RPG Investment Advisory LLC Increases Holdings in Square, Inc. (SQ)
RPG Investment Advisory LLC boosted its position in Square, Inc. (NYSE:SQ) by 24.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,425 shares of the technology company’s stock after purchasing an additional 2,045 shares during the period. RPG Investment Advisory LLC’s holdings in Square were worth $781,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in SQ. Legacy Advisors LLC purchased a new position in Square in the first quarter worth about $27,000. Pearl River Capital LLC purchased a new position in Square in the fourth quarter worth about $28,000. Johnson Financial Group Inc. purchased a new position in Square in the fourth quarter worth about $28,000. TCI Wealth Advisors Inc. boosted its position in Square by 171.5% in the fourth quarter. TCI Wealth Advisors Inc. now owns 524 shares of the technology company’s stock worth $29,000 after purchasing an additional 331 shares during the last quarter. Finally, Doyle Wealth Management purchased a new position in Square in the fourth quarter worth about $29,000. 52.15% of the stock is currently owned by institutional investors and hedge funds.
SQ traded down $0.89 on Monday, hitting $74.39. 6,775,533 shares of the company’s stock traded hands, compared to its average volume of 12,857,103. The company has a market capitalization of $31.59 billion, a PE ratio of 3,719.50, a price-to-earnings-growth ratio of 20.59 and a beta of 3.64. Square, Inc. has a one year low of $43.72 and a one year high of $101.15. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.80.
In other Square news, insider Jacqueline D. Reses sold 15,000 shares of Square stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $70.85, for a total value of $1,062,750.00. Following the sale, the insider now owns 405,252 shares of the company’s stock, valued at approximately $28,712,104.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jack Dorsey sold 103,035 shares of Square stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $66.00, for a total value of $6,800,310.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,324,816 shares of company stock worth $98,090,920 in the last three months. 27.99% of the stock is owned by corporate insiders.
A number of research firms have recently weighed in on SQ. Mizuho lifted their price objective on Square from $75.00 to $85.00 in a research report on Thursday, February 28th. Piper Jaffray Companies lifted their price objective on Square to $76.00 and gave the company a “neutral” rating in a research report on Thursday, February 28th. SunTrust Banks lifted their price objective on Square to $75.00 and gave the company a “hold” rating in a research report on Thursday, February 28th. Macquarie began coverage on Square in a research report on Wednesday, March 27th. They set an “outperform” rating and a $94.00 price objective on the stock. Finally, Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Wednesday, January 9th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Square currently has a consensus rating of “Buy” and a consensus price target of $84.82.
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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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