Karp Capital Management Corp Purchases 975 Shares of Square, Inc. (SQ)

Karp Capital Management Corp grew its position in shares of Square, Inc. (NYSE:SQ) by 7.6% in the 1st quarter, HoldingsChannel reports. The firm owned 13,865 shares of the technology company’s stock after buying an additional 975 shares during the period. Karp Capital Management Corp’s holdings in Square were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of SQ. Jennison Associates LLC increased its holdings in Square by 34.3% in the 4th quarter. Jennison Associates LLC now owns 9,663,722 shares of the technology company’s stock worth $542,038,000 after acquiring an additional 2,470,434 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in Square by 45.3% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 4,238,388 shares of the technology company’s stock worth $237,731,000 after acquiring an additional 1,321,321 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Square by 4,800.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,698,238 shares of the technology company’s stock worth $66,000 after acquiring an additional 3,622,766 shares in the last quarter. Norges Bank purchased a new stake in Square in the 4th quarter worth $141,059,000. Finally, American Century Companies Inc. increased its holdings in Square by 35.6% in the 4th quarter. American Century Companies Inc. now owns 2,101,900 shares of the technology company’s stock worth $117,896,000 after acquiring an additional 552,267 shares in the last quarter. 52.24% of the stock is owned by hedge funds and other institutional investors.

Shares of Square stock traded up $0.59 during trading hours on Wednesday, reaching $64.70. 201,798 shares of the company’s stock were exchanged, compared to its average volume of 9,996,569. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $27.12 billion, a price-to-earnings ratio of 3,233.50, a PEG ratio of 16.55 and a beta of 3.49. Square, Inc. has a 1 year low of $49.82 and a 1 year high of $101.15.

Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.09). The firm had revenue of $489.00 million for 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 was up 59.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 EPS. On average, research analysts anticipate that Square, Inc. will post 0.15 EPS for the current fiscal year.

SQ has been the subject of several recent analyst reports. Mizuho boosted their price target on shares of Square from $75.00 to $85.00 in a report on Thursday, February 28th. Cantor Fitzgerald reissued a “buy” rating and issued a $91.00 price target on shares of Square in a report on Wednesday, February 27th. Canaccord Genuity reissued a “buy” rating and issued a $88.00 price target on shares of Square in a report on Wednesday, February 27th. Nomura reissued a “buy” rating and issued a $110.00 price target (up previously from $108.00) on shares of Square in a report on Thursday, January 24th. Finally, ValuEngine lowered shares of Square from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 1st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $86.14.

In other news, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $77.16, for a total transaction of $7,950,180.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Ajmere Dale sold 2,048 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $80.00, for a total transaction of $163,840.00. Following the transaction, the chief accounting officer now directly owns 79,985 shares in the company, valued at approximately $6,398,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 799,641 shares of company stock worth $60,846,073. Corporate insiders own 21.79% of the company’s stock.

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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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