7,097 Shares in Square, Inc. (SQ) Acquired by Segall Bryant & Hamill LLC
Segall Bryant & Hamill LLC bought a new stake in Square, Inc. (NYSE:SQ) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,097 shares of the technology company’s stock, valued at approximately $349,000.
Several other large investors have also recently added to or reduced their stakes in SQ. Whale Rock Capital Management LLC acquired a new stake in Square during the 1st quarter valued at $180,818,000. BlackRock Inc. lifted its holdings in Square by 18.4% during the 4th quarter. BlackRock Inc. now owns 13,005,859 shares of the technology company’s stock valued at $450,913,000 after purchasing an additional 2,024,019 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Square by 458.6% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,962,828 shares of the technology company’s stock valued at $68,051,000 after purchasing an additional 1,611,446 shares during the last quarter. State Treasurer State of Michigan lifted its holdings in Square by 82.2% during the 1st quarter. State Treasurer State of Michigan now owns 2,540,500 shares of the technology company’s stock valued at $124,993,000 after purchasing an additional 1,146,219 shares during the last quarter. Finally, Carillon Tower Advisers Inc. acquired a new stake in Square during the 4th quarter valued at $31,189,000. 51.91% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on SQ. KeyCorp reissued an “overweight” rating and set a $70.00 target price (up previously from $55.00) on shares of Square in a report on Tuesday. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a report on Tuesday, May 1st. Vetr raised Square from a “hold” rating to a “buy” rating and set a $57.03 target price for the company in a report on Monday, March 19th. Credit Suisse Group lifted their target price on Square from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Finally, Deutsche Bank lifted their target price on Square from $47.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, March 23rd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $49.00.
Square (NYSE:SQ) last released its earnings results on Wednesday, May 2nd. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. Square had a negative return on equity of 7.03% and a negative net margin of 2.96%. The firm had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $293.07 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. The business’s revenue for the quarter was up 50.5% on a year-over-year basis. equities analysts anticipate that Square, Inc. will post 0.01 earnings per share for the current fiscal year.
In other news, insider Ajmere Dale sold 5,315 shares of the business’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $61.13, for a total transaction of $324,905.95. Following the sale, the insider now directly owns 126,745 shares in the company, valued at $7,747,921.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $61.56, for a total value of $24,624,000.00. Following the sale, the director now owns 468,223 shares in the company, valued at $28,823,807.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,289,515 shares of company stock worth $70,042,500. Company insiders own 27.99% of the company’s stock.
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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