Russell Investments Group Ltd. boosted its stake in Square, Inc. (NYSE:SQ) by 125.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 428,245 shares of the technology company’s stock after buying an additional 238,201 shares during the period. Russell Investments Group Ltd. owned about 0.11% of Square worth $10,047,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in shares of Square by 22.7% in the first quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after buying an additional 1,090 shares during the period. Glassman Wealth Services boosted its position in shares of Square by 1,987.3% in the first quarter. Glassman Wealth Services now owns 6,575 shares of the technology company’s stock valued at $114,000 after buying an additional 6,260 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Square during the first quarter valued at about $131,000. CENTRAL TRUST Co boosted its position in shares of Square by 683.7% in the second quarter. CENTRAL TRUST Co now owns 8,613 shares of the technology company’s stock valued at $203,000 after buying an additional 7,514 shares during the period. Finally, Aperio Group LLC purchased a new position in shares of Square during the second quarter valued at about $225,000. 68.74% of the stock is owned by institutional investors and hedge funds.
Square, Inc. (NYSE SQ) traded down 0.52% during midday trading on Tuesday, reaching $25.07. 2,997,050 shares of the company were exchanged. Square, Inc. has a 52 week low of $10.88 and a 52 week high of $27.97. The firm’s 50 day moving average price is $25.35 and its 200-day moving average price is $20.23. The stock’s market capitalization is $9.62 billion.
Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The firm had revenue of $240 million for the quarter, compared to analysts’ expectations of $228.64 million. During the same quarter last year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was up 40.4% compared to the same quarter last year. Equities analysts forecast that Square, Inc. will post $0.24 EPS for the current fiscal year.
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Several brokerages have issued reports on SQ. Credit Suisse Group reaffirmed a “neutral” rating and issued a $26.00 target price (up from $25.00) on shares of Square in a report on Wednesday, August 9th. Deutsche Bank AG reissued a “buy” rating and set a $28.00 price objective on shares of Square in a report on Wednesday, August 9th. Canaccord Genuity reissued a “hold” rating and set a $26.00 price objective (up from $18.00) on shares of Square in a report on Wednesday, August 9th. BidaskClub cut shares of Square from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $31.00 price objective (up from $24.00) on shares of Square in a report on Wednesday, August 9th. Eleven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.61.
In other Square news, Director James Morgan Jr. Mckelvey sold 90,000 shares of Square stock in a transaction on Monday, June 5th. The shares were sold at an average price of $23.36, for a total transaction of $2,102,400.00. Following the sale, the director now owns 186,308 shares of the company’s stock, valued at approximately $4,352,154.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sarah Friar sold 38,400 shares of Square stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $22.09, for a total transaction of $848,256.00. Following the sale, the chief financial officer now directly owns 375,023 shares in the company, valued at approximately $8,284,258.07. The disclosure for this sale can be found here. Insiders sold a total of 533,400 shares of company stock worth $12,412,380 in the last three months. 32.68% of the stock is owned by corporate insiders.
Square Company 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.
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