Caxton Associates LP acquired a new position in Square, Inc. (NYSE:SQ) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,827 shares of the technology company’s stock, valued at approximately $415,000.
Several other hedge funds also recently bought and sold shares of SQ. Rockbridge Investment Management LCC increased its position in shares of Square by 156.0% in the fourth quarter. Rockbridge Investment Management LCC now owns 128 shares of the technology company’s stock worth $28,000 after purchasing an additional 78 shares during the last quarter. Retirement Group LLC bought a new position in Square during the fourth quarter valued at approximately $29,000. Wagner Wealth Management LLC bought a new position in Square during the first quarter valued at approximately $30,000. Childress Capital Advisors LLC bought a new position in Square during the fourth quarter valued at approximately $32,000. Finally, TCI Wealth Advisors Inc. grew its position in Square by 41.9% during the first quarter. TCI Wealth Advisors Inc. now owns 149 shares of the technology company’s stock valued at $34,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 62.66% of the company’s stock.
In other news, CFO Amrita Ahuja sold 4,994 shares of Square stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $243.80, for a total transaction of $1,217,537.20. Following the transaction, the chief financial officer now directly owns 147,873 shares of the company’s stock, valued at approximately $36,051,437.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jack Dorsey sold 100,000 shares of Square stock in a transaction dated Monday, May 17th. The shares were sold at an average price of $201.98, for a total value of $20,198,000.00. The disclosure for this sale can be found here. Insiders sold 973,985 shares of company stock worth $222,515,001 over the last three months. Insiders own 15.12% of the company’s stock.
Square (NYSE:SQ) last announced its earnings results on Thursday, May 6th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.45. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Square had a return on equity of 9.32% and a net margin of 2.72%. The business’s revenue for the quarter was up 266.4% on a year-over-year basis. During the same period last year, the firm posted ($0.02) earnings per share. On average, equities research analysts anticipate that Square, Inc. will post 0.49 EPS for the current year.
SQ has been the topic of a number of recent research reports. Rosenblatt Securities increased their price target on shares of Square from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, May 7th. KeyCorp increased their price objective on Square from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, May 5th. Credit Suisse Group increased their price objective on Square from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, May 7th. Needham & Company LLC increased their price objective on Square from $300.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, April 13th. Finally, Zacks Investment Research lowered Square from a “hold” rating to a “sell” rating and set a $254.00 price objective for the company. in a research note on Tuesday, July 13th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have issued a buy rating to the company. Square presently has an average rating of “Buy” and an average target price of $252.74.
Square Company 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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