Engineers Gate Manager LP Sells 29,191 Shares of Square, Inc. (SQ)

Engineers Gate Manager LP reduced its stake in Square, Inc. (NYSE:SQ) by 49.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,836 shares of the technology company’s stock after selling 29,191 shares during the period. Engineers Gate Manager LP’s holdings in Square were worth $1,468,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BB&T Securities LLC increased its holdings in Square by 16.6% in the 4th quarter. BB&T Securities LLC now owns 10,902 shares of the technology company’s stock valued at $377,000 after purchasing an additional 1,550 shares in the last quarter. US Bancorp DE increased its holdings in Square by 20.2% in the 4th quarter. US Bancorp DE now owns 10,251 shares of the technology company’s stock valued at $355,000 after purchasing an additional 1,724 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in Square by 78.8% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 4,946 shares of the technology company’s stock valued at $243,000 after purchasing an additional 2,180 shares in the last quarter. Alps Advisors Inc. increased its holdings in Square by 23.8% in the 1st quarter. Alps Advisors Inc. now owns 11,720 shares of the technology company’s stock valued at $577,000 after purchasing an additional 2,254 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its holdings in Square by 1.7% in the 4th quarter. Tocqueville Asset Management L.P. now owns 151,500 shares of the technology company’s stock valued at $5,253,000 after purchasing an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 53.98% of the company’s stock.

Shares of Square opened at $55.04 on Friday, MarketBeat Ratings reports. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45. Square, Inc. has a one year low of $19.73 and a one year high of $58.46. The stock has a market cap of $21.97 billion, a PE ratio of -550.40 and a beta of 4.24.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. Square had a negative net margin of 2.96% and a negative return on equity of 7.03%. The business had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $293.07 million. During the same quarter last year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 50.5% compared to the same quarter last year. analysts anticipate that Square, Inc. will post 0.01 EPS for the current year.

In other Square news, insider Jacqueline D. Reses sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $45.18, for a total value of $677,700.00. Following the transaction, the insider now owns 599,961 shares of the company’s stock, valued at $27,106,237.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $55.13, for a total transaction of $22,052,000.00. Following the completion of the transaction, the director now directly owns 468,223 shares in the company, valued at approximately $25,813,133.99. The disclosure for this sale can be found here. Insiders sold 1,710,855 shares of company stock worth $85,414,508 in the last three months. 32.68% of the stock is currently owned by corporate insiders.

Several analysts have recently weighed in on SQ shares. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Tuesday, January 23rd. Vetr upgraded Square from a “hold” rating to a “buy” rating and set a $58.39 target price for the company in a research note on Monday, March 26th. Cantor Fitzgerald restated an “overweight” rating and set a $51.00 target price (up from $41.00) on shares of Square in a research note on Wednesday, February 28th. ValuEngine upgraded Square from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, Credit Suisse Group raised their target price on Square from $37.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, ten have assigned 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 $45.78.

About Square

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.

Institutional Ownership by Quarter for Square (NYSE:SQ)

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