Castle Rock Wealth Management LLC acquired a new stake in shares of Square, Inc. (NYSE:SQ) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 6,098 shares of the technology company’s stock, valued at approximately $376,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of 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 position in shares of 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. Whale Rock Capital Management LLC purchased a new stake in shares of Square during the first quarter valued at $180,818,000. State Treasurer State of Michigan boosted its position in shares of Square by 82.2% during the first quarter. State Treasurer State of Michigan now owns 2,540,500 shares of the technology company’s stock valued at $124,993,000 after buying an additional 1,146,219 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in Square by 22.1% in the first quarter. Nomura Asset Management Co. Ltd. now owns 1,831,500 shares of the technology company’s stock worth $90,110,000 after purchasing an additional 331,300 shares during the last quarter. 51.95% of the stock is currently owned by institutional investors.

SQ has been the topic of several research reports. Wolfe Research initiated coverage on Square in a research report on Tuesday, July 17th. They issued a “market perform” rating on the stock. KeyCorp reissued an “overweight” rating and issued a $70.00 target price (up from $55.00) on shares of Square in a research report on Tuesday, June 19th. Deutsche Bank raised 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. SunTrust Banks raised their target price on Square from $45.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, June 29th. Finally, Stifel Nicolaus raised 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. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $60.89.

In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $61.56, for a total transaction of $24,624,000.00. Following the sale, the director now owns 468,223 shares of the company’s stock, valued at approximately $28,823,807.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline D. Reses sold 15,000 shares of Square stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $62.34, for a total value of $935,100.00. Following the sale, the insider now directly owns 559,200 shares in the company, valued at approximately $34,860,528. The disclosure for this sale can be found here. Insiders sold 1,650,980 shares of company stock worth $114,002,633 in the last ninety days. Corporate insiders own 27.99% of the company’s stock.

NYSE SQ opened at $91.25 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.18 and a current ratio of 2.18. Square, Inc. has a 52 week low of $25.24 and a 52 week high of $91.64. The stock has a market capitalization of $36.38 billion, a PE ratio of -912.50 and a beta of 4.35.

Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.13 EPS for the quarter, topping the 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 firm 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 company earned $0.07 earnings per share. The business’s revenue for the quarter was up 60.4% compared to the same quarter last year. equities analysts predict that Square, Inc. will post -0.04 EPS for the current fiscal year.

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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