Westside Investment Management Inc. Makes New $68,000 Investment in Square, Inc. (NYSE:SQ)

Westside Investment Management Inc. bought a new position in Square, Inc. (NYSE:SQ) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 950 shares of the technology company’s stock, valued at approximately $68,000.

A number of other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of Square by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 268,982 shares of the technology company’s stock valued at $15,088,000 after acquiring an additional 10,246 shares during the period. APG Asset Management N.V. purchased a new position in Square in the 4th quarter worth about $1,222,000. Schnieders Capital Management LLC purchased a new position in Square in the 1st quarter worth about $316,000. Legacy Advisors LLC purchased a new position in Square in the 1st quarter worth about $27,000. Finally, Huntington National Bank increased its stake in Square by 23.8% in the 1st quarter. Huntington National Bank now owns 2,260 shares of the technology company’s stock worth $169,000 after buying an additional 434 shares during the period. 52.64% of the stock is owned by institutional investors and hedge funds.

Shares of Square stock traded up $0.15 during midday trading on Wednesday, hitting $64.75. The company had a trading volume of 3,180,723 shares, compared to its average volume of 9,679,424. Square, Inc. has a 12-month low of $49.82 and a 12-month high of $101.15. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $27.32 billion, a PE ratio of 3,237.62, a price-to-earnings-growth ratio of 18.66 and a beta of 3.31. The business has a fifty day moving average price of $75.95.

Square (NYSE:SQ) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.20. The firm had revenue of $563.00 million for the quarter, compared to analysts’ expectations of $557.67 million. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. The firm’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. As a group, sell-side analysts anticipate that Square, Inc. will post 0.15 earnings per share for the current fiscal year.

Several research analysts recently commented on the stock. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Tuesday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target (down previously from $95.00) on shares of Square in a research note on Thursday, May 2nd. SunTrust Banks raised their price target on shares of Square to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Nomura raised their price target on shares of Square from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Sanford C. Bernstein assumed coverage on shares of Square in a research note on Tuesday, April 16th. They issued a “market perform” rating and a $80.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $84.44.

In other Square news, insider Alyssa Henry sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $64.20, for a total transaction of $1,284,000.00. Following the sale, the insider now directly owns 459,793 shares in the company, valued at $29,518,710.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ajmere Dale sold 2,296 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $60.86, for a total transaction of $139,734.56. Following the sale, the insider now owns 79,725 shares in the company, valued at $4,852,063.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,249 shares of company stock worth $5,553,625. 21.79% of the stock is owned by insiders.

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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