SG Americas Securities LLC reduced its position in Square, Inc. (NYSE:SQ) by 78.1% in the 3rd quarter, Holdings Channel reports. The firm owned 47,533 shares of the technology company’s stock after selling 169,032 shares during the quarter. SG Americas Securities LLC’s holdings in Square were worth $4,706,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SQ. CIBC Asset Management Inc increased its stake in shares of Square by 5.3% in the 3rd quarter. CIBC Asset Management Inc now owns 14,784 shares of the technology company’s stock worth $1,464,000 after acquiring an additional 738 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Square by 1.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 75,472 shares of the technology company’s stock worth $7,472,000 after acquiring an additional 754 shares during the last quarter. Lincoln National Corp increased its stake in shares of Square by 13.7% in the 2nd quarter. Lincoln National Corp now owns 6,327 shares of the technology company’s stock worth $390,000 after acquiring an additional 764 shares during the last quarter. Alpha Cubed Investments LLC increased its stake in shares of Square by 23.1% in the 3rd quarter. Alpha Cubed Investments LLC now owns 4,208 shares of the technology company’s stock worth $312,000 after acquiring an additional 791 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Square by 5.7% in the 3rd quarter. IFP Advisors Inc now owns 15,264 shares of the technology company’s stock worth $1,511,000 after acquiring an additional 818 shares during the last quarter. 51.04% of the stock is owned by hedge funds and other institutional investors.

Shares of Square stock opened at $70.59 on Monday. Square, Inc. has a 12 month low of $34.14 and a 12 month high of $101.15. The stock has a market cap of $29.19 billion, a P/E ratio of -705.90 and a beta of 4.30. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.54 and a quick ratio of 1.54.

Square (NYSE:SQ) last announced its earnings results on Wednesday, November 7th. The technology company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Square had a negative return on equity of 1.11% and a negative net margin of 0.87%. The company had revenue of $431.00 million during the quarter, compared to analysts’ expectations of $414.19 million. During the same period last year, the business posted $0.07 EPS. Square’s revenue for the quarter was up 67.7% on a year-over-year basis. As a group, equities analysts expect that Square, Inc. will post -0.02 EPS for the current fiscal year.

A number of analysts have issued reports on SQ shares. JPMorgan Chase & Co. raised their target price on Square from $45.00 to $46.00 and gave the stock a “$71.60” rating in a research note on Monday, July 23rd. Deutsche Bank raised their target price on Square from $57.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. KeyCorp raised their target price on Square from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, July 30th. Stifel Nicolaus raised their target price on Square from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Finally, Royal Bank of Canada raised their price objective on Square to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Square has an average rating of “Hold” and an average target price of $81.17.

In other news, insider Ajmere Dale sold 4,096 shares of Square stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $89.99, for a total value of $368,599.04. Following the completion of the transaction, the insider now owns 93,255 shares in the company, valued at approximately $8,392,017.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jack Dorsey sold 103,035 shares of Square stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $76.02, for a total value of $7,832,720.70. The disclosure for this sale can be found here. Insiders sold a total of 2,225,650 shares of company stock valued at $182,074,855 in the last quarter. Company insiders own 27.99% of the company’s stock.

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About Square

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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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