DNB Asset Management AS Lowers Position in Square, Inc. (SQ)

DNB Asset Management AS trimmed its holdings in shares of Square, Inc. (NYSE:SQ) by 5.4% in the first quarter, HoldingsChannel reports. The firm owned 31,021 shares of the technology company’s stock after selling 1,787 shares during the quarter. DNB Asset Management AS’s holdings in Square were worth $2,324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SQ. Legacy Advisors LLC acquired a new stake in shares of Square in the 1st quarter valued at approximately $27,000. Pearl River Capital LLC acquired a new stake in shares of Square in the 4th quarter valued at approximately $28,000. Johnson Financial Group Inc. acquired a new stake in shares of Square in the 4th quarter valued at approximately $28,000. TCI Wealth Advisors Inc. boosted its holdings in shares of Square by 171.5% in the 4th quarter. TCI Wealth Advisors Inc. now owns 524 shares of the technology company’s stock valued at $29,000 after buying an additional 331 shares during the last quarter. Finally, Doyle Wealth Management acquired a new stake in Square during the 4th quarter valued at $29,000. 52.15% of the stock is owned by institutional investors and hedge funds.

In other Square news, CEO Jack Dorsey sold 103,035 shares of Square stock in a transaction dated Wednesday, January 23rd. The stock was sold at an average price of $69.87, for a total value of $7,199,055.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ajmere Dale sold 2,658 shares of Square stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $74.98, for a total value of $199,296.84. Following the completion of the transaction, the insider now owns 74,526 shares in the company, valued at approximately $5,587,959.48. The disclosure for this sale can be found here. Insiders sold 1,221,781 shares of company stock worth $91,290,610 in the last 90 days. 27.99% of the stock is owned by company insiders.

Shares of NYSE SQ opened at $73.49 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.80. Square, Inc. has a 52 week low of $43.72 and a 52 week high of $101.15. The firm has a market capitalization of $31.22 billion, a P/E ratio of 3,674.50, a P/E/G ratio of 20.53 and a beta of 3.64.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, February 27th. The technology company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.04. Square had a positive return on equity of 0.86% and a negative net margin of 1.17%. The company had revenue of $464.00 million for the quarter, compared to analysts’ expectations of $453.88 million. During the same quarter last year, the business earned $0.08 earnings per share. Square’s revenue was up 64.0% on a year-over-year basis. As a group, equities analysts anticipate that Square, Inc. will post 0.15 EPS for the current year.

Several equities research analysts have issued reports on SQ shares. Tigress Financial reaffirmed a “buy” rating on shares of Square in a report on Wednesday, December 19th. Piper Jaffray Companies cut their price target on Square from $92.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, December 21st. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Wednesday, January 2nd. Wolfe Research upgraded Square from a “market perform” rating to an “outperform” rating in a research report on Friday, January 4th. Finally, Nomura increased their price objective on Square from $107.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, January 8th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $84.82.

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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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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