Bedrijfstakpensioenfonds Voor DE Media PNO Makes New $4.26 Million Investment in Square, Inc. (NYSE:SQ)
Bedrijfstakpensioenfonds Voor DE Media PNO acquired a new stake in shares of Square, Inc. (NYSE:SQ) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 75,000 shares of the technology company’s stock, valued at approximately $4,262,000.
Other institutional investors have also recently modified their holdings of the company. AE Wealth Management LLC raised its stake in Square by 359.7% during the second quarter. AE Wealth Management LLC now owns 14,047 shares of the technology company’s stock valued at $1,019,000 after purchasing an additional 10,991 shares in the last quarter. Eagle Capital Management LLC increased its stake in Square by 0.7% during the second quarter. Eagle Capital Management LLC now owns 40,093 shares of the technology company’s stock worth $2,908,000 after acquiring an additional 268 shares during the last quarter. BB&T Corp raised its position in Square by 18.3% during the second quarter. BB&T Corp now owns 10,533 shares of the technology company’s stock valued at $764,000 after purchasing an additional 1,632 shares during the period. FNY Investment Advisers LLC purchased a new stake in Square during the second quarter valued at approximately $85,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Square by 9.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 34,759 shares of the technology company’s stock valued at $2,521,000 after purchasing an additional 3,009 shares during the last quarter. Hedge funds and other institutional investors own 57.90% of the company’s stock.
In other Square news, insider Jacqueline D. Reses sold 90,455 shares of Square stock in a transaction on Friday, November 8th. The shares were sold at an average price of $62.28, for a total value of $5,633,537.40. Following the transaction, the insider now directly owns 368,157 shares of the company’s stock, valued at $22,928,817.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alyssa Henry sold 20,000 shares of Square stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $60.26, for a total transaction of $1,205,200.00. Following the completion of the transaction, the insider now directly owns 442,168 shares in the company, valued at $26,645,043.68. The disclosure for this sale can be found here. Corporate insiders own 21.79% of the company’s stock.
Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The firm had revenue of $602.00 million for the quarter, compared to the consensus estimate of $596.85 million. Square had a negative net margin of 1.01% and a positive return on equity of 5.72%. The company’s quarterly revenue was up 39.7% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. On average, equities research analysts predict that Square, Inc. will post 0.12 earnings per share for the current fiscal year.
SQ has been the subject of a number of analyst reports. Moffett Nathanson upgraded Square from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley set a $74.00 target price on shares of Square and gave the company a “hold” rating in a research note on Thursday, August 29th. Atlantic Securities started coverage on shares of Square in a report on Tuesday, September 3rd. They issued an “underweight” rating and a $55.00 target price for the company. Bank of America set a $70.00 price target on shares of Square and gave the company a “hold” rating in a report on Tuesday, September 24th. Finally, Susquehanna Bancshares upgraded shares of Square from a “neutral” rating to a “positive” rating and set a $77.00 price target on the stock in a report on Friday, October 11th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $72.25.
Square Company Profile
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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