Square, Inc. (SQ) Stake Decreased by Chicago Equity Partners LLC

Chicago Equity Partners LLC decreased its holdings in Square, Inc. (NYSE:SQ) by 55.4% in the third quarter, HoldingsChannel.com reports. The fund owned 28,205 shares of the technology company’s stock after selling 35,003 shares during the quarter. Chicago Equity Partners LLC’s holdings in Square were worth $2,793,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SQ. Sumitomo Mitsui Trust Holdings Inc. boosted its stake 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 buying an additional 353,037 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its stake 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 buying an additional 290,136 shares during the last quarter. Janus Henderson Group PLC boosted its stake 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 buying an additional 140,800 shares during the last quarter. Northern Trust Corp boosted its stake 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 buying an additional 153,458 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its stake 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 buying an additional 306,119 shares during the last quarter. 51.25% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on SQ shares. Wolfe Research started coverage on Square in a research note on Tuesday, July 17th. They issued a “market perform” rating for the company. Credit Suisse Group raised Square from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $44.00 to $81.00 in a research note on Thursday, July 19th. Morgan Stanley raised their price objective on Square from $43.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, July 19th. JPMorgan Chase & Co. raised their price objective on Square from $45.00 to $46.00 and gave the company a “$71.60” rating in a research note on Monday, July 23rd. Finally, Deutsche Bank raised their price objective on Square from $57.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $79.76.

In other Square news, CEO Jack Dorsey sold 103,035 shares of the firm’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $71.78, for a total transaction of $7,395,852.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alyssa Henry sold 75,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $72.42, for a total value of $5,431,500.00. Following the transaction, the insider now owns 519,544 shares in the company, valued at $37,625,376.48. The disclosure for this sale can be found here. Insiders have sold a total of 2,300,650 shares of company stock worth $187,755,700 over the last 90 days. 27.99% of the stock is currently owned by company insiders.

Shares of NYSE SQ opened at $73.27 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 fifty-two week low of $34.14 and a fifty-two week high of $101.15. The company has a market capitalization of $33.94 billion, a PE ratio of -732.70 and a beta of 4.30.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. Square had a negative return on equity of 1.18% and a negative net margin of 0.87%. The firm had revenue of $431.00 million for the quarter, compared to the consensus estimate of $414.19 million. During the same period in the prior year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 67.7% on a year-over-year basis. On average, equities research analysts anticipate that Square, Inc. will post -0.04 earnings per share for the current year.

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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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