Northwestern Mutual Wealth Management Co. decreased its position in shares of Square Inc (NYSE:SQ) by 33.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,051 shares of the technology company’s stock after selling 1,561 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Square were worth $106,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of SQ. Atlantic Trust Group LLC bought a new position in shares of Square in the third quarter worth $1,143,000. Schwab Charles Investment Management Inc. increased its position in shares of Square by 1,407.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 696,007 shares of the technology company’s stock worth $20,052,000 after purchasing an additional 649,841 shares during the period. California Public Employees Retirement System increased its position in shares of Square by 4.1% in the third quarter. California Public Employees Retirement System now owns 368,151 shares of the technology company’s stock worth $10,606,000 after purchasing an additional 14,451 shares during the period. Kessler Investment Group LLC increased its position in shares of Square by 133.1% in the fourth quarter. Kessler Investment Group LLC now owns 11,725 shares of the technology company’s stock worth $407,000 after purchasing an additional 6,695 shares during the period. Finally, Nomura Asset Management Co. Ltd. bought a new position in shares of Square in the third quarter worth $36,574,000. Hedge funds and other institutional investors own 54.66% of the company’s stock.
A number of brokerages recently commented on SQ. Stephens restated a “buy” rating and issued a $41.00 price target on shares of Square in a research report on Wednesday, January 10th. Credit Suisse Group restated a “positive” rating and issued a $37.00 price target (up previously from $31.00) on shares of Square in a research report on Monday, November 20th. Zacks Investment Research cut Square from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Vetr upgraded Square from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Monday, February 5th. Finally, Susquehanna Bancshares raised their price target on Square from $43.00 to $51.00 and gave the stock a “positive” rating in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $36.96.
Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The company had revenue of $257.12 million during the quarter, compared to the consensus estimate of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The firm’s revenue was up 44.6% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share. research analysts predict that Square Inc will post -0.15 EPS for the current fiscal year.
In other Square news, insider Hillary B. Smith sold 75,103 shares of Square stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $37.56, for a total value of $2,820,868.68. Following the completion of the sale, the insider now directly owns 563,798 shares in the company, valued at $21,176,252.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ajmere Dale sold 20,286 shares of Square stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $39.12, for a total value of $793,588.32. Following the completion of the sale, the insider now owns 134,518 shares of the company’s stock, valued at $5,262,344.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,648,627 shares of company stock valued at $64,395,445. 32.68% of the stock is currently owned by corporate insiders.
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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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