Level Four Advisory Services LLC purchased a new position in Square, Inc. (NYSE:SQ) during the first quarter, according to its most recent filing with the SEC. The institutional investor purchased 11,813 shares of the technology company’s stock, valued at approximately $199,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Square by 72.1% in the first quarter. Bank of New York Mellon Corp now owns 14,480,815 shares of the technology company’s stock valued at $250,229,000 after buying an additional 6,065,730 shares during the last quarter. FMR LLC raised its position in Square by 24.4% in the first quarter. FMR LLC now owns 11,124,126 shares of the technology company’s stock worth $192,225,000 after buying an additional 2,183,127 shares in the last quarter. Vanguard Group Inc. raised its position in Square by 2.3% in the first quarter. Vanguard Group Inc. now owns 10,975,970 shares of the technology company’s stock worth $189,665,000 after buying an additional 241,563 shares in the last quarter. Renaissance Technologies LLC raised its position in Square by 641.8% in the first quarter. Renaissance Technologies LLC now owns 8,578,500 shares of the technology company’s stock worth $148,236,000 after buying an additional 7,422,000 shares in the last quarter. Finally, BlackRock Inc. raised its position in Square by 7,162.2% in the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock worth $93,023,000 after buying an additional 5,309,197 shares in the last quarter. Hedge funds and other institutional investors own 76.83% of the company’s stock.
Square, Inc. (SQ) traded up 1.59% during midday trading on Friday, hitting $23.59. The stock had a trading volume of 3,423,880 shares. Square, Inc. has a one year low of $8.78 and a one year high of $24.97. The firm’s market cap is $8.83 billion. The stock has a 50-day moving average price of $22.69 and a 200 day moving average price of $17.72.
Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, May 3rd. The technology company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The firm had revenue of $461.55 million during the quarter, compared to analysts’ expectations of $450.66 million. Square had a negative return on equity of 15.81% and a negative net margin of 5.02%. On average, analysts predict that Square, Inc. will post ($0.19) earnings per share for the current year.
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A number of research firms have issued reports on SQ. Vetr raised shares of Square from a “buy” rating to a “strong-buy” rating and set a $26.28 price target for the company in a research report on Monday. Citigroup Inc. lifted their target price on shares of Square from $23.00 to $30.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Group LLC reissued a “buy” rating and issued a $28.00 price target on shares of Square in a research note on Thursday. Mizuho assumed coverage on shares of Square in a research note on Wednesday, June 28th. They set a “buy” rating and a $28.00 target price on the stock. Finally, Tigress Financial initiated coverage on shares of Square in a research note on Friday, May 19th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $20.86.
In other Square news, Director James Morgan Jr. Mckelvey sold 90,000 shares of the stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $16.78, for a total value of $1,510,200.00. Following the transaction, the director now directly owns 186,308 shares in the company, valued at approximately $3,126,248.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sarah Friar sold 38,400 shares of the stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $24.22, for a total value of $930,048.00. Following the completion of the transaction, the chief financial officer now directly owns 375,023 shares in the company, valued at approximately $9,083,057.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,767,738 shares of company stock valued at $34,785,364. Insiders own 32.68% of the company’s stock.
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.
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