Rational Advisors LLC Acquires New Holdings in Square, Inc. (SQ)
Rational Advisors LLC acquired a new stake in Square, Inc. (NYSE:SQ) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,027 shares of the technology company’s stock, valued at approximately $302,000.
Several other hedge funds have also recently bought and sold shares of SQ. Cavalier Investments LLC purchased a new position in Square in the fourth quarter worth $841,000. Capital Investment Advisory Services LLC acquired a new stake in Square in the 4th quarter worth about $47,000. Janney Montgomery Scott LLC boosted its stake in Square by 17.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 26,739 shares of the technology company’s stock worth $1,500,000 after buying an additional 3,886 shares during the last quarter. Xact Kapitalforvaltning AB boosted its stake in Square by 0.5% in the 4th quarter. Xact Kapitalforvaltning AB now owns 50,893 shares of the technology company’s stock worth $2,855,000 after buying an additional 247 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in Square by 11,275.7% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,998,253 shares of the technology company’s stock worth $112,082,000 after buying an additional 1,980,687 shares during the last quarter. 55.56% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on SQ shares. Mizuho raised their price target on Square from $75.00 to $85.00 in a research note on Thursday, February 28th. Cantor Fitzgerald reissued a “buy” rating and issued a $91.00 price target on shares of Square in a research note on Wednesday, February 27th. Canaccord Genuity reissued a “buy” rating and issued a $88.00 price target on shares of Square in a research note on Wednesday, February 27th. ValuEngine lowered Square from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target (down from $95.00) on shares of Square in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-one have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $86.14.
Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.09). The firm had revenue of $489.00 million during the quarter, compared to analyst estimates of $479.63 million. Square had a negative net margin of 1.47% and a positive return on equity of 1.86%. The business’s revenue for the quarter was up 59.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share. Sell-side analysts expect that Square, Inc. will post 0.15 EPS for the current fiscal year.
In related news, insider Jacqueline D. Reses sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $68.35, for a total transaction of $341,750.00. Following the sale, the insider now directly owns 413,593 shares in the company, valued at approximately $28,269,081.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ajmere Dale sold 2,658 shares of the firm’s 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 sale, the insider now owns 74,526 shares in the company, valued at $5,587,959.48. The disclosure for this sale can be found here. Insiders sold a total of 716,606 shares of company stock worth $54,179,892 over the last ninety days. Corporate insiders own 21.79% of the company’s stock.
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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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