Strs Ohio cut its holdings in shares of Square, Inc. (NYSE:SQ) by 10.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,532 shares of the technology company’s stock after selling 675 shares during the period. Strs Ohio’s holdings in Square were worth $547,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in SQ. Meridian Wealth Management LLC bought a new position in shares of Square during the third quarter worth about $3,691,000. Seven Eight Capital LP bought a new position in Square in the third quarter worth about $11,935,000. Iron Financial LLC bought a new position in Square in the third quarter worth about $248,000. Oakbrook Investments LLC lifted its holdings in Square by 107.5% in the third quarter. Oakbrook Investments LLC now owns 8,880 shares of the technology company’s stock worth $879,000 after acquiring an additional 4,600 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in Square by 62.7% in the third quarter. Aperio Group LLC now owns 69,258 shares of the technology company’s stock worth $6,857,000 after acquiring an additional 26,700 shares during the last quarter. Institutional investors own 51.25% of the company’s stock.
In related news, insider Sivan Whiteley sold 5,224 shares of the firm’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $99.41, for a total transaction of $519,317.84. Following the transaction, the insider now owns 490,344 shares in the company, valued at $48,745,097.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $88.04, for a total transaction of $35,216,000.00. Following the transaction, the director now owns 472,175 shares in the company, valued at approximately $41,570,287. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,300,650 shares of company stock worth $187,755,700. Corporate insiders own 27.99% of the company’s stock.
Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. The company had revenue of $431.00 million for the quarter, compared to analysts’ expectations of $414.19 million. Square had a negative return on equity of 1.18% and a negative net margin of 0.87%. The business’s revenue for the quarter was up 67.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 earnings per share. As a group, research analysts expect that Square, Inc. will post -0.04 earnings per share for the current fiscal year.
SQ has been the topic of a number of recent research reports. Morgan Stanley raised their target price on shares of Square from $43.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, July 19th. Royal Bank of Canada raised their target price on shares of Square to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 2nd. Evercore ISI set a $101.00 target price on shares of Square and gave the stock an “outperform” rating in a report on Friday, September 21st. Deutsche Bank raised their target price on shares of Square from $57.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. Finally, Wolfe Research initiated coverage on shares of Square in a report on Tuesday, July 17th. They issued a “market perform” rating on the stock. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.59.
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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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