Gladstone Capital Management LLP lowered its stake in Square, Inc. (NYSE:SQ) by 50.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 674,980 shares of the technology company’s stock after selling 698,842 shares during the period. Square comprises about 13.8% of Gladstone Capital Management LLP’s investment portfolio, making the stock its 4th largest position. Gladstone Capital Management LLP’s holdings in Square were worth $15,410,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Square by 0.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock valued at $175,000 after buying an additional 30 shares during the last quarter. Stifel Financial Corp raised its position in Square by 1.8% in the first quarter. Stifel Financial Corp now owns 26,635 shares of the technology company’s stock valued at $461,000 after buying an additional 473 shares during the period. First Mercantile Trust Co. raised its position in Square by 2.2% in the first quarter. First Mercantile Trust Co. now owns 31,641 shares of the technology company’s stock valued at $547,000 after buying an additional 690 shares during the period. Guggenheim Capital LLC raised its position in Square by 4.0% in the fourth quarter. Guggenheim Capital LLC now owns 18,680 shares of the technology company’s stock valued at $255,000 after buying an additional 727 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in Square by 5.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 19,810 shares of the technology company’s stock valued at $270,000 after buying an additional 1,070 shares during the period. 76.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Square, Inc. (NYSE:SQ) opened at 23.59 on Monday. The firm’s 50-day moving average price is $22.69 and its 200-day moving average price is $17.72. Square, Inc. has a one year low of $9.10 and a one year high of $24.97. The company’s market capitalization is $8.83 billion.
Square (NYSE:SQ) last announced its earnings results on Wednesday, May 3rd. The technology company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.05. Square had a negative net margin of 5.02% and a negative return on equity of 15.81%. The business had revenue of $461.55 million during the quarter, compared to the consensus estimate of $450.66 million. Analysts anticipate that Square, Inc. will post ($0.19) earnings per share for the current year.
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SQ has been the subject of several research analyst reports. Mizuho reissued a “buy” rating on shares of Square in a research report on Monday, March 20th. Raymond James Financial, Inc. initiated coverage on Square in a research report on Tuesday, March 21st. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $17.00 price objective on shares of Square in a research report on Monday, March 27th. BTIG Research reissued a “buy” rating and issued a $20.00 price objective on shares of Square in a research report on Tuesday, March 28th. Finally, Vetr lowered Square from a “strong-buy” rating to a “buy” rating and set a $19.66 price objective for the company. in a research report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Square has a consensus rating of “Buy” and a consensus target price of $20.86.
In other Square news, Director James Morgan Jr. Mckelvey sold 90,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 11th. The shares were sold at an average price of $16.78, for a total transaction of $1,510,200.00. Following the completion of the transaction, the director now owns 186,308 shares of the company’s stock, valued at $3,126,248.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jack Dorsey sold 381,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $16.96, for a total transaction of $6,470,240.00. The disclosure for this sale can be found here. Insiders have sold 1,767,738 shares of company stock valued at $34,785,364 in the last ninety days. Insiders own 32.68% of the company’s stock.
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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