Crossvault Capital Management LLC Trims Holdings in Square, Inc. (NYSE:SQ)


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Crossvault Capital Management LLC lowered its stake in shares of Square, Inc. (NYSE:SQ) by 21.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,822 shares of the technology company’s stock after selling 12,011 shares during the period. Square accounts for about 3.5% of Crossvault Capital Management LLC’s investment portfolio, making the stock its 8th largest position. Crossvault Capital Management LLC’s holdings in Square were worth $9,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. IHT Wealth Management LLC bought a new stake in Square in the third quarter worth $264,000. Eudaimonia Partners LLC increased its position in Square by 44.9% in the third quarter. Eudaimonia Partners LLC now owns 1,815 shares of the technology company’s stock worth $295,000 after purchasing an additional 562 shares during the last quarter. Brinker Capital Investments LLC bought a new stake in Square in the third quarter worth $2,045,000. Mercer Global Advisors Inc. ADV increased its position in Square by 10.1% in the third quarter. Mercer Global Advisors Inc. ADV now owns 7,674 shares of the technology company’s stock worth $1,247,000 after purchasing an additional 703 shares during the last quarter. Finally, HM Payson & Co. increased its position in Square by 370.0% in the third quarter. HM Payson & Co. now owns 940 shares of the technology company’s stock worth $153,000 after purchasing an additional 740 shares during the last quarter. Hedge funds and other institutional investors own 64.01% of the company’s stock.

In related news, CEO Jack Dorsey sold 100,000 shares of the firm’s stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $249.61, for a total transaction of $24,961,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary G. Meeker sold 8,207 shares of Square stock in a transaction dated Tuesday, March 2nd. The shares were sold at an average price of $252.19, for a total value of $2,069,723.33. Following the completion of the transaction, the director now owns 400,175 shares of the company’s stock, valued at approximately $100,920,133.25. The disclosure for this sale can be found here. Insiders sold a total of 1,255,322 shares of company stock valued at $301,511,701 over the last ninety days. Corporate insiders own 21.79% of the company’s stock.

A number of research analysts have weighed in on the stock. Canaccord Genuity boosted their price objective on shares of Square from $200.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, March 2nd. Royal Bank of Canada boosted their price objective on shares of Square from $257.00 to $305.00 and gave the company an “outperform” rating in a research report on Tuesday, March 2nd. KeyCorp boosted their price objective on shares of Square from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, January 15th. Redburn Partners assumed coverage on shares of Square in a research report on Thursday, March 18th. They set a “sell” rating on the stock. Finally, Keefe, Bruyette & Woods upgraded shares of Square from a “market perform” rating to an “outperform” rating and set a $250.00 price objective on the stock in a research report on Wednesday, March 31st. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $225.05.

Shares of NYSE:SQ traded down $6.97 during midday trading on Tuesday, reaching $236.71. 141,450 shares of the company’s stock traded hands, compared to its average volume of 10,521,831. Square, Inc. has a 1 year low of $61.09 and a 1 year high of $283.19. The company has a market cap of $107.61 billion, a P/E ratio of 370.26, a PEG ratio of 29.50 and a beta of 2.71. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 1.70. The company has a fifty day simple moving average of $240.18 and a two-hundred day simple moving average of $222.87.

Square (NYSE:SQ) last announced its earnings results on Tuesday, February 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.11 billion. Square had a negative return on equity of 0.01% and a net margin of 4.05%. The business’s revenue was up 139.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. As a group, research analysts forecast that Square, Inc. will post -0.03 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Square (NYSE:SQ)

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