Teacher Retirement System of Texas increased its holdings in shares of Square, Inc. (NYSE:SQ) by 895.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,159 shares of the technology company’s stock after purchasing an additional 37,023 shares during the period. Teacher Retirement System of Texas’ holdings in Square were worth $3,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Lenox Wealth Management Inc. acquired a new stake in shares of Square in the first quarter valued at about $25,000. Legacy Advisors LLC acquired a new stake in shares of Square in the first quarter valued at about $27,000. FTB Advisors Inc. acquired a new stake in shares of Square in the first quarter valued at about $27,000. Pearl River Capital LLC acquired a new stake in shares of Square in the fourth quarter valued at about $28,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Square in the fourth quarter valued at about $28,000. 52.24% of the stock is owned by hedge funds and other institutional investors.
SQ traded down $0.90 on Monday, reaching $64.41. 2,052,440 shares of the company’s stock were exchanged, compared to its average volume of 10,114,562. The firm has a market capitalization of $27.62 billion, a PE ratio of 3,220.50, a PEG ratio of 17.32 and a beta of 3.49. Square, Inc. has a twelve month low of $49.82 and a twelve month high of $101.15. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.91.
Several analysts have recently issued reports on SQ shares. Nomura reiterated a “buy” rating and issued a $110.00 target price (up previously from $108.00) on shares of Square in a research report on Thursday, January 24th. KeyCorp dropped their target price on shares of Square from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, February 28th. Jefferies Financial Group lifted their target price on shares of Square to $73.00 and gave the company a “hold” rating in a research report on Thursday, February 28th. Cantor Fitzgerald reiterated a “buy” rating and issued a $91.00 target price on shares of Square in a research report on Wednesday, February 27th. Finally, Sanford C. Bernstein started coverage on shares of Square in a research report on Tuesday, April 2nd. They issued a “market perform” rating and a $80.00 target price on the stock. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-one have issued a buy rating to the company. Square currently has a consensus rating of “Hold” and a consensus price target of $86.14.
In other Square news, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $78.04, for a total value of $8,040,851.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ajmere Dale sold 2,048 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $80.00, for a total transaction of $163,840.00. Following the completion of the transaction, the chief accounting officer now owns 79,985 shares in the company, valued at $6,398,800. The disclosure for this sale can be found here. Insiders sold a total of 819,641 shares of company stock worth $62,130,073 over the last quarter. 21.79% of the stock is currently owned by company insiders.
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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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