OMERS ADMINISTRATION Corp acquired a new position in shares of Square Inc (NYSE:SQ) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 153,200 shares of the technology company’s stock, valued at approximately $2,647,000.
A number of other large investors also recently made changes to their positions in the stock. Highbridge Capital Management LLC bought a new stake in shares of Square during the fourth quarter worth $314,000. State Street Corp raised its stake in shares of Square by 4.1% in the fourth quarter. State Street Corp now owns 1,122,838 shares of the technology company’s stock worth $15,302,000 after buying an additional 44,331 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Square during the fourth quarter worth $15,763,000. Alyeska Investment Group L.P. raised its stake in shares of Square by 15.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,258,069 shares of the technology company’s stock worth $30,777,000 after buying an additional 294,791 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Square by 32.0% in the fourth quarter. GSA Capital Partners LLP now owns 25,231 shares of the technology company’s stock worth $344,000 after buying an additional 6,122 shares during the last quarter. Institutional investors own 24.28% of the company’s stock.
Shares of Square Inc (NYSE:SQ) traded up 1.17% on Friday, hitting $19.91. 5,086,741 shares of the stock were exchanged. The stock’s market cap is $7.45 billion. The company’s 50 day moving average is $18.32 and its 200-day moving average is $15.51. Square Inc has a 52-week low of $8.42 and a 52-week high of $20.69.
Square (NYSE:SQ) last issued its earnings results on Wednesday, May 3rd. The technology company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. The firm had revenue of $461.55 million for the quarter, compared to analysts’ expectations of $450.66 million. Square had a negative net margin of 12.55% and a negative return on equity of 31.99%. Analysts predict that Square Inc will post ($0.19) EPS for the current fiscal year.
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A number of equities research analysts recently weighed in on SQ shares. Mizuho reiterated a “buy” rating on shares of Square in a report on Monday, March 20th. Instinet lifted their price objective on shares of Square from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, March 6th. Vetr upgraded shares of Square from a “buy” rating to a “strong-buy” rating and set a $22.17 price objective for the company in a report on Thursday, May 11th. Morgan Stanley lifted their price objective on shares of Square from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, February 23rd. Finally, Citigroup Inc started coverage on shares of Square in a report on Friday, February 17th. They set a “buy” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $18.51.
In related news, CEO Jack Dorsey sold 381,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $16.80, for a total value of $6,409,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ventures Iii L.P. Khosla sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $17.30, for a total transaction of $17,300,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,183,338 shares of company stock worth $56,299,960. 42.60% of the stock is owned by corporate insiders.
Square Company Profile
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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