New York State Common Retirement Fund Lowers Stake in Square Inc (SQ)

New York State Common Retirement Fund cut its stake in shares of Square Inc (NYSE:SQ) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 493,800 shares of the technology company’s stock after selling 8,712 shares during the period. New York State Common Retirement Fund owned 0.13% of Square worth $14,226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Almanack Investment Partners LLC. purchased a new stake in Square during the 2nd quarter worth $117,000. Riverhead Capital Management LLC purchased a new stake in Square during the 2nd quarter worth $149,000. Hudock Capital Group LLC purchased a new stake in Square during the 3rd quarter worth $157,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Square by 19.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after purchasing an additional 1,099 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Square by 42.2% during the 2nd quarter. Pacer Advisors Inc. now owns 8,368 shares of the technology company’s stock worth $196,000 after purchasing an additional 2,485 shares during the period. 54.31% of the stock is owned by institutional investors.

SQ has been the subject of a number of research reports. Citigroup upped their price target on shares of Square from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Vetr cut shares of Square from a “strong-buy” rating to a “buy” rating and set a $30.12 price target for the company. in a research report on Tuesday, September 12th. Goldman Sachs Group upgraded shares of Square to a “buy” rating in a report on Thursday, November 16th. Oppenheimer started coverage on shares of Square in a report on Thursday, October 12th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $33.88.

In related news, Director Mary G. Meeker sold 51,422 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $38.25, for a total transaction of $1,966,891.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $28.36, for a total transaction of $1,089,024.00. Following the sale, the chief financial officer now owns 366,103 shares in the company, valued at approximately $10,382,681.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,599,027 shares of company stock worth $58,943,174. Company insiders own 32.68% of the company’s stock.

Shares of Square Inc (NYSE:SQ) opened at $37.03 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81. Square Inc has a 12 month low of $13.53 and a 12 month high of $49.56.

Square (NYSE:SQ) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $257.12 million for the quarter, compared to analyst estimates of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 EPS. equities research analysts forecast that Square Inc will post -0.16 EPS for the current year.

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About Square

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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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