Great Lakes Advisors LLC acquired a new position in Square, Inc. (NYSE:SQ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 155,728 shares of the technology company’s stock, valued at approximately $3,653,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Square by 641.8% in the first quarter. Renaissance Technologies LLC now owns 8,578,500 shares of the technology company’s stock worth $148,236,000 after buying an additional 7,422,000 shares during the last quarter. Bank of New York Mellon Corp increased its position in Square by 72.1% in the first quarter. Bank of New York Mellon Corp now owns 14,480,815 shares of the technology company’s stock valued at $250,229,000 after buying an additional 6,065,730 shares in the last quarter. BlackRock Inc. increased its position in Square by 7,162.2% in the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock valued at $93,023,000 after buying an additional 5,309,197 shares in the last quarter. FMR LLC increased its position in Square by 24.4% in the first quarter. FMR LLC now owns 11,124,126 shares of the technology company’s stock valued at $192,225,000 after buying an additional 2,183,127 shares in the last quarter. Finally, State Treasurer State of Michigan bought a new position in Square during the second quarter valued at $37,301,000. 68.74% of the stock is currently owned by institutional investors and hedge funds.

Shares of Square, Inc. (NYSE SQ) opened at 24.99 on Friday. The firm has a 50 day moving average price of $25.67 and a 200 day moving average price of $20.83. Square, Inc. has a one year low of $10.88 and a one year high of $27.97. The stock’s market capitalization is $9.59 billion.

Square (NYSE:SQ) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $240 million during the quarter, compared to the consensus estimate of $228.64 million. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The company’s revenue was up 40.4% on a year-over-year basis. During the same period last year, the firm earned ($0.08) earnings per share. Analysts predict that Square, Inc. will post $0.24 earnings per share for the current fiscal year.

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Several research firms have recently weighed in on SQ. Credit Suisse Group reissued a “neutral” rating and set a $26.00 target price (up previously from $25.00) on shares of Square in a research report on Wednesday, August 9th. Royal Bank Of Canada reissued an “outperform” rating and set a $31.00 target price (up previously from $24.00) on shares of Square in a research report on Wednesday, August 9th. Canaccord Genuity boosted their target price on Square from $18.00 to $26.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Barclays PLC reissued an “overweight” rating and set a $28.00 target price (up previously from $21.00) on shares of Square in a research report on Wednesday, August 9th. Finally, BidaskClub downgraded Square from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. Eleven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Square currently has an average rating of “Buy” and a consensus target price of $24.61.

In other news, CEO Jack Dorsey sold 309,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $22.70, for a total transaction of $7,014,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sarah Friar sold 19,200 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $26.25, for a total value of $504,000.00. Following the sale, the chief financial officer now owns 368,791 shares of the company’s stock, valued at $9,680,763.75. The disclosure for this sale can be found here. Insiders have sold 952,600 shares of company stock valued at $23,044,764 over the last 90 days. Insiders own 32.68% of the company’s stock.

About Square

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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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