Darwin Advisors LLC Raises Holdings in Square, Inc. (NYSE:SQ)

Darwin Advisors LLC boosted its stake in shares of Square, Inc. (NYSE:SQ) by 73.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,158 shares of the technology company’s stock after acquiring an additional 12,763 shares during the quarter. Square accounts for about 1.1% of Darwin Advisors LLC’s investment portfolio, making the stock its 21st largest holding. Darwin Advisors LLC’s holdings in Square were worth $4,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Fir Tree Capital Management LP purchased a new stake in Square in the second quarter worth $9,078,000. Softbank Group Corp purchased a new position in Square during the 2nd quarter valued at $108,668,000. Coatue Management LLC increased its position in Square by 31.0% during the 2nd quarter. Coatue Management LLC now owns 4,326,261 shares of the technology company’s stock valued at $453,998,000 after purchasing an additional 1,022,563 shares during the period. Third Point LLC purchased a new position in Square during the 2nd quarter valued at $83,952,000. Finally, Holocene Advisors LP increased its position in Square by 387.5% during the 2nd quarter. Holocene Advisors LP now owns 658,108 shares of the technology company’s stock valued at $69,062,000 after purchasing an additional 523,105 shares during the period. Institutional investors own 66.29% of the company’s stock.

A number of research analysts have issued reports on the stock. UBS Group reissued a “sell” rating and set a $114.00 price objective on shares of Square in a research report on Tuesday, September 29th. Wolfe Research raised shares of Square from a “peer perform” rating to an “outperform” rating and set a $195.00 price objective on the stock in a research report on Tuesday, September 29th. Cowen downgraded shares of Square from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $79.00 to $119.00 in a research report on Thursday, July 9th. SunTrust Banks reaffirmed a “buy” rating and issued a $150.00 target price (up from $83.00) on shares of Square in a research report on Monday, July 6th. Finally, Canaccord Genuity upped their target price on shares of Square from $80.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $127.08.

In related news, insider Sivan Whiteley sold 2,662 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $167.81, for a total value of $446,710.22. Following the completion of the sale, the insider now directly owns 138,268 shares of the company’s stock, valued at approximately $23,202,753.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ajmere Dale sold 3,880 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $153.03, for a total transaction of $593,756.40. Following the completion of the sale, the chief accounting officer now directly owns 43,310 shares of the company’s stock, valued at $6,627,729.30. The disclosure for this sale can be found here. Insiders sold a total of 689,905 shares of company stock worth $112,143,728 in the last quarter. Company insiders own 19.90% of the company’s stock.

Shares of NYSE:SQ opened at $186.35 on Friday. The firm’s 50 day moving average price is $159.98 and its 200-day moving average price is $113.19. Square, Inc. has a twelve month low of $32.33 and a twelve month high of $193.44. 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 stock has a market capitalization of $82.65 billion, a PE ratio of 300.56 and a beta of 2.72.

Square (NYSE:SQ) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business earned $0.21 EPS. The business’s quarterly revenue was up 63.8% on a year-over-year basis. Analysts expect that Square, Inc. will post -0.27 earnings per share for the current fiscal year.

Square Company 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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