GSA Capital Partners LLP Purchases New Position in Square, Inc. (NYSE:SQ)
GSA Capital Partners LLP acquired a new position in Square, Inc. (NYSE:SQ) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,711 shares of the technology company’s stock, valued at approximately $278,000.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Creative Financial Designs Inc. ADV increased its position in Square by 4.6% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,284 shares of the technology company’s stock worth $209,000 after buying an additional 56 shares during the last quarter. Atticus Wealth Management LLC increased its holdings in shares of Square by 12.7% during the 3rd quarter. Atticus Wealth Management LLC now owns 648 shares of the technology company’s stock valued at $105,000 after acquiring an additional 73 shares during the last quarter. Partnervest Advisory Services LLC increased its holdings in shares of Square by 2.3% during the 3rd quarter. Partnervest Advisory Services LLC now owns 3,596 shares of the technology company’s stock valued at $585,000 after acquiring an additional 82 shares during the last quarter. Strategic Advisors LLC raised its stake in shares of Square by 4.3% in the 3rd quarter. Strategic Advisors LLC now owns 2,117 shares of the technology company’s stock valued at $383,000 after acquiring an additional 87 shares in the last quarter. Finally, FCG Advisors LLC lifted its holdings in Square by 2.3% in the 2nd quarter. FCG Advisors LLC now owns 4,360 shares of the technology company’s stock worth $458,000 after purchasing an additional 100 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director James Morgan Jr. Mckelvey sold 200,000 shares of Square stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $153.93, for a total value of $30,786,000.00. Following the completion of the sale, the director now directly owns 279,446 shares in the company, valued at $43,015,122.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Ajmere Dale sold 3,880 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $153.03, for a total value of $593,756.40. Following the sale, the chief accounting officer now directly owns 43,310 shares of the company’s stock, valued at $6,627,729.30. The disclosure for this sale can be found here. In the last three months, insiders sold 781,819 shares of company stock valued at $136,009,974. 21.79% of the stock is currently owned by company insiders.
Square (NYSE:SQ) last issued its quarterly earnings data on Thursday, November 5th. The technology company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.18. Square had a net margin of 5.15% and a negative return on equity of 1.20%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The company’s revenue was up 139.6% on a year-over-year basis. On average, analysts anticipate that Square, Inc. will post -0.23 EPS for the current fiscal year.
A number of brokerages have recently weighed in on SQ. Royal Bank of Canada boosted their price objective on shares of Square from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, October 16th. Zacks Investment Research lowered shares of Square from a “buy” rating to a “hold” rating and set a $208.00 target price for the company. in a research report on Monday, November 9th. Barclays raised their price target on Square from $185.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. Mizuho boosted their price objective on Square from $225.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, 140166 raised their target price on Square from $180.00 to $195.00 and gave the company a “positive” rating in a report on Monday, October 5th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $153.43.
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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