Square, Inc. (SQ) Position Increased by Voya Investment Management LLC
Voya Investment Management LLC lifted its stake in Square, Inc. (NYSE:SQ) by 306.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,549 shares of the technology company’s stock after purchasing an additional 64,495 shares during the period. Voya Investment Management LLC’s holdings in Square were worth $2,007,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in SQ. Almanack Investment Partners LLC. acquired a new position in Square during the second quarter worth about $117,000. Riverhead Capital Management LLC acquired a new position in Square during the second quarter worth about $149,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Square by 19.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,099 shares during the last quarter. FNY Partners Fund LP raised its position in Square by 55.4% during the first quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock worth $174,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Square by 0.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock worth $175,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.
Shares of Square, Inc. (NYSE:SQ) opened at 32.69 on Wednesday. The company has a 50-day moving average of $28.42 and a 200-day moving average of $23.89. The stock’s market capitalization is $12.54 billion. Square, Inc. has a 12-month low of $10.88 and a 12-month high of $33.31.
Square (NYSE:SQ) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $228.64 million. During the same period in the previous year, the business posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 40.4% compared to the same quarter last year. Equities analysts expect that Square, Inc. will post $0.24 earnings per share for the current fiscal year.
In related news, CFO Sarah Friar sold 19,200 shares of Square stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $25.54, for a total value of $490,368.00. Following the completion of the sale, the chief financial officer now directly owns 366,103 shares in the company, valued at $9,350,270.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $27.22, for a total value of $10,888,000.00. Following the completion of the sale, the director now owns 507,385 shares of the company’s stock, valued at $13,811,019.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 953,600 shares of company stock valued at $25,263,040. Corporate insiders own 32.68% of the company’s stock.
A number of equities analysts have issued reports on the stock. Credit Suisse Group lifted their target price on shares of Square from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, August 3rd. Vetr upgraded shares of Square from a “hold” rating to a “buy” rating and set a $34.27 target price for the company in a research report on Tuesday. Citigroup Inc. lifted their target price on shares of Square to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays PLC restated an “overweight” rating and set a $28.00 target price (up previously from $21.00) on shares of Square in a research report on Thursday, August 3rd. Finally, KeyCorp restated an “overweight” rating on shares of Square in a research report on Tuesday, July 18th. Eleven equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $26.57.
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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