Crossvault Capital Management LLC Decreases Holdings in Square, Inc. (NYSE:SQ)

Crossvault Capital Management LLC trimmed its position in Square, Inc. (NYSE:SQ) by 21.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,822 shares of the technology company’s stock after selling 12,011 shares during the quarter. Square accounts for 3.5% of Crossvault Capital Management LLC’s holdings, making the stock its 8th largest holding. Crossvault Capital Management LLC’s holdings in Square were worth $9,950,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Jennison Associates LLC boosted its position in Square by 33,045.6% in the fourth quarter. Jennison Associates LLC now owns 8,594,646 shares of the technology company’s stock valued at $1,870,539,000 after buying an additional 8,568,716 shares in the last quarter. Norges Bank bought a new position in Square during the fourth quarter worth $597,618,000. Northern Trust Corp raised its stake in Square by 4.8% during the fourth quarter. Northern Trust Corp now owns 2,482,612 shares of the technology company’s stock worth $540,316,000 after buying an additional 112,857 shares during the last quarter. Winslow Capital Management LLC raised its stake in Square by 231.5% during the fourth quarter. Winslow Capital Management LLC now owns 1,646,297 shares of the technology company’s stock worth $358,300,000 after buying an additional 1,149,672 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Square by 3.9% during the first quarter. Fisher Asset Management LLC now owns 1,448,537 shares of the technology company’s stock worth $328,890,000 after buying an additional 54,332 shares during the last quarter. Hedge funds and other institutional investors own 64.01% of the company’s stock.

In other news, CFO Amrita Ahuja sold 4,994 shares of the stock in a transaction on Friday, April 23rd. The shares were sold at an average price of $243.80, for a total value of $1,217,537.20. Following the transaction, the chief financial officer now owns 147,873 shares of the company’s stock, valued at approximately $36,051,437.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jack Dorsey sold 100,000 shares of the stock in a transaction on Monday, February 8th. The stock was sold at an average price of $249.61, for a total transaction of $24,961,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,255,322 shares of company stock worth $301,511,701 in the last three months. Insiders own 21.79% of the company’s stock.

SQ has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Square from $255.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, February 17th. Evercore ISI lifted their price target on shares of Square from $300.00 to $304.00 and gave the company an “average” rating in a research note on Thursday, January 14th. Piper Sandler lifted their price target on shares of Square from $190.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, March 2nd. Zacks Investment Research raised shares of Square from a “hold” rating to a “strong-buy” rating and set a $278.00 target price for the company in a research report on Monday, January 11th. Finally, Redburn Partners assumed coverage on shares of Square in a research report on Thursday, March 18th. They set a “sell” rating for the company. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $225.05.

Square stock traded down $6.97 during midday trading on Tuesday, reaching $236.71. 141,450 shares of the stock were exchanged, compared to its average volume of 10,521,831. The company’s fifty day moving average is $240.18 and its 200-day moving average is $222.87. The firm has a market cap of $107.61 billion, a PE ratio of 370.26, a PEG ratio of 29.50 and a beta of 2.71. Square, Inc. has a 52 week low of $61.09 and a 52 week high of $283.19. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 1.70.

Square (NYSE:SQ) last issued its quarterly earnings results on Tuesday, February 23rd. The technology company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.08. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.11 billion. Square had a net margin of 4.05% and a negative return on equity of 0.01%. The business’s revenue for the quarter was up 139.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 EPS. On average, sell-side analysts anticipate that Square, Inc. will post -0.03 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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