Square, Inc. (SQ) Shares Sold by Redwood Investments LLC

Redwood Investments LLC trimmed its holdings in shares of Square, Inc. (NYSE:SQ) by 7.0% in the 1st quarter, Holdings Channel reports. The firm owned 22,660 shares of the technology company’s stock after selling 1,717 shares during the quarter. Redwood Investments LLC’s holdings in Square were worth $1,698,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised its holdings in shares of Square by 4,800.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,698,238 shares of the technology company’s stock valued at $66,000 after acquiring an additional 3,622,766 shares in the last quarter. Norges Bank bought a new stake in shares of Square in the fourth quarter valued at about $141,059,000. Jennison Associates LLC raised its holdings in shares of Square by 34.3% in the fourth quarter. Jennison Associates LLC now owns 9,663,722 shares of the technology company’s stock valued at $542,038,000 after acquiring an additional 2,470,434 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its holdings in shares of Square by 11,275.7% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,998,253 shares of the technology company’s stock valued at $112,082,000 after acquiring an additional 1,980,687 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. raised its holdings in shares of Square by 45.3% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 4,238,388 shares of the technology company’s stock valued at $237,731,000 after acquiring an additional 1,321,321 shares in the last quarter. Institutional investors and hedge funds own 52.24% of the company’s stock.

In other news, CAO Ajmere Dale sold 2,048 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $80.00, for a total transaction of $163,840.00. Following the sale, the chief accounting officer now owns 79,985 shares in the company, valued at $6,398,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $78.04, for a total value of $8,040,851.40. The disclosure for this sale can be found here. Insiders have sold 819,641 shares of company stock worth $62,130,073 in the last 90 days. Insiders own 21.79% of the company’s stock.

Several analysts recently weighed in on the company. Macquarie assumed coverage on Square in a report on Wednesday, March 27th. They issued an “outperform” rating and a $94.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective (down from $95.00) on shares of Square in a report on Thursday, May 2nd. Mizuho lifted their price objective on Square from $75.00 to $85.00 in a report on Thursday, February 28th. Raymond James downgraded Square from a “market perform” rating to an “underperform” rating and set a $73.29 price objective for the company. in a report on Tuesday, January 29th. Finally, SunTrust Banks lifted their price objective on Square to $75.00 and gave the company a “hold” rating in a report on Thursday, February 28th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $86.14.

Shares of Square stock opened at $65.31 on Friday. The stock has a market capitalization of $28.08 billion, a price-to-earnings ratio of 3,265.50, a PEG ratio of 17.61 and a beta of 3.49. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. Square, Inc. has a one year low of $49.82 and a one year high of $101.15.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.09). Square had a positive return on equity of 1.86% and a negative net margin of 1.47%. The business had revenue of $489.00 million for the quarter, compared to analysts’ expectations of $479.63 million. During the same quarter in the previous year, the firm posted $0.06 EPS. Square’s revenue was up 59.3% on a year-over-year basis. On average, sell-side analysts anticipate that Square, Inc. will post 0.15 EPS for the current year.

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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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