Cullinan Associates Inc. Cuts Holdings in Square Inc (SQ)

Cullinan Associates Inc. decreased its holdings in shares of Square Inc (NYSE:SQ) by 17.1% in the 4th quarter, Holdings Channel reports. The firm owned 106,400 shares of the technology company’s stock after selling 21,900 shares during the period. Cullinan Associates Inc.’s holdings in Square were worth $3,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in SQ. Riverhead Capital Management LLC acquired a new stake in shares of Square during the second quarter worth $149,000. Hudock Capital Group LLC acquired a new stake in shares of Square during the third quarter worth $157,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Square by 19.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after buying an additional 1,099 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Square during the third quarter worth $205,000. Finally, Northeast Investment Management acquired a new stake in shares of Square during the third quarter worth $205,000. 54.21% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on SQ shares. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, October 3rd. Barclays boosted their price target on Square from $28.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, November 9th. Stephens reaffirmed a “buy” rating and issued a $41.00 price target on shares of Square in a research note on Wednesday, January 10th. Vetr downgraded Square from a “buy” rating to a “hold” rating and set a $31.08 price target for the company. in a research note on Wednesday, October 4th. Finally, Wells Fargo & Co started coverage on Square in a research note on Tuesday, November 21st. They issued a “market perform” rating and a $42.00 price target for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Square presently has an average rating of “Buy” and an average target price of $35.37.

Square Inc (SQ) traded up $0.74 during trading on Wednesday, reaching $40.06. The company’s stock had a trading volume of 10,945,770 shares, compared to its average volume of 17,340,000. Square Inc has a 1 year low of $13.84 and a 1 year high of $49.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81. The company has a market capitalization of $15,570.00 and a PE ratio of -235.65.

Square (NYSE:SQ) last released its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The firm had revenue of $257.12 million for the quarter, compared to analysts’ expectations of $244.95 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The business’s revenue for the quarter was up 44.6% on a year-over-year basis. research analysts forecast that Square Inc will post -0.15 earnings per share for the current year.

In other news, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $47.24, for a total transaction of $1,814,016.00. Following the sale, the chief financial officer now directly owns 355,566 shares in the company, valued at $16,796,937.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ajmere Dale sold 1,451 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $40.00, for a total value of $58,040.00. Following the sale, the insider now owns 109,586 shares in the company, valued at $4,383,440. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,231,132 shares of company stock worth $47,702,154. Company insiders own 32.68% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Square (NYSE:SQ)

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