Raymond James Trust N.A. Purchases New Stake in Square, Inc. (SQ)

Raymond James Trust N.A. purchased a new position in shares of Square, Inc. (NYSE:SQ) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 2,266 shares of the technology company’s stock, valued at approximately $225,000.

A number of other institutional investors have also added to or reduced their stakes in SQ. Centaurus Financial Inc. acquired a new position in Square in the second quarter worth $100,000. Huntington National Bank boosted its holdings in Square by 1,725.0% in the second quarter. Huntington National Bank now owns 1,825 shares of the technology company’s stock worth $112,000 after purchasing an additional 1,725 shares during the period. Rehmann Capital Advisory Group boosted its holdings in Square by 649.8% in the second quarter. Rehmann Capital Advisory Group now owns 2,317 shares of the technology company’s stock worth $143,000 after purchasing an additional 2,008 shares during the period. Thompson Davis & CO. Inc. boosted its holdings in Square by 736.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,510 shares of the technology company’s stock worth $155,000 after purchasing an additional 2,210 shares during the period. Finally, Resources Investment Advisors Inc. boosted its holdings in Square by 54.4% in the second quarter. Resources Investment Advisors Inc. now owns 2,980 shares of the technology company’s stock worth $184,000 after purchasing an additional 1,050 shares during the period. 51.86% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE SQ opened at $74.07 on Friday. Square, Inc. has a fifty-two week low of $32.20 and a fifty-two week high of $101.15. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.99. The stock has a market cap of $30.77 billion, a P/E ratio of -740.70 and a beta of 4.34.

Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.14. Square had a negative net margin of 2.30% and a negative return on equity of 3.18%. The business had revenue of $385.00 million for the quarter, compared to analysts’ expectations of $367.99 million. During the same period in the previous year, the business earned $0.07 earnings per share. The company’s revenue was up 60.4% on a year-over-year basis. As a group, analysts predict that Square, Inc. will post -0.04 earnings per share for the current fiscal year.

In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $71.26, for a total value of $28,504,000.00. Following the sale, the director now directly owns 472,175 shares in the company, valued at $33,647,190.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sivan Whiteley sold 1,875 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $69.84, for a total transaction of $130,950.00. Following the completion of the sale, the insider now owns 526,299 shares in the company, valued at $36,756,722.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,991,545 shares of company stock worth $164,147,482. Company insiders own 27.99% of the company’s stock.

A number of research firms have issued reports on SQ. Credit Suisse Group raised their target price on Square from $81.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 10th. Guggenheim raised their target price on Square from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, August 29th. Stephens cut Square from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, June 26th. JPMorgan Chase & Co. raised their target price on Square to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 2nd. Finally, Buckingham Research raised their target price on Square from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $72.64.

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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Want to see what other hedge funds are holding SQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Square, Inc. (NYSE:SQ).

Institutional Ownership by Quarter for Square (NYSE:SQ)

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