Gulf International Bank UK Ltd Has $3.88 Million Stake in Square, Inc. (SQ)

Gulf International Bank UK Ltd reduced its stake in Square, Inc. (NYSE:SQ) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,900 shares of the technology company’s stock after selling 1,100 shares during the period. Gulf International Bank UK Ltd’s holdings in Square were worth $3,881,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Square by 18.4% in the fourth quarter. BlackRock Inc. now owns 13,005,859 shares of the technology company’s stock worth $450,913,000 after acquiring an additional 2,024,019 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Square by 20.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,347,685 shares of the technology company’s stock worth $213,906,000 after acquiring an additional 752,364 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in shares of Square by 7.4% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,153,187 shares of the technology company’s stock worth $143,990,000 after acquiring an additional 284,712 shares during the period. State Treasurer State of Michigan boosted its holdings in shares of Square by 82.2% in the first quarter. State Treasurer State of Michigan now owns 2,540,500 shares of the technology company’s stock worth $124,993,000 after acquiring an additional 1,146,219 shares during the period. Finally, Jennison Associates LLC bought a new position in shares of Square in the fourth quarter worth $86,426,000. 51.98% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently issued reports on SQ. Deutsche Bank lifted their price objective on Square from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Stifel Nicolaus raised Square from a “hold” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $55.00 in a research note on Thursday, May 3rd. Susquehanna Bancshares lifted their price objective on Square from $43.00 to $51.00 and gave the company a “positive” rating in a research note on Monday, February 5th. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Monday, February 5th. Finally, Vetr raised Square from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Monday, February 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $45.78.

Square opened at $56.39 on Tuesday, according to MarketBeat.com. Square, Inc. has a twelve month low of $19.98 and a twelve month high of $58.46. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45. The stock has a market cap of $22.05 billion, a price-to-earnings ratio of -563.90 and a beta of 4.24.

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

In other news, insider Ajmere Dale sold 5,272 shares of Square stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $49.07, for a total value of $258,697.04. Following the transaction, the insider now owns 106,533 shares in the company, valued at $5,227,574.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jacqueline D. Reses sold 15,000 shares of Square stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $45.18, for a total value of $677,700.00. Following the completion of the transaction, the insider now owns 599,961 shares in the company, valued at approximately $27,106,237.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,310,855 shares of company stock worth $67,150,508. Company insiders own 27.99% of the company’s stock.

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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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