Cullinan Associates Inc. Cuts Holdings in Square Inc (SQ)

Cullinan Associates Inc. cut its holdings in shares of Square Inc (NYSE:SQ) by 17.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,400 shares of the technology company’s stock after selling 21,900 shares during the period. Cullinan Associates Inc.’s holdings in Square were worth $3,689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Atlantic Trust Group LLC acquired a new stake in shares of Square in the 3rd quarter valued at approximately $1,143,000. California Public Employees Retirement System raised its position in shares of Square by 10.3% in the 2nd quarter. California Public Employees Retirement System now owns 353,700 shares of the technology company’s stock valued at $8,298,000 after acquiring an additional 33,100 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Square by 1,407.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 696,007 shares of the technology company’s stock valued at $20,052,000 after acquiring an additional 649,841 shares during the period. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Square in the 3rd quarter valued at approximately $36,574,000. Finally, California State Teachers Retirement System raised its position in shares of Square by 285.7% in the 2nd quarter. California State Teachers Retirement System now owns 395,757 shares of the technology company’s stock valued at $9,284,000 after acquiring an additional 293,137 shares during the period. Institutional investors own 54.21% of the company’s stock.

In related news, insider Hillary B. Smith sold 3,459 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $38.95, for a total value of $134,728.05. Following the completion of the transaction, the insider now directly owns 641,154 shares of the company’s stock, valued at $24,972,948.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ajmere Dale sold 1,451 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $40.00, for a total transaction of $58,040.00. Following the completion of the transaction, the insider now directly owns 109,586 shares of the company’s stock, valued at $4,383,440. The disclosure for this sale can be found here. Insiders have sold a total of 1,231,132 shares of company stock valued at $47,702,154 over the last ninety days. Company insiders own 32.68% of the company’s stock.

Shares of Square Inc (NYSE:SQ) traded up $0.74 on Wednesday, hitting $40.06. 10,945,770 shares of the stock traded hands, compared to its average volume of 17,340,000. The company has a market cap of $15,570.00 and a PE ratio of -235.65. Square Inc has a one year low of $13.84 and a one year high of $49.56. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $257.12 million during the quarter, compared to analysts’ expectations of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The business’s quarterly revenue was up 44.6% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. equities research analysts forecast that Square Inc will post -0.15 EPS for the current year.

A number of brokerages recently weighed in on SQ. Zacks Investment Research downgraded shares of Square from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Stephens reiterated a “buy” rating and issued a $41.00 price target on shares of Square in a research report on Wednesday, January 10th. KeyCorp increased their price target on shares of Square from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, October 3rd. Royal Bank of Canada reissued a “buy” rating and set a $31.00 target price on shares of Square in a research note on Sunday, October 8th. Finally, Barclays reissued a “buy” rating and set a $43.00 target price on shares of Square in a research note on Friday, January 5th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $35.37.

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Square Company Profile

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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