Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Square, Inc. (NYSE:SQ) by 22.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,400 shares of the technology company’s stock after acquiring an additional 800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Square were worth $462,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Balentine LLC bought a new position in Square in the 1st quarter valued at $25,000. Shine Investment Advisory Services Inc. boosted its position in Square by 316.7% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 500 shares of the technology company’s stock valued at $26,000 after buying an additional 380 shares during the last quarter. Americana Partners LLC bought a new position in Square in the 4th quarter valued at $29,000. Atticus Wealth Management LLC boosted its position in Square by 114.5% in the 1st quarter. Atticus Wealth Management LLC now owns 562 shares of the technology company’s stock valued at $29,000 after buying an additional 300 shares during the last quarter. Finally, FinTrust Capital Advisors LLC boosted its position in Square by 484.4% in the 1st quarter. FinTrust Capital Advisors LLC now owns 561 shares of the technology company’s stock valued at $29,000 after buying an additional 465 shares during the last quarter. Institutional investors and hedge funds own 62.71% of the company’s stock.
In related news, CAO Ajmere Dale sold 2,000 shares of Square stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $100.00, for a total transaction of $200,000.00. Following the completion of the transaction, the chief accounting officer now owns 49,315 shares in the company, valued at $4,931,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sivan Whiteley sold 2,013 shares of Square stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $107.00, for a total value of $215,391.00. Following the transaction, the insider now owns 140,989 shares of the company’s stock, valued at approximately $15,085,823. The disclosure for this sale can be found here. Insiders have sold 48,574 shares of company stock valued at $3,473,975 in the last quarter. 21.79% of the stock is currently owned by corporate insiders.
Square (NYSE:SQ) last released its earnings results on Wednesday, May 6th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.30 billion. Square had a net margin of 5.99% and a return on equity of 0.44%. Square’s revenue was up 44.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) EPS. As a group, equities analysts predict that Square, Inc. will post -0.56 earnings per share for the current fiscal year.
A number of research analysts have commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $121.00 price objective on shares of Square in a research report on Wednesday. Oppenheimer assumed coverage on Square in a research report on Wednesday, May 6th. They issued a “hold” rating on the stock. Raymond James lowered Square from a “market perform” rating to an “underperform” rating in a research report on Thursday, April 16th. Piper Sandler assumed coverage on Square in a research report on Monday. They issued a “neutral” rating and a $131.00 price target on the stock. Finally, Compass Point lowered Square from a “neutral” rating to a “sell” rating and set a $50.00 price target on the stock. in a research report on Tuesday, April 28th. Six analysts have rated the stock with a sell rating, twenty have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Square presently has an average rating of “Hold” and an average target price of $81.20.
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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