Virtu KCG Holdings LLC Acquires New Holdings in Square, Inc. (SQ)
Virtu KCG Holdings LLC acquired a new position in Square, Inc. (NYSE:SQ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,265 shares of the technology company’s stock, valued at approximately $2,352,000.
Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in Square by 22.7% in the 1st quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after acquiring an additional 1,090 shares during the last quarter. Almanack Investment Partners LLC. acquired a new stake in Square in the 2nd quarter valued at about $117,000. Riverhead Capital Management LLC acquired a new stake in Square in the 2nd quarter valued at about $149,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Square by 19.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after acquiring an additional 1,099 shares during the last quarter. Finally, FNY Partners Fund LP lifted its holdings in Square by 55.4% in the 1st quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock valued at $174,000 after acquiring an additional 3,600 shares during the last quarter. 53.83% of the stock is owned by institutional investors and hedge funds.
SQ has been the subject of a number of research analyst reports. Bank of America Corporation initiated coverage on shares of Square in a report on Tuesday, September 12th. They issued a “neutral” rating for the company. Vetr raised shares of Square from a “buy” rating to a “strong-buy” rating and set a $26.28 price target for the company in a report on Tuesday, July 4th. Citigroup Inc. upped their price target on shares of Square from $23.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 6th. Cantor Fitzgerald initiated coverage on shares of Square in a report on Tuesday, September 12th. They issued an “overweight” rating and a $31.00 price target for the company. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $29.00 price target (up from $23.00) on shares of Square in a report on Sunday, July 30th. Eleven research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Square presently has a consensus rating of “Buy” and a consensus price target of $24.95.
Square (NYSE:SQ) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The business had revenue of $240.00 million for the quarter, compared to analyst estimates of $228.64 million. During the same quarter last year, the firm earned ($0.08) EPS. Square’s revenue for the quarter was up 40.4% compared to the same quarter last year.
In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $27.22, for a total transaction of $10,888,000.00. Following the transaction, the director now owns 507,385 shares of the company’s stock, valued at approximately $13,811,019.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $26.39, for a total value of $1,013,376.00. Following the transaction, the chief financial officer now directly owns 368,791 shares in the company, valued at approximately $9,732,394.49. The disclosure for this sale can be found here. In the last three months, insiders sold 972,800 shares of company stock worth $25,520,512. 32.68% of the stock is owned by 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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