Mackenzie Financial Corp bought a new stake in shares of Square Inc (NYSE:SQ) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,094 shares of the technology company’s stock, valued at approximately $281,000.
Other institutional investors have also made changes to their positions in the company. Allianz Asset Management GmbH lifted its position in shares of Square by 31.0% during the third quarter. Allianz Asset Management GmbH now owns 13,302,170 shares of the technology company’s stock worth $383,235,000 after purchasing an additional 3,147,558 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Square during the fourth quarter worth about $86,426,000. BlackRock Inc. lifted its position in shares of Square by 18.4% during the fourth quarter. BlackRock Inc. now owns 13,005,859 shares of the technology company’s stock worth $450,913,000 after purchasing an additional 2,024,019 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Square by 458.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,962,828 shares of the technology company’s stock worth $68,051,000 after purchasing an additional 1,611,446 shares during the last quarter. Finally, Whale Rock Capital Management LLC bought a new position in shares of Square during the third quarter worth about $44,337,000. Institutional investors own 52.06% of the company’s stock.
In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $39.79, for a total transaction of $15,916,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ajmere Dale sold 5,272 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $49.07, for a total transaction of $258,697.04. Following the transaction, the insider now owns 106,533 shares in the company, valued at approximately $5,227,574.31. The disclosure for this sale can be found here. Insiders sold 1,372,655 shares of company stock worth $62,988,834 in the last 90 days. 32.68% of the stock is owned by company insiders.
Shares of NYSE:SQ opened at $45.87 on Friday. Square Inc has a 52 week low of $16.66 and a 52 week high of $58.46. The company has a market capitalization of $18,894.29, a price-to-earnings ratio of -458.70 and a beta of 4.21. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.46.
Square (NYSE:SQ) last announced its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Square had a negative net margin of 2.84% and a negative return on equity of 6.60%. The company had revenue of $616.04 million for the quarter, compared to analyst estimates of $601.63 million. sell-side analysts predict that Square Inc will post 0.02 EPS for the current year.
Several equities analysts have recently commented on the stock. Stephens reaffirmed a “buy” rating and set a $41.00 price target on shares of Square in a research report on Wednesday, January 10th. Deutsche Bank increased their price target on shares of Square from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Susquehanna Bancshares increased their price target on shares of Square from $43.00 to $51.00 and gave the stock a “positive” rating in a research report on Monday, February 5th. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Monday, February 5th. Finally, Vetr raised shares of Square from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $43.85.
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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.
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