Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Square, Inc. (NYSE:SQ) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 482,397 shares of the technology company’s stock after purchasing an additional 32,602 shares during the quarter. Commerzbank Aktiengesellschaft FI owned about 0.12% of Square worth $27,058,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. TCI Wealth Advisors Inc. raised its stake in Square by 171.5% during the 4th quarter. TCI Wealth Advisors Inc. now owns 524 shares of the technology company’s stock valued at $29,000 after purchasing an additional 331 shares during the period. Whitener Capital Management Inc. increased its stake in Square by 55.6% in the 4th quarter. Whitener Capital Management Inc. now owns 700 shares of the technology company’s stock worth $39,000 after acquiring an additional 250 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in Square in the 4th quarter worth approximately $47,000. Ipswich Investment Management Co. Inc. bought a new stake in Square in the 4th quarter worth approximately $48,000. Finally, River Wealth Advisors LLC bought a new stake in Square in the 4th quarter worth approximately $51,000. 49.83% of the stock is currently owned by institutional investors.
In related news, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction on Wednesday, December 26th. The stock was sold at an average price of $51.57, for a total transaction of $5,313,514.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline D. Reses sold 15,000 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $70.85, for a total value of $1,062,750.00. Following the transaction, the insider now owns 405,252 shares of the company’s stock, valued at approximately $28,712,104.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,130,187 shares of company stock valued at $138,749,625. Company insiders own 27.99% of the company’s stock.
SQ has been the topic of a number of research reports. Nomura reaffirmed a “buy” rating and issued a $110.00 price objective (up previously from $108.00) on shares of Square in a research note on Thursday, January 24th. Needham & Company LLC lifted their price objective on Square from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 8th. Tigress Financial reaffirmed a “buy” rating on shares of Square in a research note on Wednesday, December 19th. Wolfe Research raised Square from a “market perform” rating to an “outperform” rating in a research note on Friday, January 4th. Finally, Barclays initiated coverage on Square in a research note on Wednesday, November 14th. They issued an “overweight” rating and a $96.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $83.55.
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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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