State Board of Administration of Florida Retirement System Raises Holdings in Square, Inc. (SQ)

State Board of Administration of Florida Retirement System boosted its holdings in shares of Square, Inc. (NYSE:SQ) by 3.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 324,832 shares of the technology company’s stock after purchasing an additional 11,901 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.08% of Square worth $15,982,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its position in Square by 18.4% during the 4th quarter. BlackRock Inc. now owns 13,005,859 shares of the technology company’s stock worth $450,913,000 after purchasing an additional 2,024,019 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Square by 20.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,347,685 shares of the technology company’s stock valued at $213,906,000 after acquiring an additional 752,364 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in shares of Square by 7.4% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,153,187 shares of the technology company’s stock valued at $143,990,000 after acquiring an additional 284,712 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Square in the fourth quarter valued at about $86,426,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Square by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 2,147,173 shares of the technology company’s stock valued at $74,398,000 after acquiring an additional 179,830 shares in the last quarter. 53.98% of the stock is currently owned by institutional investors.

In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $45.66, for a total value of $18,264,000.00. Following the completion of the sale, the director now directly owns 468,020 shares in the company, valued at $21,369,793.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jacqueline D. Reses sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $45.18, for a total transaction of $677,700.00. Following the completion of the sale, the insider now owns 599,961 shares of the company’s stock, valued at $27,106,237.98. The disclosure for this sale can be found here. In the last three months, insiders sold 1,710,855 shares of company stock valued at $85,414,508. Company insiders own 32.68% of the company’s stock.

SQ has been the topic of several analyst reports. Nomura reaffirmed a “buy” rating and issued a $64.00 target price (up previously from $48.00) on shares of Square in a report on Friday, January 19th. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Monday, February 5th. Vetr raised shares of Square from a “hold” rating to a “buy” rating and set a $57.03 target price on the stock in a report on Monday, March 19th. Craig Hallum downgraded shares of Square from a “hold” rating to a “sell” rating and set a $37.00 target price on the stock. in a report on Friday, March 23rd. Finally, Susquehanna Bancshares lifted their target price on shares of Square from $43.00 to $51.00 and gave the company a “positive” rating in a report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $45.78.

Square opened at $56.59 on Thursday, MarketBeat.com reports. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $21.75 billion, a PE ratio of -565.90 and a beta of 4.24. Square, Inc. has a 1-year low of $54.48 and a 1-year high of $55.85.

Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, May 2nd. The technology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $307.00 million during the quarter, compared to analyst estimates of $293.07 million. Square had a negative net margin of 2.96% and a negative return on equity of 7.03%. The company’s revenue was up 50.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 earnings per share. research analysts anticipate that Square, Inc. will post 0.01 earnings per share for the current fiscal year.

Square 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.

Institutional Ownership by Quarter for Square (NYSE:SQ)

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