CNH Partners LLC Invests $7.33 Million in Square, Inc. (NYSE:SQ) Stock

CNH Partners LLC acquired a new stake in Square, Inc. (NYSE:SQ) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 312,534 shares of the technology company’s stock, valued at approximately $7,332,000. CNH Partners LLC owned approximately 0.08% of Square at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in Square by 22.7% in the 1st quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after acquiring an additional 1,090 shares in the last quarter. Almanack Investment Partners LLC. bought a new position in Square in the 2nd quarter valued at approximately $117,000. Riverhead Capital Management LLC bought a new position in Square in the 2nd quarter valued at approximately $149,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Square by 19.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after acquiring an additional 1,099 shares in the last quarter. Finally, FNY Partners Fund LP lifted its position in Square by 55.4% in the 1st quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock valued at $174,000 after acquiring an additional 3,600 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Sarah Friar sold 19,200 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $25.54, for a total value of $490,368.00. Following the completion of the transaction, the chief financial officer now owns 366,103 shares in the company, valued at approximately $9,350,270.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total transaction of $10,008,000.00. Following the transaction, the director now owns 507,385 shares of the company’s stock, valued at $12,694,772.70. The disclosure for this sale can be found here. Insiders sold a total of 953,600 shares of company stock valued at $25,263,040 in the last quarter. Insiders own 32.68% of the company’s stock.

Shares of Square, Inc. (SQ) traded down 0.87% on Tuesday, hitting $32.93. 2,193,909 shares of the company were exchanged. The firm’s 50-day moving average is $28.42 and its 200-day moving average is $23.89. Square, Inc. has a 52-week low of $10.88 and a 52-week high of $33.31. The stock’s market capitalization is $12.64 billion.

Square (NYSE:SQ) last released its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $228.64 million. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The business’s revenue was up 40.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) EPS. Equities research analysts predict that Square, Inc. will post $0.24 earnings per share for the current year.

SQ has been the subject of a number of research reports. Bank of America Corporation initiated coverage on shares of Square in a research note on Tuesday, September 12th. They set a “neutral” rating for the company. Vetr upgraded shares of Square from a “buy” rating to a “strong-buy” rating and set a $26.28 target price for the company in a research note on Tuesday, July 4th. Citigroup Inc. boosted their target price on shares of Square from $23.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 6th. Cantor Fitzgerald initiated coverage on shares of Square in a research note on Tuesday, September 12th. They set an “overweight” rating and a $31.00 target price for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $29.00 target price (up from $23.00) on shares of Square in a research note on Sunday, July 30th. Twelve investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $26.27.

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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.

Institutional Ownership by Quarter for Square (NYSE:SQ)

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