Good Life Advisors LLC Acquires New Stake in Square, Inc. (SQ)

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.

Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.01) earnings per share (EPS) 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 firm had revenue of $489.00 million during the quarter, compared to the consensus estimate of $479.63 million. During the same period in the previous year, the firm earned $0.06 EPS. The business’s revenue was up 59.3% compared to the same quarter last year. On average, equities analysts expect that Square, Inc. will post 0.15 EPS for the current year.

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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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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Want to see what other hedge funds are holding SQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Square, Inc. (NYSE:SQ).

Institutional Ownership by Quarter for Square (NYSE:SQ)

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