Good Life Advisors LLC acquired a new stake in shares of Square, Inc. (NYSE:SQ) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 4,487 shares of the technology company’s stock, valued at approximately $343,000.
Other institutional investors have also added to or reduced their stakes in the company. Teachers Advisors LLC boosted its position in Square by 7.4% in the third quarter. Teachers Advisors LLC now owns 626,710 shares of the technology company’s stock worth $62,051,000 after purchasing an additional 43,338 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Square by 4.0% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,099,492 shares of the technology company’s stock valued at $108,861,000 after buying an additional 42,518 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Square by 201.3% during the 3rd quarter. Legal & General Group Plc now owns 1,051,975 shares of the technology company’s stock valued at $104,156,000 after buying an additional 702,826 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Square by 76.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 46,860 shares of the technology company’s stock valued at $2,628,000 after buying an additional 20,298 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Square during the 4th quarter valued at about $112,000. 55.56% of the stock is currently owned by institutional investors.
Shares of SQ opened at $63.75 on Friday. The company has a market cap of $28.11 billion, a P/E ratio of 3,187.50, a price-to-earnings-growth ratio of 17.58 and a beta of 3.49. Square, Inc. has a 12-month low of $49.82 and a 12-month high of $101.15. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.50 and a current ratio of 1.50.
In other Square news, insider Alyssa Henry sold 20,000 shares of Square stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $64.20, for a total value of $1,284,000.00. Following the sale, the insider now owns 459,793 shares of the company’s stock, valued at approximately $29,518,710.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jack Dorsey sold 103,035 shares of Square stock in a transaction that occurred on 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. In the last ninety days, insiders sold 716,606 shares of company stock worth $54,179,892. Corporate insiders own 21.79% of the company’s stock.
A number of research analysts have recently weighed in on SQ shares. ValuEngine cut Square from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. BMO Capital Markets lowered their price objective on Square to $90.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Tuesday, May 7th. Sanford C. Bernstein started coverage on Square in a research report on Tuesday, April 2nd. They set a “market perform” rating and a $80.00 price objective on the stock. Finally, Wedbush reaffirmed a “neutral” rating and set a $75.00 price objective on shares of Square in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Square presently has a consensus rating of “Hold” and a consensus target price of $86.14.
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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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