Public Employees Retirement Association of Colorado cut its holdings in shares of Square Inc (NYSE:SQ) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 669,361 shares of the technology company’s stock after selling 77,724 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.17% of Square worth $19,284,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Makena Capital Management LLC acquired a new stake in Square during the second quarter valued at approximately $4,561,000. California Public Employees Retirement System lifted its stake in Square by 10.3% during the second quarter. California Public Employees Retirement System now owns 353,700 shares of the technology company’s stock valued at $8,298,000 after purchasing an additional 33,100 shares during the last quarter. Royce & Associates LP lifted its stake in Square by 55.6% during the second quarter. Royce & Associates LP now owns 235,000 shares of the technology company’s stock valued at $5,513,000 after purchasing an additional 84,000 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in Square by 2.9% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,190,200 shares of the technology company’s stock valued at $74,842,000 after purchasing an additional 90,200 shares during the last quarter. Finally, Allen Operations LLC raised its holdings in shares of Square by 7.2% during the second quarter. Allen Operations LLC now owns 210,825 shares of the technology company’s stock valued at $4,946,000 after acquiring an additional 14,228 shares during the period. 54.04% of the stock is owned by institutional investors and hedge funds.

Square (NYSE:SQ) last issued its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The business had revenue of $240.00 million for the quarter, compared to the consensus estimate of $228.64 million. Square had a negative net margin of 2.89% and a negative return on equity of 9.62%. The firm’s revenue for the quarter was up 40.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) earnings per share.

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SQ has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, October 3rd. KeyCorp restated an “overweight” rating on shares of Square in a report on Tuesday, July 18th. Barclays PLC restated an “overweight” rating and set a $28.00 price target (up previously from $21.00) on shares of Square in a report on Wednesday, August 9th. Canaccord Genuity restated a “hold” rating and set a $26.00 price target (up previously from $18.00) on shares of Square in a report on Wednesday, August 9th. Finally, Credit Suisse Group restated a “neutral” rating and set a $26.00 price target (up previously from $25.00) on shares of Square in a report on Wednesday, August 9th. Twelve analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Square presently has a consensus rating of “Buy” and a consensus price target of $28.14.

In other Square news, CFO Sarah Friar sold 19,200 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $25.54, for a total value of $490,368.00. Following the transaction, the chief financial officer now directly owns 366,103 shares in the company, valued at $9,350,270.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total transaction of $10,008,000.00. Following the completion of the transaction, the director now owns 507,385 shares in the company, valued at $12,694,772.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,353,600 shares of company stock worth $38,351,040. 32.68% of the stock is owned by corporate insiders.

Square Profile

Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.

Institutional Ownership by Quarter for Square (NYSE:SQ)

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