Enlightenment Research LLC Boosts Stake in Square, Inc. (NYSE:SQ)

Enlightenment Research LLC raised its position in Square, Inc. (NYSE:SQ) by 53.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,200 shares of the technology company’s stock after buying an additional 6,000 shares during the period. Enlightenment Research LLC’s holdings in Square were worth $1,253,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SQ. Great Lakes Advisors LLC increased its stake in shares of Square by 48.8% in the second quarter. Great Lakes Advisors LLC now owns 47,093 shares of the technology company’s stock valued at $3,416,000 after purchasing an additional 15,449 shares during the period. Teacher Retirement System of Texas boosted its holdings in Square by 526.4% during the second quarter. Teacher Retirement System of Texas now owns 257,833 shares of the technology company’s stock worth $18,701,000 after buying an additional 216,674 shares in the last quarter. Bbva USA Bancshares Inc. bought a new stake in Square during the second quarter worth approximately $264,000. TTP Investments Inc. boosted its holdings in Square by 14.3% during the second quarter. TTP Investments Inc. now owns 3,777 shares of the technology company’s stock worth $274,000 after buying an additional 473 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Square by 10.6% during the second quarter. State Board of Administration of Florida Retirement System now owns 442,939 shares of the technology company’s stock worth $32,126,000 after buying an additional 42,480 shares in the last quarter. 52.21% of the stock is owned by institutional investors.

In related news, insider Jacqueline D. Reses sold 5,000 shares of Square stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $73.26, for a total transaction of $366,300.00. Following the completion of the transaction, the insider now directly owns 399,914 shares of the company’s stock, valued at approximately $29,297,699.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ajmere Dale sold 2,296 shares of Square stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $60.86, for a total transaction of $139,734.56. Following the transaction, the insider now directly owns 79,725 shares of the company’s stock, valued at $4,852,063.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,249 shares of company stock worth $5,506,825. 21.79% of the stock is owned by company insiders.

A number of analysts recently weighed in on SQ shares. Evercore ISI cut shares of Square from an “outperform” rating to an “underperform” rating and reduced their target price for the stock from $101.00 to $64.00 in a report on Thursday, August 1st. Citigroup set a $95.00 target price on shares of Square and gave the stock a “buy” rating in a report on Friday, July 19th. ValuEngine cut shares of Square from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Guggenheim restated a “buy” rating and set a $80.00 target price (down from $94.00) on shares of Square in a report on Monday, August 5th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Square in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and nineteen have issued a buy rating to the company. Square has an average rating of “Hold” and an average price target of $83.91.

NYSE:SQ opened at $64.37 on Wednesday. Square, Inc. has a 1 year low of $49.82 and a 1 year high of $101.15. The firm’s fifty day simple moving average is $73.54 and its 200 day simple moving average is $72.34. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $26.85 billion, a PE ratio of 3,218.50, a PEG ratio of 21.37 and a beta of 3.31.

Square (NYSE:SQ) last posted its earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.20. The business had revenue of $563.00 million for the quarter, compared to analyst estimates of $557.67 million. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. Square’s revenue was up 46.2% compared to the same quarter last year. During the same period last year, the business posted $0.13 EPS. As a group, analysts anticipate that Square, Inc. will post 0.12 EPS for the current fiscal year.

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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