Square, Inc. (SQ) Position Raised by National Asset Management Inc.

National Asset Management Inc. boosted its position in Square, Inc. (NYSE:SQ) by 21.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 12,444 shares of the technology company’s stock after purchasing an additional 2,209 shares during the period. National Asset Management Inc.’s holdings in Square were worth $292,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of SQ. FMR LLC lifted its stake in Square by 114.7% in the 2nd quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after purchasing an additional 12,764,491 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Square by 73.4% during the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock worth $446,558,000 after purchasing an additional 8,058,892 shares during the period. BlackRock Inc. increased its holdings in shares of Square by 7,162.2% during the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock worth $93,023,000 after purchasing an additional 5,309,197 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Square by 556.5% during the second quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock worth $107,786,000 after purchasing an additional 3,894,639 shares during the period. Finally, Capital World Investors increased its holdings in shares of Square by 32.8% during the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock worth $365,925,000 after purchasing an additional 3,853,000 shares during the period. Institutional investors and hedge funds own 53.97% of the company’s stock.

In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $27.22, for a total transaction of $10,888,000.00. Following the completion of the sale, the director now owns 507,385 shares in the company, valued at $13,811,019.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $26.39, for a total value of $1,013,376.00. Following the sale, the chief financial officer now owns 368,791 shares of the company’s stock, valued at approximately $9,732,394.49. The disclosure for this sale can be found here. Insiders sold a total of 953,600 shares of company stock valued at $25,016,512 in the last quarter. Company insiders own 32.68% of the company’s stock.

Several brokerages have recently commented on SQ. CIBC began coverage on shares of Square in a report on Thursday. They set an “outperform” rating and a $35.00 target price on the stock. Oppenheimer Holdings, Inc. started coverage on shares of Square in a research note on Thursday. They issued an “outperform” rating and a $35.00 price objective on the stock. Vetr lowered shares of Square from a “buy” rating to a “hold” rating and set a $32.96 target price on the stock. in a research report on Wednesday, October 11th. Bank of America Corporation raised their target price on shares of Square from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, October 9th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $31.00 target price on shares of Square in a research report on Sunday, October 8th. Thirteen investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Square currently has an average rating of “Buy” and a consensus target price of $26.11.

Square, Inc. (NYSE SQ) traded down 0.34% on Monday, hitting $32.70. 1,033,434 shares of the stock were exchanged. The firm’s market cap is $12.55 billion. Square, Inc. has a 52-week low of $10.88 and a 52-week high of $33.22. The stock’s 50 day moving average price is $28.42 and its 200 day moving average price is $23.89.

Square (NYSE:SQ) last released its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $240.00 million during the quarter, compared to the consensus estimate of $228.64 million. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. Square’s revenue was up 40.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) EPS. Equities research analysts forecast that Square, Inc. will post $0.24 earnings per share for the current year.

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About Square

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.

Institutional Ownership by Quarter for Square (NYSE:SQ)

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