Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Square, Inc. (NYSE:SQ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,800 shares of the technology company’s stock, valued at approximately $213,000.
Several other hedge funds have also recently made changes to their positions in SQ. Pearl River Capital LLC acquired a new position in Square in the 4th quarter worth $28,000. Johnson Financial Group Inc. acquired a new position in Square in the 4th quarter worth $28,000. TCI Wealth Advisors Inc. boosted its stake in Square by 171.5% in the 4th 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 period. Doyle Wealth Management acquired a new position in Square in the 4th quarter worth $29,000. Finally, Rehmann Capital Advisory Group boosted its stake in Square by 70.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 588 shares of the technology company’s stock worth $33,000 after purchasing an additional 243 shares during the period. 52.15% of the stock is owned by institutional investors.
In other news, CEO Jack Dorsey sold 68,690 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $74.44, for a total transaction of $5,113,283.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ajmere Dale sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $80.00, for a total transaction of $163,840.00. Following the transaction, the chief accounting officer now directly owns 79,985 shares in the company, valued at $6,398,800. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,324,816 shares of company stock worth $98,090,920. Insiders own 27.99% of the company’s stock.
SQ has been the subject of a number of research analyst reports. Mizuho upped their target price on shares of Square from $75.00 to $85.00 in a research note on Thursday, February 28th. Cantor Fitzgerald restated a “buy” rating and set a $91.00 price objective on shares of Square in a research note on Wednesday, February 27th. Canaccord Genuity restated a “buy” rating and set a $88.00 price objective on shares of Square in a research note on Wednesday, February 27th. Tigress Financial restated a “buy” rating on shares of Square in a research note on Wednesday, December 19th. Finally, Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Wednesday, January 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $84.82.
Square stock traded down $0.22 during trading hours on Friday, hitting $75.28. The company had a trading volume of 6,310,146 shares, compared to its average volume of 8,720,737. The stock has a market cap of $31.69 billion, a P/E ratio of 3,764.00, a P/E/G ratio of 20.59 and a beta of 3.64. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.80. Square, Inc. has a one year low of $43.72 and a one year high of $101.15.
Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, February 27th. The technology company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.04. The firm had revenue of $464.00 million for the quarter, compared to analysts’ expectations of $453.88 million. Square had a negative net margin of 1.17% and a positive return on equity of 0.86%. The business’s revenue was up 64.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. Equities analysts anticipate that Square, Inc. will post 0.15 earnings per share for the current fiscal year.
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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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