Essex Investment Management Co. LLC Buys Shares of 19,868 Square Inc. (SQ)
Essex Investment Management Co. LLC purchased a new position in Square Inc. (NYSE:SQ) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 19,868 shares of the company’s stock, valued at approximately $180,000.
Other large investors have also modified their holdings of the company. TIAA CREF Investment Management LLC increased its position in Square by 110.0% in the first quarter. TIAA CREF Investment Management LLC now owns 177,978 shares of the company’s stock valued at $2,720,000 after buying an additional 93,239 shares during the last quarter. BlackRock Inc. increased its position in Square by 28.0% in the first quarter. BlackRock Inc. now owns 42,526 shares of the company’s stock valued at $649,000 after buying an additional 9,309 shares during the last quarter. BlackRock Group LTD increased its position in Square by 22.9% in the first quarter. BlackRock Group LTD now owns 712,536 shares of the company’s stock valued at $10,889,000 after buying an additional 132,994 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Square during the first quarter valued at approximately $206,000. Finally, Loomis Sayles & Co. L P purchased a new position in Square during the first quarter valued at approximately $20,557,000. 16.89% of the stock is owned by hedge funds and other institutional investors.
Shares of Square Inc. (NYSE:SQ) traded down 0.35% during trading on Friday, hitting $11.48. The stock had a trading volume of 1,660,239 shares. The stock’s market cap is $3.92 billion. The stock’s 50-day moving average is $11.75 and its 200-day moving average is $11.26. Square Inc. has a 12-month low of $8.06 and a 12-month high of $15.91.
Square (NYSE:SQ) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.03. The firm had revenue of $439 million for the quarter, compared to analyst estimates of $406.93 million. Square had a negative return on equity of 37.14% and a negative net margin of 14.85%. The company’s revenue for the quarter was up 54.1% compared to the same quarter last year. On average, equities research analysts expect that Square Inc. will post ($0.60) EPS for the current year.
SQ has been the topic of several research reports. Wedbush reduced their price objective on Square from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, August 4th. Vetr downgraded Square from a “buy” rating to a “hold” rating and set a $9.34 price objective on the stock. in a report on Monday, July 18th. Mizuho reiterated a “buy” rating and issued a $16.00 price target on shares of Square in a report on Thursday, August 4th. BTIG Research reiterated a “buy” rating and issued a $12.00 price target on shares of Square in a report on Monday, June 20th. Finally, Evercore ISI lifted their price target on Square from $7.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, August 4th. Fifteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Square currently has a consensus rating of “Buy” and an average price target of $12.77.
In other Square news, CFO Sarah Friar sold 2,690 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total transaction of $26,281.30. Following the transaction, the chief financial officer now owns 114,402 shares of the company’s stock, valued at $1,117,707.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lawrence Henry Summers sold 23,125 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $12.50, for a total value of $289,062.50. Following the transaction, the director now directly owns 50,507 shares in the company, valued at approximately $631,337.50. The disclosure for this sale can be found here. 42.60% of the stock is owned by corporate insiders.
Square Company Profile
Square, Inc enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses. It serves as a payment service provider, acting as the touch point for the seller to the rest of the payment chain.
Want to see what other hedge funds are holding SQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Square Inc. (NYSE:SQ).
Receive News & Ratings for Square Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square Inc. and related companies with MarketBeat.com's FREE daily email newsletter.