Nomura Asset Management Co. Ltd. purchased a new stake in Square Inc (NYSE:SQ) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,269,500 shares of the technology company’s stock, valued at approximately $36,574,000. Nomura Asset Management Co. Ltd. owned about 0.33% of Square as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also bought and sold shares of the company. FMR LLC grew its stake in shares of Square by 114.7% in the 2nd quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after buying an additional 12,764,491 shares during the period. Vanguard Group Inc. grew its position in Square by 73.4% during the 2nd quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock worth $446,558,000 after purchasing an additional 8,058,892 shares during the last quarter. Capital World Investors grew its position in Square by 32.8% during the 2nd quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock worth $365,925,000 after purchasing an additional 3,853,000 shares during the last quarter. Renaissance Technologies LLC grew its position in Square by 5.8% during the 2nd quarter. Renaissance Technologies LLC now owns 9,076,600 shares of the technology company’s stock worth $212,937,000 after purchasing an additional 498,100 shares during the last quarter. Finally, BlackRock Inc. grew its position in Square by 23.0% during the 2nd quarter. BlackRock Inc. now owns 6,618,987 shares of the technology company’s stock worth $155,282,000 after purchasing an additional 1,235,662 shares during the last quarter. 54.31% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on SQ shares. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Tuesday, October 3rd. Barclays lifted their target price on shares of Square from $28.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, November 9th. Canaccord Genuity reaffirmed a “hold” rating and issued a $26.00 target price (up previously from $18.00) on shares of Square in a report on Wednesday, August 9th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $26.00 target price (up previously from $25.00) on shares of Square in a report on Wednesday, August 9th. Finally, Vetr downgraded shares of Square from a “buy” rating to a “hold” rating and set a $31.08 target price on the stock. in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have assigned a buy rating to the stock. Square currently has an average rating of “Buy” and an average price target of $33.82.
Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The company had revenue of $257.12 million during the quarter, compared to the consensus estimate of $244.95 million. During the same period in the previous year, the firm earned $0.01 earnings per share. Square’s revenue for the quarter was up 44.6% on a year-over-year basis. research analysts predict that Square Inc will post -0.16 earnings per share for the current fiscal year.
In other news, CFO Sarah Friar sold 19,200 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $28.41, for a total value of $545,472.00. Following the completion of the transaction, the chief financial officer now directly owns 366,103 shares in the company, valued at $10,400,986.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $27.22, for a total transaction of $10,888,000.00. Following the completion of the transaction, the director now owns 507,385 shares of the company’s stock, valued at $13,811,019.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,425,591 shares of company stock valued at $47,976,777. 32.68% of the stock is owned by insiders.
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Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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