20,300 Shares in Square Inc (SQ) Purchased by DnB Asset Management AS
DnB Asset Management AS purchased a new stake in Square Inc (NYSE:SQ) during the fourth quarter, HoldingsChannel reports. The firm purchased 20,300 shares of the technology company’s stock, valued at approximately $704,000.
A number of other institutional investors and hedge funds have also bought and sold shares of SQ. FMR LLC raised its stake in Square by 114.7% in the 2nd quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after acquiring an additional 12,764,491 shares during the period. Vanguard Group Inc. raised its stake in Square by 73.4% in the 2nd quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after acquiring an additional 8,058,892 shares during the period. Goldman Sachs Group Inc. raised its stake in Square by 556.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock valued at $107,786,000 after acquiring an additional 3,894,639 shares during the period. Capital World Investors raised its stake in Square by 32.8% in the 2nd quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after acquiring an additional 3,853,000 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in Square by 31.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 13,302,170 shares of the technology company’s stock valued at $383,235,000 after acquiring an additional 3,147,558 shares during the period. Institutional investors and hedge funds own 54.21% of the company’s stock.
Several research analysts have weighed in on the company. Stephens reiterated a “buy” rating and set a $41.00 price objective on shares of Square in a research report on Wednesday, January 10th. Zacks Investment Research cut Square from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. KeyCorp increased their price objective on Square from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 3rd. Royal Bank of Canada reiterated a “buy” rating and set a $31.00 price objective on shares of Square in a research report on Sunday, October 8th. Finally, Barclays reiterated a “buy” rating and set a $43.00 price objective on shares of Square in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have given a buy rating to the company. Square currently has a consensus rating of “Buy” and a consensus price target of $35.37.
Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $257.12 million for the quarter, compared to analyst estimates of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. Square’s revenue was up 44.6% compared to the same quarter last year. During the same period last year, the firm posted $0.01 earnings per share. research analysts anticipate that Square Inc will post -0.15 earnings per share for the current year.
In related news, CAO Ajmere Dale sold 17,446 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $38.98, for a total value of $680,045.08. Following the sale, the chief accounting officer now directly owns 134,518 shares of the company’s stock, valued at $5,243,511.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $39.15, for a total value of $15,660,000.00. Following the completion of the sale, the director now directly owns 507,732 shares in the company, valued at $19,877,707.80. The disclosure for this sale can be found here. Insiders sold 1,231,132 shares of company stock worth $47,702,154 over the last ninety days. 32.68% of the stock is currently owned by insiders.
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Square Company Profile
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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