TB Alternative Assets Ltd. Boosts Stake in Square, Inc. (NYSE:SQ)

TB Alternative Assets Ltd. grew its position in shares of Square, Inc. (NYSE:SQ) by 109.5% during the third quarter, Holdings Channel reports. The fund owned 63,700 shares of the technology company’s stock after purchasing an additional 33,300 shares during the period. Square makes up about 1.6% of TB Alternative Assets Ltd.’s holdings, making the stock its 17th biggest holding. TB Alternative Assets Ltd.’s holdings in Square were worth $10,354,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SQ. Fir Tree Capital Management LP purchased a new position in Square in the 2nd quarter worth approximately $9,078,000. Coatue Management LLC grew its holdings in Square by 31.0% in the second quarter. Coatue Management LLC now owns 4,326,261 shares of the technology company’s stock valued at $453,998,000 after purchasing an additional 1,022,563 shares during the last quarter. Dragoneer Investment Group LLC grew its holdings in Square by 7.7% in the second quarter. Dragoneer Investment Group LLC now owns 1,777,689 shares of the technology company’s stock valued at $186,551,000 after purchasing an additional 126,571 shares during the last quarter. FIL Ltd grew its holdings in Square by 1.5% in the second quarter. FIL Ltd now owns 1,717,523 shares of the technology company’s stock valued at $179,977,000 after purchasing an additional 25,589 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Square by 4.1% in the second quarter. Swiss National Bank now owns 1,403,295 shares of the technology company’s stock valued at $147,262,000 after purchasing an additional 55,900 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

In other Square news, CAO Ajmere Dale sold 3,880 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $153.03, for a total transaction of $593,756.40. Following the transaction, the chief accounting officer now directly owns 43,310 shares in the company, valued at approximately $6,627,729.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sivan Whiteley sold 4,028 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $134.04, for a total transaction of $539,913.12. Following the transaction, the insider now owns 138,776 shares in the company, valued at $18,601,535.04. The disclosure for this sale can be found here. Insiders sold 689,905 shares of company stock valued at $112,143,728 over the last 90 days. Insiders own 19.90% of the company’s stock.

Shares of SQ stock traded down $2.25 on Friday, hitting $186.35. The stock had a trading volume of 5,299,708 shares, compared to its average volume of 12,865,664. The firm has a market capitalization of $82.65 billion, a price-to-earnings ratio of 300.56 and a beta of 2.72. The stock’s 50 day moving average is $159.98 and its 200-day moving average is $113.19. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.70 and a current ratio of 1.70. Square, Inc. has a 52-week low of $32.33 and a 52-week high of $193.44.

Square (NYSE:SQ) last announced its earnings results on Tuesday, August 4th. The technology company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.41. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.13 billion. Square had a net margin of 5.15% and a negative return on equity of 1.20%. The business’s quarterly revenue was up 63.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. Equities analysts expect that Square, Inc. will post -0.27 earnings per share for the current year.

SQ has been the topic of several research reports. Morgan Stanley upped their target price on Square from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, August 4th. Rosenblatt Securities increased their price objective on Square from $136.00 to $181.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. CSFB increased their price objective on Square from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, September 28th. 140166 increased their price objective on Square from $180.00 to $195.00 and gave the company a “positive” rating in a research note on Monday, October 5th. Finally, Goldman Sachs Group initiated coverage on Square in a research note on Tuesday, July 14th. They set a “neutral” rating and a $133.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Square presently has an average rating of “Hold” and an average price target of $127.08.

About Square

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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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