Garrison Point Advisors LLC trimmed its stake in Square, Inc. (NYSE:SQ) by 2.5% in the fourth quarter, Holdings Channel reports. The firm owned 24,765 shares of the technology company’s stock after selling 645 shares during the quarter. Square comprises approximately 1.4% of Garrison Point Advisors LLC’s investment portfolio, making the stock its 25th biggest position. Garrison Point Advisors LLC’s holdings in Square were worth $1,549,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Square by 26.4% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,971,195 shares of the technology company’s stock valued at $493,816,000 after purchasing an additional 1,667,227 shares during the period. Nikko Asset Management Americas Inc. increased its position in Square by 32.9% during the third quarter. Nikko Asset Management Americas Inc. now owns 6,691,581 shares of the technology company’s stock worth $414,543,000 after buying an additional 1,656,927 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Square by 24.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,137,685 shares of the technology company’s stock worth $194,380,000 after buying an additional 620,149 shares during the last quarter. Gladstone Capital Management LLP raised its stake in Square by 48.0% in the third quarter. Gladstone Capital Management LLP now owns 1,640,230 shares of the technology company’s stock valued at $101,612,000 after buying an additional 531,722 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in Square by 44.1% in the third quarter. Eagle Asset Management Inc. now owns 1,051,147 shares of the technology company’s stock valued at $65,118,000 after buying an additional 321,803 shares during the period. Hedge funds and other institutional investors own 57.77% of the company’s stock.
Several research analysts have recently commented on SQ shares. UBS Group reiterated a “buy” rating and set a $77.00 target price (down from $81.00) on shares of Square in a research note on Friday, November 8th. Macquarie initiated coverage on Square in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $105.00 price target on the stock. Zacks Investment Research downgraded Square from a “buy” rating to a “hold” rating and set a $71.00 price target for the company. in a report on Thursday, January 9th. ValuEngine raised Square from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Finally, Nomura initiated coverage on shares of Square in a research report on Friday, October 11th. They set a “reduce” rating and a $49.00 price objective for the company. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $73.03.
NYSE SQ traded up $2.01 during trading on Friday, reaching $71.30. The company’s stock had a trading volume of 887,292 shares, compared to its average volume of 6,020,707. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $29.51 billion, a price-to-earnings ratio of -591.99, a price-to-earnings-growth ratio of 29.17 and a beta of 3.30. Square, Inc. has a 12 month low of $54.41 and a 12 month high of $83.20. The firm has a 50 day moving average price of $65.92 and a 200 day moving average price of $65.89.
Square (NYSE:SQ) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. Square had a negative net margin of 1.01% and a positive return on equity of 5.72%. The firm had revenue of $602.00 million for the quarter, compared to analyst estimates of $596.85 million. During the same quarter in the prior year, the business posted $0.13 EPS. The business’s revenue was up 39.7% compared to the same quarter last year. On average, equities analysts forecast that Square, Inc. will post 0.12 EPS for the current fiscal year.
In related news, insider Alyssa Henry sold 20,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.54, for a total value of $1,330,800.00. Following the transaction, the insider now owns 404,205 shares in the company, valued at $26,895,800.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline D. Reses sold 28,568 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $67.00, for a total value of $1,914,056.00. Following the completion of the transaction, the insider now owns 253,035 shares in the company, valued at approximately $16,953,345. The disclosure for this sale can be found here. Over the last quarter, insiders sold 241,743 shares of company stock valued at $15,546,094. 21.79% of the stock is currently owned by corporate insiders.
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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