Sciencast Management LP Purchases Shares of 12,182 Square Inc (NYSE:SQ)

Sciencast Management LP purchased a new position in shares of Square Inc (NYSE:SQ) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,182 shares of the technology company’s stock, valued at approximately $547,000.

A number of other institutional investors have also made changes to their positions in the stock. Ark Investment Management LLC raised its stake in shares of Square by 18.2% in the 2nd quarter. Ark Investment Management LLC now owns 288,524 shares of the technology company’s stock valued at $6,769,000 after purchasing an additional 44,524 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Square by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,706 shares of the technology company’s stock valued at $274,000 after purchasing an additional 921 shares in the last quarter. Aperio Group LLC raised its stake in shares of Square by 25.7% in the 3rd quarter. Aperio Group LLC now owns 12,041 shares of the technology company’s stock valued at $347,000 after purchasing an additional 2,460 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Square by 111.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 143,724 shares of the technology company’s stock valued at $4,141,000 after purchasing an additional 75,627 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its stake in shares of Square by 12.0% in the 3rd quarter. State of Wisconsin Investment Board now owns 49,554 shares of the technology company’s stock valued at $1,428,000 after purchasing an additional 5,302 shares in the last quarter. 52.06% of the stock is owned by hedge funds and other institutional investors.

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In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $39.79, for a total transaction of $15,916,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ajmere Dale sold 5,272 shares of Square stock in a transaction dated 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 directly owns 106,533 shares of the company’s stock, valued at $5,227,574.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,372,655 shares of company stock worth $62,988,834. 32.68% of the stock is owned by company insiders.

SQ has been the topic of several research reports. Nomura reiterated a “buy” rating and set a $64.00 price objective (up previously from $48.00) on shares of Square in a research note on Friday, January 19th. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Monday, February 5th. Barclays restated a “buy” rating and issued a $43.00 price target on shares of Square in a research note on Friday, January 5th. Susquehanna Bancshares raised their price target on shares of Square from $43.00 to $51.00 and gave the company a “positive” rating in a research note on Monday, February 5th. Finally, Vetr upgraded shares of Square from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Monday, February 5th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Square has an average rating of “Buy” and an average target price of $43.85.

NYSE SQ opened at $45.87 on Friday. 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 Inc has a 52-week low of $16.66 and a 52-week high of $58.46. The firm has a market capitalization of $18,894.29, a price-to-earnings ratio of -458.70 and a beta of 4.21.

Square (NYSE:SQ) last issued its earnings results on Tuesday, February 27th. The technology company reported $0.08 earnings per share 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 business had revenue of $616.04 million for the quarter, compared to analyst estimates of $601.63 million. research analysts forecast that Square Inc will post 0.02 EPS for the current fiscal year.

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Square 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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