Whetstone Capital Advisors LLC Sells 273 Shares of Square, Inc. (NYSE:SQ)

Whetstone Capital Advisors LLC lessened its stake in shares of Square, Inc. (NYSE:SQ) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,869 shares of the technology company’s stock after selling 273 shares during the quarter. Square comprises 0.5% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 28th biggest holding. Whetstone Capital Advisors LLC’s holdings in Square were worth $2,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SQ. Jennison Associates LLC lifted its position in Square by 33,045.6% in the 4th quarter. Jennison Associates LLC now owns 8,594,646 shares of the technology company’s stock valued at $1,870,539,000 after acquiring an additional 8,568,716 shares in the last quarter. Norges Bank purchased a new stake in Square in the 4th quarter valued at about $597,618,000. Nikko Asset Management Americas Inc. increased its stake in Square by 32.9% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 5,662,354 shares of the technology company’s stock valued at $1,285,637,000 after buying an additional 1,402,341 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Square by 24.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,929,857 shares of the technology company’s stock valued at $1,573,424,000 after buying an additional 1,368,995 shares during the last quarter. Finally, Winslow Capital Management LLC increased its stake in Square by 231.5% in the 4th quarter. Winslow Capital Management LLC now owns 1,646,297 shares of the technology company’s stock valued at $358,300,000 after buying an additional 1,149,672 shares during the last quarter. 62.78% of the stock is currently owned by institutional investors.

In related news, CFO Amrita Ahuja sold 3,048 shares of the business’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $231.89, for a total transaction of $706,800.72. Following the sale, the chief financial officer now owns 145,927 shares of the company’s stock, valued at $33,839,012.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 200,000 shares of the business’s stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $247.70, for a total transaction of $49,540,000.00. Following the sale, the director now directly owns 202,683 shares in the company, valued at approximately $50,204,579.10. The disclosure for this sale can be found here. Insiders have sold 1,445,314 shares of company stock worth $337,843,402 in the last quarter. 15.12% of the stock is owned by corporate insiders.

Square stock traded up $4.31 during mid-day trading on Friday, hitting $221.45. The company’s stock had a trading volume of 285,372 shares, compared to its average volume of 10,529,968. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.29. The stock has a market cap of $100.84 billion, a PE ratio of 305.84, a price-to-earnings-growth ratio of 10.41 and a beta of 2.40. The business has a 50 day moving average of $230.53. Square, Inc. has a 12 month low of $84.06 and a 12 month high of $283.19.

Square (NYSE:SQ) last released its quarterly earnings data on Thursday, May 6th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.45. Square had a net margin of 2.72% and a return on equity of 9.32%. The firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the previous year, the company earned ($0.02) earnings per share. The company’s revenue for the quarter was up 266.4% compared to the same quarter last year. Equities analysts forecast that Square, Inc. will post 0.43 earnings per share for the current year.

Several brokerages have recently issued reports on SQ. Truist raised their price target on shares of Square from $300.00 to $325.00 in a research note on Wednesday, February 24th. Guggenheim upgraded shares of Square from a “neutral” rating to a “buy” rating and set a $288.00 price target for the company in a research note on Thursday, February 25th. JPMorgan Chase & Co. raised their price target on shares of Square from $250.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, May 7th. Wells Fargo & Company lowered shares of Square from an “overweight” rating to an “equal weight” rating and set a $255.00 price target for the company. in a research note on Wednesday, February 24th. They noted that the move was a valuation call. Finally, Needham & Company LLC raised their price target on shares of Square from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, April 13th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Square presently has an average rating of “Buy” and a consensus price target of $238.43.

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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