Square, Inc. (SQ) Stake Boosted by Blair William & Co. IL
Blair William & Co. IL raised its position in Square, Inc. (NYSE:SQ) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,036 shares of the technology company’s stock after buying an additional 4,978 shares during the period. Blair William & Co. IL’s holdings in Square were worth $1,667,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in SQ. Pacer Advisors Inc. increased its position in Square by 22.7% in the first quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after buying an additional 1,090 shares during the last quarter. Glassman Wealth Services increased its position in Square by 1,987.3% in the first quarter. Glassman Wealth Services now owns 6,575 shares of the technology company’s stock valued at $114,000 after buying an additional 6,260 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in Square during the first quarter valued at approximately $131,000. CENTRAL TRUST Co increased its position in Square by 683.7% in the second quarter. CENTRAL TRUST Co now owns 8,613 shares of the technology company’s stock valued at $203,000 after buying an additional 7,514 shares during the last quarter. Finally, Comerica Bank purchased a new position in Square during the second quarter valued at approximately $240,000. 68.74% of the stock is currently owned by hedge funds and other institutional investors.
Square, Inc. (NYSE SQ) opened at 24.99 on Friday. The company’s market capitalization is $9.59 billion. The stock has a 50 day moving average price of $25.67 and a 200-day moving average price of $20.83. Square, Inc. has a 52 week low of $10.88 and a 52 week high of $27.97.
Square (NYSE:SQ) last posted its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $240 million during the quarter, compared to analysts’ expectations of $228.64 million. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. Square’s quarterly revenue was up 40.4% on a year-over-year basis. During the same period last year, the company posted ($0.08) earnings per share. On average, equities analysts predict that Square, Inc. will post $0.24 earnings per share for the current fiscal year.
SQ has been the topic of several research reports. Credit Suisse Group downgraded Square from an “outperform” rating to a “neutral” rating and upped their target price for the company from $20.00 to $25.00 in a research report on Friday, June 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price (up previously from $20.00) on shares of Square in a research report on Thursday, May 4th. KeyCorp reaffirmed an “overweight” rating on shares of Square in a research report on Tuesday, July 18th. Barclays PLC reaffirmed an “overweight” rating and issued a $28.00 target price (up previously from $21.00) on shares of Square in a research report on Wednesday, August 9th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $26.00 target price (up previously from $18.00) on shares of Square in a research report on Wednesday, August 9th. Eleven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Square has a consensus rating of “Buy” and a consensus price target of $24.61.
In related news, CEO Jack Dorsey sold 309,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $22.70, for a total transaction of $7,014,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sarah Friar sold 38,400 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $26.39, for a total transaction of $1,013,376.00. Following the transaction, the chief financial officer now directly owns 368,791 shares of the company’s stock, valued at $9,732,394.49. The disclosure for this sale can be found here. Insiders have sold 952,600 shares of company stock valued at $23,044,764 over the last ninety days. 32.68% of the stock is currently owned by corporate insiders.
Square Company Profile
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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