Wedgewood Investors Inc. PA Purchases Shares of 995 Square, Inc. (NYSE:SQ)


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Wedgewood Investors Inc. PA acquired a new stake in shares of Square, Inc. (NYSE:SQ) during the first quarter, HoldingsChannel reports. The firm acquired 995 shares of the technology company’s stock, valued at approximately $226,000.

Several other large investors have also added to or reduced their stakes in SQ. Rockbridge Investment Management LCC increased its position in shares of Square by 156.0% during the 4th quarter. Rockbridge Investment Management LCC now owns 128 shares of the technology company’s stock worth $28,000 after purchasing an additional 78 shares in the last quarter. Retirement Group LLC acquired a new stake in Square during the 4th quarter valued at $29,000. Arlington Partners LLC acquired a new position in Square in the fourth quarter worth $30,000. Childress Capital Advisors LLC acquired a new position in Square during the 4th quarter worth about $32,000. Finally, Community Bank N.A. acquired a new stake in Square in the 4th quarter valued at about $36,000. 64.01% of the stock is owned by institutional investors.

Several research firms recently issued reports on SQ. Rosenblatt Securities raised their price target on Square from $300.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, March 2nd. BMO Capital Markets upped their target price on shares of Square from $229.00 to $237.00 and gave the company a “market perform” rating in a research report on Thursday, February 25th. The Goldman Sachs Group increased their target price on Square from $216.00 to $246.00 and gave the company a “neutral” rating in a research note on Tuesday, March 2nd. Evercore ISI boosted their target price on Square from $300.00 to $304.00 and gave the stock an “average” rating in a research report on Thursday, January 14th. Finally, Redburn Partners began coverage on shares of Square in a research report on Thursday, March 18th. They set a “sell” rating on the stock. Three 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 issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $225.05.

In related news, CFO Amrita Ahuja sold 4,994 shares of the company’s stock in a transaction that occurred on Tuesday, February 23rd. The shares were sold at an average price of $248.00, for a total transaction of $1,238,512.00. Following the sale, the chief financial officer now owns 152,304 shares of the company’s stock, valued at approximately $37,771,392. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jack Dorsey sold 100,000 shares of the stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $249.61, for a total transaction of $24,961,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,255,322 shares of company stock valued at $301,511,701. Insiders own 21.79% of the company’s stock.

SQ stock traded down $12.18 during mid-day trading on Tuesday, reaching $231.50. 192,562 shares of the company traded hands, compared to its average volume of 10,521,831. The stock has a market cap of $105.24 billion, a price-to-earnings ratio of 370.26, a P/E/G ratio of 29.50 and a beta of 2.71. Square, Inc. has a fifty-two week low of $61.09 and a fifty-two week high of $283.19. The firm’s 50 day moving average price is $240.18 and its 200 day moving average price is $222.87. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.85.

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

About Square

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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