California State Teachers Retirement System Decreases Stake in Square Inc (SQ)

California State Teachers Retirement System lessened its stake in Square Inc (NYSE:SQ) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 391,807 shares of the technology company’s stock after selling 3,950 shares during the quarter. California State Teachers Retirement System owned about 0.10% of Square worth $11,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SQ. FMR LLC boosted its holdings in Square by 114.7% in the 2nd quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock worth $560,427,000 after acquiring an additional 12,764,491 shares during the period. Vanguard Group Inc. boosted its holdings in Square by 73.4% in the 2nd quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock worth $446,558,000 after acquiring an additional 8,058,892 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Square by 556.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock worth $107,786,000 after acquiring an additional 3,894,639 shares during the period. Capital World Investors raised its position in shares of Square by 32.8% in the 2nd quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after purchasing an additional 3,853,000 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Square by 23.0% in the 2nd quarter. BlackRock Inc. now owns 6,618,987 shares of the technology company’s stock valued at $155,282,000 after purchasing an additional 1,235,662 shares in the last quarter. Hedge funds and other institutional investors own 54.20% of the company’s stock.

In other Square news, CAO Ajmere Dale sold 17,446 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $38.98, for a total value of $680,045.08. Following the sale, the chief accounting officer now directly owns 134,518 shares of the company’s stock, valued at $5,243,511.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sarah Friar sold 38,400 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $32.81, for a total value of $1,259,904.00. The disclosure for this sale can be found here. Insiders sold 1,666,530 shares of company stock worth $61,937,547 over the last ninety days. 32.68% of the stock is owned by corporate insiders.

SQ has been the topic of a number of recent analyst reports. Goldman Sachs Group raised Square to a “buy” rating in a research report on Thursday, November 16th. Vetr raised Square from a “buy” rating to a “strong-buy” rating and set a $39.78 target price on the stock in a research report on Wednesday, October 25th. Evercore ISI raised Square from an “in-line” rating to an “outperform” rating and set a $51.00 target price on the stock in a research report on Friday, November 17th. Stephens reaffirmed an “overweight” rating and issued a $38.00 target price (up from $34.00) on shares of Square in a research report on Thursday, November 9th. They noted that the move was a valuation call. Finally, Guggenheim raised Square from a “neutral” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Square currently has an average rating of “Buy” and an average target price of $34.45.

Shares of Square Inc (NYSE:SQ) opened at $35.14 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. The stock has a market capitalization of $13,937.86, a P/E ratio of -219.63 and a beta of 4.80. Square Inc has a 52-week low of $13.53 and a 52-week 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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The firm had revenue of $257.12 million for the quarter, compared to analyst estimates of $244.95 million. During the same period last year, the company earned $0.01 earnings per share. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. research analysts predict that Square Inc will post -0.16 earnings per share for the current year.

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Square Company Profile

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.

Institutional Ownership by Quarter for Square (NYSE:SQ)

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