Transcend Wealth Collective LLC Sells 137 Shares of Square, Inc. (NYSE:SQ)

Transcend Wealth Collective LLC trimmed its position in shares of Square, Inc. (NYSE:SQ) by 8.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,580 shares of the technology company’s stock after selling 137 shares during the period. Transcend Wealth Collective LLC’s holdings in Square were worth $360,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC raised its holdings in Square by 33,045.6% in the 4th quarter. Jennison Associates LLC now owns 8,594,646 shares of the technology company’s stock worth $1,870,539,000 after acquiring an additional 8,568,716 shares during the last quarter. Norges Bank purchased a new stake in Square during the 4th quarter valued at $597,618,000. Nikko Asset Management Americas Inc. raised its stake in Square by 32.9% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 5,662,354 shares of the technology company’s stock valued at $1,285,637,000 after buying an additional 1,402,341 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Square by 24.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,929,857 shares of the technology company’s stock valued at $1,573,424,000 after buying an additional 1,368,995 shares during the last quarter. Finally, Winslow Capital Management LLC raised its stake in Square by 231.5% during the 4th quarter. Winslow Capital Management LLC now owns 1,646,297 shares of the technology company’s stock valued at $358,300,000 after buying an additional 1,149,672 shares during the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on SQ. JPMorgan Chase & Co. boosted their target price on shares of Square from $250.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, May 7th. Keefe, Bruyette & Woods raised shares of Square from a “market perform” rating to an “outperform” rating and set a $250.00 price objective for the company in a research report on Wednesday, March 31st. Guggenheim raised shares of Square from a “neutral” rating to a “buy” rating and set a $288.00 price objective for the company in a research report on Thursday, February 25th. Rosenblatt Securities boosted their price objective on shares of Square from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, May 7th. Finally, Mizuho boosted their price objective on shares of Square from $300.00 to $380.00 and gave the company a “buy” rating in a research report on Monday, March 1st. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $238.43.

In related news, Director James Morgan Jr. Mckelvey sold 200,000 shares of the business’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $247.70, for a total transaction of $49,540,000.00. Following the transaction, the director now directly owns 202,683 shares in the company, valued at $50,204,579.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amrita Ahuja sold 3,048 shares of the business’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $231.89, for a total transaction of $706,800.72. Following the transaction, the chief financial officer now owns 145,927 shares in the company, valued at $33,839,012.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,445,314 shares of company stock worth $337,843,402. Company insiders own 15.12% of the company’s stock.

SQ stock opened at $217.14 on Friday. The firm’s fifty day moving average price is $230.53. Square, Inc. has a one year low of $84.06 and a one year high of $283.19. The firm has a market capitalization of $98.88 billion, a price-to-earnings ratio of 305.84, a PEG ratio of 10.41 and a beta of 2.40. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.29.

Square (NYSE:SQ) last announced its earnings results on Thursday, May 6th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.45. Square had a net margin of 2.72% and a return on equity of 9.32%. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the business earned ($0.02) earnings per share. The company’s revenue for the quarter was up 266.4% compared to the same quarter last year. Research analysts predict that Square, Inc. will post 0.43 EPS for the current year.

Square 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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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