Patriot Financial Group Insurance Agency LLC Purchases New Stake in Square, Inc. (SQ)

Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Square, Inc. (NYSE:SQ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,000 shares of the technology company’s stock, valued at approximately $297,000.

A number of other institutional investors also recently added to or reduced their stakes in SQ. Centaurus Financial Inc. purchased a new position in Square during the second quarter worth $100,000. Huntington National Bank increased its position in Square by 1,725.0% during the second quarter. Huntington National Bank now owns 1,825 shares of the technology company’s stock worth $112,000 after buying an additional 1,725 shares in the last quarter. Rehmann Capital Advisory Group increased its position in Square by 649.8% during the second quarter. Rehmann Capital Advisory Group now owns 2,317 shares of the technology company’s stock worth $143,000 after buying an additional 2,008 shares in the last quarter. Thompson Davis & CO. Inc. increased its position in Square by 736.7% during the second quarter. Thompson Davis & CO. Inc. now owns 2,510 shares of the technology company’s stock worth $155,000 after buying an additional 2,210 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Square during the third quarter worth $155,000. 51.63% of the stock is owned by institutional investors.

Shares of Square stock opened at $68.76 on Wednesday. Square, Inc. has a twelve month low of $34.14 and a twelve month high of $101.15. The firm has a market capitalization of $29.19 billion, a P/E ratio of -687.60 and a beta of 4.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.18 and a current ratio of 2.18.



Square (NYSE:SQ) last issued its earnings results on Wednesday, August 1st. The technology company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.14. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. The firm had revenue of $385.00 million for the quarter, compared to analysts’ expectations of $367.99 million. During the same quarter last year, the firm earned $0.07 earnings per share. The firm’s revenue for the quarter was up 60.4% compared to the same quarter last year. As a group, equities research analysts predict that Square, Inc. will post -0.04 EPS for the current year.

In other Square news, insider Sivan Whiteley sold 1,875 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $69.84, for a total value of $130,950.00. Following the transaction, the insider now directly owns 526,299 shares of the company’s stock, valued at $36,756,722.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alyssa Henry sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $72.42, for a total value of $5,431,500.00. Following the completion of the transaction, the insider now directly owns 519,544 shares in the company, valued at $37,625,376.48. The disclosure for this sale can be found here. Insiders sold 2,494,580 shares of company stock worth $200,646,493 in the last quarter. 27.99% of the stock is owned by insiders.

Several research firms have recently issued reports on SQ. SunTrust Banks raised their price objective on Square to $74.00 and gave the stock a “buy” rating in a report on Wednesday, October 17th. They noted that the move was a valuation call. Canaccord Genuity upgraded Square from a “hold” rating to a “buy” rating and raised their price objective for the stock from $60.00 to $90.00 in a report on Friday, October 12th. BTIG Research began coverage on Square in a report on Thursday, October 11th. They set a “sell” rating on the stock. Credit Suisse Group raised their price objective on Square from $81.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 10th. Finally, Goldman Sachs Group raised their price objective on Square from $77.00 to $108.00 and gave the stock a “buy” rating in a report on Monday, October 8th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $72.64.

Square Profile

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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