DNB Asset Management AS lowered its holdings in Square, Inc. (NYSE:SQ) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,021 shares of the technology company’s stock after selling 1,787 shares during the period. DNB Asset Management AS’s holdings in Square were worth $2,324,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Panagora Asset Management Inc. acquired a new position in Square during the third quarter worth about $119,000. Dimensional Fund Advisors LP grew its position in Square by 126.1% during the third quarter. Dimensional Fund Advisors LP now owns 258,736 shares of the technology company’s stock worth $25,614,000 after buying an additional 144,304 shares during the period. Fifth Third Bancorp grew its position in Square by 388.0% during the third quarter. Fifth Third Bancorp now owns 4,680 shares of the technology company’s stock worth $463,000 after buying an additional 3,721 shares during the period. Advisors Asset Management Inc. grew its position in Square by 23.8% during the third quarter. Advisors Asset Management Inc. now owns 32,905 shares of the technology company’s stock worth $3,258,000 after buying an additional 6,333 shares during the period. Finally, Smith Moore & CO. acquired a new position in Square during the third quarter worth about $280,000. 52.15% of the stock is currently owned by institutional investors.
Square stock opened at $73.49 on Wednesday. The company has a market capitalization of $31.22 billion, a PE ratio of 3,674.50, a PEG ratio of 20.53 and a beta of 3.64. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.80. Square, Inc. has a fifty-two week low of $43.72 and a fifty-two week high of $101.15.
Square (NYSE:SQ) last released its earnings results on Wednesday, February 27th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. The business had revenue of $464.00 million for the quarter, compared to the consensus estimate of $453.88 million. Square had a negative net margin of 1.17% and a positive return on equity of 0.86%. The firm’s quarterly revenue was up 64.0% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. On average, equities research analysts predict that Square, Inc. will post 0.15 earnings per share for the current fiscal year.
Several research analysts have weighed in on the stock. Macquarie started coverage on shares of Square in a research report on Wednesday, March 27th. They set an “outperform” rating and a $94.00 target price on the stock. Piper Jaffray Companies reduced their price target on shares of Square from $92.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, December 21st. Zacks Investment Research downgraded shares of Square from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. Mizuho upped their price target on shares of Square from $75.00 to $85.00 in a report on Thursday, February 28th. Finally, Raymond James downgraded shares of Square from a “market perform” rating to an “underperform” rating and set a $73.29 price target on the stock. in a report on Tuesday, January 29th. Three equities 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 has a consensus rating of “Buy” and a consensus target price of $84.82.
In related news, CAO Ajmere Dale sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $80.00, for a total transaction of $163,840.00. Following the completion of the sale, the chief accounting officer now directly owns 79,985 shares in the company, valued at $6,398,800. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline D. Reses sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $70.85, for a total transaction of $1,062,750.00. Following the sale, the insider now owns 405,252 shares of the company’s stock, valued at $28,712,104.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,221,781 shares of company stock worth $91,290,610. 27.99% of the stock is currently owned by insiders.
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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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