Square, Inc. (SQ) Shares Sold by Nvwm LLC
Nvwm LLC lowered its position in shares of Square, Inc. (NYSE:SQ) by 32.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,149 shares of the technology company’s stock after selling 4,444 shares during the quarter. Nvwm LLC’s holdings in Square were worth $685,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of SQ. Jennison Associates LLC lifted its position in Square by 34.3% in the 4th quarter. Jennison Associates LLC now owns 9,663,722 shares of the technology company’s stock valued at $542,038,000 after acquiring an additional 2,470,434 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in Square by 45.3% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 4,238,388 shares of the technology company’s stock valued at $237,731,000 after buying an additional 1,321,321 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Square by 4,800.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,698,238 shares of the technology company’s stock valued at $66,000 after buying an additional 3,622,766 shares during the last quarter. Norges Bank purchased a new stake in Square in the 4th quarter valued at about $141,059,000. Finally, American Century Companies Inc. increased its stake in Square by 35.6% in the 4th quarter. American Century Companies Inc. now owns 2,101,900 shares of the technology company’s stock valued at $117,896,000 after buying an additional 552,267 shares during the last quarter. 52.12% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Ajmere Dale sold 2,658 shares of Square stock in a transaction on Monday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $199,296.84. Following the completion of the sale, the insider now directly owns 74,526 shares of the company’s stock, valued at approximately $5,587,959.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alyssa Henry sold 20,000 shares of Square stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $64.20, for a total transaction of $1,284,000.00. Following the sale, the insider now directly owns 459,793 shares of the company’s stock, valued at $29,518,710.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 611,523 shares of company stock valued at $45,975,201. Insiders own 21.79% of the company’s stock.
Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.09). Square had a negative net margin of 1.47% and a positive return on equity of 1.86%. The firm had revenue of $489.00 million during the quarter, compared to the consensus estimate of $479.63 million. During the same period in the previous year, the business earned $0.06 earnings per share. The firm’s revenue for the quarter was up 59.3% on a year-over-year basis. Equities research analysts expect that Square, Inc. will post 0.15 EPS for the current fiscal year.
SQ has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Square from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. SunTrust Banks decreased their price target on shares of Square to $65.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. ValuEngine lowered shares of Square from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Macquarie initiated coverage on shares of Square in a research note on Wednesday, March 27th. They set an “outperform” rating and a $94.00 price target for the company. Finally, Jefferies Financial Group raised their price target on shares of Square to $73.00 and gave the stock a “hold” rating in a research note on Thursday, February 28th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Square has a consensus rating of “Hold” and an average price target of $86.14.
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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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