IFM Investors Pty Ltd raised its stake in Square, Inc. (NYSE:SQ) by 20.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,862 shares of the technology company’s stock after purchasing an additional 5,970 shares during the quarter. IFM Investors Pty Ltd’s holdings in Square were worth $7,805,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. Baron Financial Group LLC bought a new position in shares of Square during the third quarter valued at about $29,000. Neo Ivy Capital Management bought a new position in shares of Square during the 3rd quarter worth approximately $29,000. Arlington Partners LLC purchased a new position in shares of Square in the 4th quarter worth approximately $30,000. Resources Management Corp CT ADV boosted its stake in shares of Square by 1,000.0% in the 3rd quarter. Resources Management Corp CT ADV now owns 220 shares of the technology company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. Finally, Dimension Capital Management LLC bought a new position in shares of Square in the third quarter valued at approximately $37,000. Institutional investors own 66.29% of the company’s stock.
Shares of SQ traded up $3.40 during mid-day trading on Wednesday, reaching $230.92. The company’s stock had a trading volume of 7,304,402 shares, compared to its average volume of 10,124,180. Square, Inc. has a 52 week low of $32.33 and a 52 week high of $246.49. The stock has a market cap of $104.13 billion, a PE ratio of 372.45 and a beta of 2.68. The company’s fifty day moving average price is $221.54 and its two-hundred day moving average price is $171.00. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.92.
Several research analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Square from $162.00 to $171.00 and gave the stock a “market perform” rating in a research report on Monday, November 9th. They noted that the move was a valuation call. Smith Barney Citigroup upgraded shares of Square from a “neutral” rating to a “buy” rating and boosted their target price for the company from $185.00 to $215.00 in a research note on Friday, November 6th. 140166 increased their target price on shares of Square from $180.00 to $195.00 and gave the company a “positive” rating in a research report on Monday, October 5th. Royal Bank of Canada lifted their price target on shares of Square from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, October 16th. Finally, Bank of America reiterated a “sell” rating and issued a $120.00 price objective on shares of Square in a research note on Friday, November 6th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $170.76.
In related news, insider Alyssa Henry sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $173.99, for a total transaction of $1,739,900.00. Following the completion of the sale, the insider now directly owns 423,665 shares in the company, valued at approximately $73,713,473.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Viniar sold 100,000 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $189.11, for a total transaction of $18,911,000.00. Following the sale, the director now directly owns 171,630 shares of the company’s stock, valued at approximately $32,456,949.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,153,655 shares of company stock worth $238,750,693. Company insiders own 21.79% of the company’s stock.
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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