Square, Inc. (SQ) Stake Lessened by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt cut its holdings in Square, Inc. (NYSE:SQ) by 53.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,600 shares of the technology company’s stock after selling 3,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Square were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Square by 8.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,700,722 shares of the technology company’s stock valued at $289,753,000 after purchasing an additional 353,037 shares during the period. Nikko Asset Management Americas Inc. grew its holdings in Square by 8.5% during the second quarter. Nikko Asset Management Americas Inc. now owns 3,715,894 shares of the technology company’s stock valued at $229,048,000 after purchasing an additional 290,136 shares during the period. Janus Henderson Group PLC grew its holdings in Square by 8.7% during the second quarter. Janus Henderson Group PLC now owns 1,756,402 shares of the technology company’s stock valued at $108,265,000 after purchasing an additional 140,800 shares during the period. Northern Trust Corp grew its holdings in Square by 10.0% during the second quarter. Northern Trust Corp now owns 1,681,310 shares of the technology company’s stock valued at $103,635,000 after purchasing an additional 153,458 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC grew its holdings in Square by 25.0% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,532,546 shares of the technology company’s stock valued at $94,466,000 after purchasing an additional 306,119 shares during the period. 51.63% of the stock is owned by institutional investors.

In other Square news, insider Ajmere Dale sold 4,096 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $89.99, for a total transaction of $368,599.04. Following the sale, the insider now owns 93,255 shares in the company, valued at $8,392,017.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sivan Whiteley sold 5,224 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $99.41, for a total value of $519,317.84. Following the sale, the insider now owns 490,344 shares in the company, valued at approximately $48,745,097.04. The disclosure for this sale can be found here. Insiders sold 2,492,705 shares of company stock worth $200,515,543 in the last quarter. 27.99% of the stock is currently owned by company insiders.

Shares of SQ stock opened at $76.74 on Friday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.99. Square, Inc. has a 52-week low of $34.14 and a 52-week high of $101.15. The firm has a market capitalization of $28.22 billion, a P/E ratio of -767.40 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.14. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. The company had revenue of $385.00 million for the quarter, compared to the consensus estimate of $367.99 million. During the same quarter last year, the business posted $0.07 earnings per share. The firm’s revenue was up 60.4% compared to the same quarter last year. On average, analysts predict that Square, Inc. will post -0.04 EPS for the current year.

SQ has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on Square from $45.00 to $46.00 and gave the company a “$71.60” rating in a report on Monday, July 23rd. Needham & Company LLC increased their target price on Square from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Stifel Nicolaus increased their target price on Square from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Deutsche Bank increased their target price on Square from $57.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Finally, Guggenheim restated a “buy” rating and set a $73.00 target price on shares of Square in a research report on Friday, July 13th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Square presently has an average rating of “Hold” and a consensus price target of $72.64.

Square 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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