M&T Bank Corp boosted its position in Square, Inc. (NYSE:SQ) by 84.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,343 shares of the technology company’s stock after acquiring an additional 9,343 shares during the quarter. M&T Bank Corp’s holdings in Square were worth $477,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. FMR LLC boosted its position in Square by 114.7% in the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after buying an additional 12,764,491 shares in the last quarter. Vanguard Group Inc. boosted its position in Square by 73.4% in the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after buying an additional 8,058,892 shares in the last quarter. Renaissance Technologies LLC boosted its position in Square by 641.8% in the first quarter. Renaissance Technologies LLC now owns 8,578,500 shares of the technology company’s stock valued at $148,236,000 after buying an additional 7,422,000 shares in the last quarter. BlackRock Inc. boosted its position in Square by 23.0% in the second quarter. BlackRock Inc. now owns 6,618,987 shares of the technology company’s stock valued at $155,282,000 after buying an additional 1,235,662 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its position in Square by 39.3% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,699,540 shares of the technology company’s stock valued at $86,791,000 after buying an additional 1,044,120 shares in the last quarter. 53.83% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have weighed in on SQ shares. Bank of America Corporation started coverage on shares of Square in a research report on Tuesday, September 12th. They issued a “neutral” rating on the stock. Vetr upgraded shares of Square from a “buy” rating to a “strong-buy” rating and set a $26.28 target price on the stock in a research report on Tuesday, July 4th. Citigroup Inc. raised their target price on shares of Square from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 6th. Cantor Fitzgerald started coverage on shares of Square in a research report on Tuesday, September 12th. They issued an “overweight” rating and a $31.00 target price on the stock. Finally, Stifel Nicolaus restated a “buy” rating and issued a $29.00 target price (up previously from $23.00) on shares of Square in a research report on Sunday, July 30th. Thirteen research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $25.24.

ILLEGAL ACTIVITY NOTICE: “Square, Inc. (SQ) Position Lifted by M&T Bank Corp” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/10/08/square-inc-sq-position-lifted-by-mt-bank-corp.html.

Square, Inc. (SQ) opened at 30.76 on Friday. The firm’s market cap is $11.80 billion. Square, Inc. has a 12-month low of $10.88 and a 12-month high of $30.90. The company has a 50-day moving average of $27.34 and a 200 day moving average of $23.25.

Square (NYSE:SQ) last posted its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The firm had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $228.64 million. During the same period last year, the company posted ($0.08) EPS. The company’s quarterly revenue was up 40.4% compared to the same quarter last year. Equities analysts expect that Square, Inc. will post $0.24 EPS for the current fiscal year.

In related news, CFO Sarah Friar sold 19,200 shares of Square stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $28.41, for a total transaction of $545,472.00. Following the completion of the transaction, the chief financial officer now directly owns 366,103 shares of the company’s stock, valued at approximately $10,400,986.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total transaction of $10,008,000.00. Following the transaction, the director now directly owns 507,385 shares of the company’s stock, valued at $12,694,772.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 972,800 shares of company stock valued at $25,520,512. Corporate insiders own 32.68% of the company’s stock.

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.

Institutional Ownership by Quarter for Square (NYSE:SQ)

Receive News & Stock Ratings for Square Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square Inc. and related stocks with our FREE daily email newsletter.