M&R Capital Management Inc. Raises Stock Holdings in Square, Inc. (NYSE:SQ)

M&R Capital Management Inc. increased its stake in shares of Square, Inc. (NYSE:SQ) by 78.4% in the third quarter, HoldingsChannel reports. The firm owned 4,460 shares of the technology company’s stock after buying an additional 1,960 shares during the period. M&R Capital Management Inc.’s holdings in Square were worth $724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Axel Capital Management LLC lifted its stake in shares of Square by 406.7% during the 3rd quarter. Axel Capital Management LLC now owns 76,000 shares of the technology company’s stock worth $12,354,000 after purchasing an additional 61,000 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Square by 1,665.8% during the 2nd quarter. Two Sigma Advisers LP now owns 211,900 shares of the technology company’s stock worth $22,237,000 after purchasing an additional 199,900 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Square during the 2nd quarter worth $8,607,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Square by 2.5% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 286,521 shares of the technology company’s stock worth $30,067,000 after purchasing an additional 6,878 shares during the last quarter. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Square during the 2nd quarter worth $8,744,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Shares of Square stock traded up $5.94 during trading hours on Thursday, reaching $168.49. 6,708,258 shares of the company’s stock were exchanged, compared to its average volume of 13,115,722. Square, Inc. has a 1 year low of $32.33 and a 1 year high of $170.61. The company has a market capitalization of $74.73 billion, a P/E ratio of 271.76 and a beta of 2.72. The business has a fifty day moving average of $150.07 and a two-hundred day moving average of $102.59. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.12.

Square (NYSE:SQ) last released its earnings results on Tuesday, August 4th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.41. Square had a net margin of 5.15% and a negative return on equity of 1.20%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 63.8% compared to the same quarter last year. As a group, research analysts predict that Square, Inc. will post -0.27 EPS for the current year.

In related news, insider Jacqueline D. Reses sold 35,000 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $142.59, for a total value of $4,990,650.00. Following the completion of the sale, the insider now owns 246,214 shares of the company’s stock, valued at $35,107,654.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sivan Whiteley sold 4,028 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $134.04, for a total transaction of $539,913.12. Following the completion of the sale, the insider now directly owns 138,776 shares of the company’s stock, valued at approximately $18,601,535.04. The disclosure for this sale can be found here. Insiders have sold 475,570 shares of company stock valued at $71,560,230 in the last ninety days. Insiders own 19.90% of the company’s stock.

A number of research firms have commented on SQ. Morgan Stanley increased their price target on Square from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. Barclays increased their price target on Square from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $190.00 price target on shares of Square in a research note on Wednesday, August 5th. Moffett Nathanson increased their price target on Square from $90.00 to $120.00 in a research note on Wednesday, July 1st. Finally, Goldman Sachs Group began coverage on Square in a research note on Tuesday, July 14th. They issued a “neutral” rating and a $133.00 price target for the company. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty have assigned a buy rating to the company’s stock. Square presently has an average rating of “Hold” and an average price target of $119.65.

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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