Berkshire Capital Holdings Inc. purchased a new position in Square, Inc. (NYSE:SQ) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 107,700 shares of the technology company’s stock, valued at approximately $5,299,000. Square accounts for about 4.7% of Berkshire Capital Holdings Inc.’s portfolio, making the stock its 13th largest holding.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SQ. Stratos Wealth Partners LTD. grew its holdings in Square by 137.0% during the 1st quarter. Stratos Wealth Partners LTD. now owns 9,775 shares of the technology company’s stock valued at $481,000 after buying an additional 5,650 shares during the last quarter. Toronto Dominion Bank grew its holdings in Square by 24.0% during the 1st quarter. Toronto Dominion Bank now owns 18,403 shares of the technology company’s stock valued at $905,000 after buying an additional 3,558 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in Square during the 1st quarter valued at $266,000. Candriam Luxembourg S.C.A. acquired a new stake in Square during the 1st quarter valued at $3,461,000. Finally, Cetera Investment Advisers acquired a new stake in Square during the 1st quarter valued at $286,000. Institutional investors and hedge funds own 51.98% of the company’s stock.
Shares of Square opened at $55.55 on Friday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market capitalization of $21.89 billion, a P/E ratio of -555.50 and a beta of 4.24. Square, Inc. has a twelve month low of $21.93 and a twelve month high of $58.46.
Square (NYSE:SQ) last issued its earnings results on Wednesday, May 2nd. The technology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $307.00 million for the quarter, compared to analyst estimates of $293.07 million. Square had a negative return on equity of 7.03% and a negative net margin of 2.96%. The business’s quarterly revenue was up 50.5% on a year-over-year basis. During the same period last year, the company posted $0.05 EPS. equities research analysts expect 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 stock was sold at an average price of $45.18, for a total value of $677,700.00. Following the transaction, the insider now directly owns 599,961 shares of the company’s stock, valued at $27,106,237.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ajmere Dale sold 5,272 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $49.07, for a total value of $258,697.04. Following the completion of the transaction, the insider now directly owns 106,533 shares in the company, valued at $5,227,574.31. The disclosure for this sale can be found here. Insiders sold a total of 1,310,855 shares of company stock worth $67,150,508 over the last ninety days. Corporate insiders own 27.99% of the company’s stock.
A number of equities research analysts have commented on SQ shares. Needham & Company LLC increased their target price on Square from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. UBS increased their target price on Square to $47.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Vetr cut Square from a “strong-buy” rating to a “buy” rating and set a $51.48 target price on the stock. in a report on Tuesday, February 27th. Deutsche Bank increased their target price on Square from $37.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Monday, February 5th. Two investment 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 company. The stock has a consensus rating of “Buy” and an average target price of $46.51.
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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