Pictet Asset Management Ltd. Has $7.82 Million Stock Holdings in Square, Inc. (NYSE:SQ)

Pictet Asset Management Ltd. lowered its holdings in shares of Square, Inc. (NYSE:SQ) by 2.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 104,387 shares of the technology company’s stock after selling 2,400 shares during the period. Pictet Asset Management Ltd.’s holdings in Square were worth $7,821,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SQ. Strs Ohio boosted its holdings in Square by 6.0% in the fourth quarter. Strs Ohio now owns 5,866 shares of the technology company’s stock valued at $329,000 after purchasing an additional 334 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Square by 19.9% in the fourth quarter. Advisors Asset Management Inc. now owns 39,458 shares of the technology company’s stock valued at $2,213,000 after purchasing an additional 6,553 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Square by 18.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,256 shares of the technology company’s stock valued at $127,000 after purchasing an additional 348 shares during the last quarter. First Mercantile Trust Co. boosted its holdings in Square by 71.4% in the fourth quarter. First Mercantile Trust Co. now owns 3,600 shares of the technology company’s stock valued at $202,000 after purchasing an additional 1,500 shares during the last quarter. Finally, TD Asset Management Inc. boosted its holdings in Square by 37.5% in the fourth quarter. TD Asset Management Inc. now owns 11,422 shares of the technology company’s stock valued at $641,000 after purchasing an additional 3,115 shares during the last quarter. 51.98% of the stock is owned by hedge funds and other institutional investors.

In other Square news, insider Alyssa Henry sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $64.20, for a total transaction of $1,284,000.00. Following the completion of the sale, the insider now owns 459,793 shares in the company, valued at approximately $29,518,710.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ajmere Dale sold 2,296 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $60.86, for a total transaction of $139,734.56. Following the completion of the transaction, the insider now directly owns 79,725 shares of the company’s stock, valued at approximately $4,852,063.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,021 shares of company stock worth $16,204,499. 21.79% of the stock is currently owned by company insiders.

Several brokerages have issued reports on SQ. Mizuho upped their price objective on Square from $75.00 to $85.00 in a research note on Thursday, February 28th. KeyCorp lowered their target price on Square from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, February 28th. Piper Jaffray Companies raised their target price on Square to $76.00 and gave the company a “neutral” rating in a research report on Thursday, February 28th. Jefferies Financial Group raised their target price on Square to $73.00 and gave the company a “hold” rating in a research report on Thursday, February 28th. Finally, SunTrust Banks raised their target price on Square to $75.00 and gave the company a “hold” rating in a research report on Thursday, February 28th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Square has a consensus rating of “Buy” and a consensus target price of $85.82.

NYSE SQ traded up $1.25 during trading on Friday, hitting $72.53. 9,461,650 shares of the company traded hands, compared to its average volume of 11,164,945. Square, Inc. has a 12 month low of $49.82 and a 12 month high of $101.15. The business’s fifty day simple moving average is $67.50. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market cap of $29.59 billion, a P/E ratio of 3,626.50, a P/E/G ratio of 18.48 and a beta of 3.42.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.09). The business had revenue of $489.00 million during the quarter, compared to analyst estimates of $479.63 million. Square had a negative net margin of 1.47% and a positive return on equity of 1.86%. The company’s revenue for the quarter was up 59.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share. On average, equities research analysts predict that Square, Inc. will post 0.15 EPS for the current fiscal 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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