Bank Hapoalim BM Buys New Holdings in Square, Inc. (SQ)
Bank Hapoalim BM bought a new position in Square, Inc. (NYSE:SQ) during the 1st quarter, Holdings Channel reports. The fund bought 3,310 shares of the technology company’s stock, valued at approximately $248,000.
Several other hedge funds also recently added to or reduced their stakes in SQ. Teachers Advisors LLC grew its stake in shares of Square by 7.4% in the 3rd quarter. Teachers Advisors LLC now owns 626,710 shares of the technology company’s stock valued at $62,051,000 after purchasing an additional 43,338 shares during the period. TIAA CREF Investment Management LLC grew its stake in shares of Square by 4.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,099,492 shares of the technology company’s stock valued at $108,861,000 after purchasing an additional 42,518 shares during the period. Legal & General Group Plc grew its stake in shares of Square by 201.3% in the 3rd quarter. Legal & General Group Plc now owns 1,051,975 shares of the technology company’s stock valued at $104,156,000 after purchasing an additional 702,826 shares during the period. Federated Investors Inc. PA grew its stake in shares of Square by 56.3% in the 3rd quarter. Federated Investors Inc. PA now owns 137,664 shares of the technology company’s stock valued at $13,630,000 after purchasing an additional 49,598 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in shares of Square by 3.1% in the 4th quarter. State of Alaska Department of Revenue now owns 36,157 shares of the technology company’s stock valued at $2,028,000 after purchasing an additional 1,096 shares during the period. 52.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SQ opened at $65.23 on Thursday. The firm has a market capitalization of $27.12 billion, a price-to-earnings ratio of 3,261.50, a PEG ratio of 16.55 and a beta of 3.49. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.50 and a current ratio of 1.50. Square, Inc. has a 52 week low of $49.82 and a 52 week high of $101.15.
Several equities research analysts have recently weighed in on the company. ValuEngine lowered Square from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Tuesday, May 7th. BMO Capital Markets lowered their price objective on Square to $90.00 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. Wedbush reiterated a “neutral” rating and issued a $75.00 price objective on shares of Square in a research note on Thursday, May 2nd. Finally, SunTrust Banks lowered their price objective on Square to $65.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $86.14.
In other Square news, CEO Jack Dorsey sold 103,035 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $78.04, for a total value of $8,040,851.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ajmere Dale sold 2,048 shares of the stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $80.00, for a total value of $163,840.00. Following the completion of the transaction, the chief accounting officer now owns 79,985 shares in the company, valued at $6,398,800. The disclosure for this sale can be found here. Insiders sold a total of 799,641 shares of company stock worth $60,846,073 over the last quarter. Corporate insiders own 21.79% of the company’s stock.
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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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