Mn Services Vermogensbeheer B.V. raised its stake in Square, Inc. (NYSE:SQ) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,500 shares of the technology company’s stock after buying an additional 1,700 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Square were worth $4,604,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Square by 8.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,700,722 shares of the technology company’s stock valued at $289,753,000 after buying an additional 353,037 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of Square by 8.5% in the second quarter. Nikko Asset Management Americas Inc. now owns 3,715,894 shares of the technology company’s stock valued at $229,048,000 after buying an additional 290,136 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Square by 8.7% in the second quarter. Janus Henderson Group PLC now owns 1,756,402 shares of the technology company’s stock valued at $108,265,000 after buying an additional 140,800 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Square by 10.0% in the second quarter. Northern Trust Corp now owns 1,681,310 shares of the technology company’s stock valued at $103,635,000 after buying an additional 153,458 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Square by 87.2% in the third quarter. American Century Companies Inc. now owns 1,549,633 shares of the technology company’s stock valued at $153,429,000 after buying an additional 721,843 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors.
In other news, insider Sivan Whiteley sold 1,875 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $77.70, for a total value of $145,687.50. Following the transaction, the insider now directly owns 121,708 shares of the company’s stock, valued at $9,456,711.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $71.26, for a total transaction of $28,504,000.00. Following the completion of the transaction, the director now directly owns 472,175 shares in the company, valued at $33,647,190.50. The disclosure for this sale can be found here. Insiders sold 2,597,615 shares of company stock worth $208,057,083 over the last ninety days. 27.99% of the stock is currently owned by company insiders.
SQ has been the topic of several research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price target (up previously from $76.00) on shares of Square in a report on Wednesday, September 19th. Guggenheim reaffirmed a “buy” rating and issued a $73.00 price target on shares of Square in a report on Friday, July 13th. BTIG Research initiated coverage on Square in a report on Thursday, October 11th. They issued a “sell” rating on the stock. Canaccord Genuity raised Square from a “hold” rating to a “buy” rating and upped their price target for the company from $60.00 to $90.00 in a report on Friday, October 12th. Finally, Oppenheimer cut Square from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 10th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $73.36.
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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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