Wednesday, February 27th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Square has an average rating of “Buy” and a consensus target price of $84.82.

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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.

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Institutional Ownership by Quarter for Square (NYSE:SQ)

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