Westfield Capital Management Co. LP Has $32.05 Million Position in Square, Inc. (NYSE:SQ)
Westfield Capital Management Co. LP cut its stake in shares of Square, Inc. (NYSE:SQ) by 2.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 441,850 shares of the technology company’s stock after selling 9,170 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.10% of Square worth $32,047,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Jennison Associates LLC grew its position in shares of Square by 56.6% in the 1st quarter. Jennison Associates LLC now owns 15,136,362 shares of the technology company’s stock valued at $1,134,016,000 after acquiring an additional 5,472,640 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Square by 28.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,303,968 shares of the technology company’s stock worth $457,227,000 after purchasing an additional 1,410,744 shares in the last quarter. Nikko Asset Management Americas Inc. raised its stake in Square by 37.0% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 5,034,654 shares of the technology company’s stock valued at $365,163,000 after purchasing an additional 1,359,963 shares during the period. Victory Capital Management Inc. bought a new stake in Square during the 1st quarter valued at approximately $34,164,000. Finally, Wells Fargo & Company MN raised its stake in Square by 25.1% during the 2nd quarter. Wells Fargo & Company MN now owns 2,237,610 shares of the technology company’s stock valued at $162,294,000 after purchasing an additional 449,120 shares during the period. 55.74% of the stock is owned by institutional investors.
Shares of SQ traded down $0.71 during mid-day trading on Wednesday, reaching $59.84. The company’s stock had a trading volume of 407,116 shares, compared to its average volume of 6,753,288. Square, Inc. has a 12-month low of $49.82 and a 12-month high of $101.15. The stock has a market cap of $26.26 billion, a PE ratio of 2,992.00, a price-to-earnings-growth ratio of 20.89 and a beta of 3.41. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 1.49. The company’s 50 day moving average is $66.84 and its 200 day moving average is $71.11.
A number of equities research analysts have issued reports on SQ shares. Citigroup increased their price objective on shares of Square from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday. Atlantic Securities started coverage on shares of Square in a report on Tuesday, September 3rd. They issued an “underweight” rating and a $55.00 target price on the stock. Wedbush reissued a “neutral” rating on shares of Square in a report on Monday, July 1st. ValuEngine lowered shares of Square from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Nomura raised their target price on shares of Square from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have given a buy rating to the company. Square has an average rating of “Hold” and an average target price of $82.31.
In other Square news, insider Ajmere Dale sold 4,953 shares of Square stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $80.00, for a total value of $396,240.00. Following the transaction, the insider now owns 68,079 shares in the company, valued at $5,446,320. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alyssa Henry sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $61.86, for a total value of $1,237,200.00. Following the completion of the transaction, the insider now directly owns 442,168 shares in the company, valued at approximately $27,352,512.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,001 shares of company stock worth $4,090,629. 21.79% of the stock is owned by company insiders.
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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