Maytus Capital Management LLC Takes Position in Square, Inc. (NYSE:SQ)

Maytus Capital Management LLC purchased a new stake in Square, Inc. (NYSE:SQ) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,000 shares of the technology company’s stock, valued at approximately $1,135,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Segantii Capital Management Ltd bought a new stake in Square during the 1st quarter worth $4,496,000. Phoenix Wealth Advisors grew its position in Square by 7.1% during the 1st quarter. Phoenix Wealth Advisors now owns 7,972 shares of the technology company’s stock worth $1,830,000 after acquiring an additional 531 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Square by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 308,124 shares of the technology company’s stock worth $67,066,000 after acquiring an additional 14,577 shares during the last quarter. Toronto Dominion Bank grew its position in Square by 14.6% during the 4th quarter. Toronto Dominion Bank now owns 69,927 shares of the technology company’s stock worth $15,219,000 after acquiring an additional 8,885 shares during the last quarter. Finally, Lido Advisors LLC grew its position in Square by 33.1% during the 4th quarter. Lido Advisors LLC now owns 2,852 shares of the technology company’s stock worth $620,000 after acquiring an additional 709 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.

In other news, insider Brian Grassadonia sold 16,671 shares of the company’s stock in a transaction that occurred on Wednesday, April 7th. The stock was sold at an average price of $246.18, for a total value of $4,104,066.78. Following the completion of the transaction, the insider now directly owns 118,471 shares of the company’s stock, valued at $29,165,190.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Amrita Ahuja sold 2,502 shares of the company’s stock in a transaction that occurred on Friday, April 9th. The shares were sold at an average price of $264.49, for a total value of $661,753.98. Following the completion of the transaction, the chief financial officer now directly owns 143,712 shares of the company’s stock, valued at $38,010,386.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,445,314 shares of company stock valued at $337,843,402. 15.12% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently weighed in on SQ shares. Morgan Stanley boosted their price objective on Square from $245.00 to $254.00 and gave the stock an “equal weight” rating in a research report on Friday, May 7th. BMO Capital Markets boosted their price objective on Square from $237.00 to $269.00 and gave the stock a “market perform” rating in a research report on Monday, May 10th. Oddo Bhf began coverage on Square in a report on Wednesday, April 7th. They set a “neutral” rating on the stock. Piper Sandler lifted their target price on Square from $190.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday, February 24th. They noted that the move was a valuation call. Finally, Needham & Company LLC lifted their target price on Square from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, April 13th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $238.43.

SQ traded up $2.14 during midday trading on Friday, reaching $219.28. 316,724 shares of the company were exchanged, compared to its average volume of 10,529,968. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a fifty day moving average of $230.53. The company has a market cap of $99.85 billion, a P/E ratio of 305.84, a price-to-earnings-growth ratio of 10.41 and a beta of 2.40. Square, Inc. has a one year low of $84.06 and a one year high of $283.19.

Square (NYSE:SQ) last issued its quarterly earnings data on Thursday, May 6th. The technology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.45. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $3.28 billion. Square had a return on equity of 9.32% and a net margin of 2.72%. The company’s revenue for the quarter was up 266.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) EPS. On average, sell-side analysts forecast that Square, Inc. will post 0.43 EPS for the current year.

Square Profile

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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