Evergreen Capital Management LLC Cuts Stake in Square, Inc. (SQ)

Evergreen Capital Management LLC trimmed its position in Square, Inc. (NYSE:SQ) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,304 shares of the technology company’s stock after selling 2,000 shares during the period. Evergreen Capital Management LLC’s holdings in Square were worth $3,213,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of Square in the fourth quarter valued at about $110,000. Envestnet Asset Management Inc. increased its position in shares of Square by 1,476.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,317 shares of the technology company’s stock valued at $114,000 after acquiring an additional 2,170 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Square in the fourth quarter valued at about $139,000. American International Group Inc. acquired a new stake in shares of Square in the fourth quarter valued at about $200,000. Finally, Commerce Bank acquired a new stake in shares of Square in the fourth quarter valued at about $201,000. 51.98% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on the company. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Tuesday, May 1st. Vetr raised Square from a “hold” rating to a “buy” rating and set a $57.03 price target on the stock in a research report on Monday, March 19th. KeyCorp boosted their price target on Square from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, April 23rd. Credit Suisse Group boosted their price target on Square from $37.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, Deutsche Bank boosted their price target on Square from $47.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, March 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $46.51.

Shares of SQ stock opened at $55.77 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market capitalization of $22.35 billion, a P/E ratio of -557.70 and a beta of 4.24. Square, Inc. has a 1 year low of $22.22 and a 1 year high of $58.46.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $307.00 million during the quarter, compared to analysts’ expectations of $293.07 million. Square had a negative return on equity of 7.03% and a negative net margin of 2.96%. The firm’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 earnings per share. analysts predict that Square, Inc. will post 0.01 earnings per share for the current year.

In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $55.13, for a total transaction of $22,052,000.00. Following the completion of the sale, the director now directly owns 468,223 shares in the company, valued at $25,813,133.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sarah Friar sold 39,200 shares of the company’s stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $50.07, for a total value of $1,962,744.00. Following the sale, the chief financial officer now owns 346,649 shares of the company’s stock, valued at $17,356,715.43. The disclosure for this sale can be found here. Insiders have sold 1,310,855 shares of company stock valued at $67,150,508 over the last 90 days. Corporate insiders own 27.99% of the company’s stock.

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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