Bridgeway Capital Management Inc. Sells 15,840 Shares of Square, Inc. (NYSE:SQ)

Bridgeway Capital Management Inc. cut its stake in shares of Square, Inc. (NYSE:SQ) by 21.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,460 shares of the technology company’s stock after selling 15,840 shares during the quarter. Bridgeway Capital Management Inc.’s holdings in Square were worth $5,925,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fir Tree Capital Management LP bought a new stake in Square during the 2nd quarter worth about $9,078,000. Sands Capital Management LLC bought a new stake in Square during the 1st quarter worth about $298,358,000. Massachusetts Financial Services Co. MA grew its position in shares of Square by 44.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,942,296 shares of the technology company’s stock worth $258,877,000 after buying an additional 1,520,028 shares during the period. Softbank Group Corp acquired a new position in shares of Square during the 2nd quarter worth about $108,668,000. Finally, Coatue Management LLC grew its position in shares of Square by 31.0% during the 2nd quarter. Coatue Management LLC now owns 4,326,261 shares of the technology company’s stock worth $453,998,000 after buying an additional 1,022,563 shares during the period. 66.29% of the stock is owned by institutional investors.

SQ has been the subject of several analyst reports. SunTrust Banks restated a “buy” rating and set a $150.00 target price (up from $83.00) on shares of Square in a research report on Monday, July 6th. UBS Group downgraded Square from a “neutral” rating to a “sell” rating and upped their price target for the stock from $54.00 to $63.00 in a research report on Thursday, May 21st. BTIG Research reaffirmed a “hold” rating on shares of Square in a research report on Wednesday, August 5th. Piper Sandler began coverage on Square in a research report on Monday, July 6th. They set a “neutral” rating and a $131.00 price target for the company. Finally, Susquehanna Bancshares upped their price target on Square from $145.00 to $180.00 in a research report on Thursday, August 6th. Five analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $107.35.

Shares of SQ traded down $3.00 during trading hours on Wednesday, hitting $151.50. 363,094 shares of the company were exchanged, compared to its average volume of 13,317,564. The company has a market cap of $68.53 billion, a price-to-earnings ratio of 245.92 and a beta of 2.72. Square, Inc. has a fifty-two week low of $32.33 and a fifty-two week high of $170.61. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. The firm’s fifty day moving average is $145.19 and its 200 day moving average is $96.80.

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 consensus estimate of ($0.23) by $0.41. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.13 billion. Square had a negative return on equity of 1.20% and a net margin of 5.15%. Square’s quarterly revenue was up 63.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. Analysts anticipate that Square, Inc. will post -0.27 EPS for the current year.

In related news, insider Alyssa Henry sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $141.32, for a total value of $1,413,200.00. Following the sale, the insider now directly owns 433,930 shares of the company’s stock, valued at $61,322,987.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ajmere Dale sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $100.00, for a total value of $200,000.00. Following the completion of the sale, the chief accounting officer now directly owns 49,315 shares in the company, valued at $4,931,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 244,583 shares of company stock worth $36,198,971. 19.90% of the stock is currently owned by insiders.

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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