FDx Advisors Inc. boosted its stake in Square, Inc. (NYSE:SQ) by 1,385.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 39,660 shares of the technology company’s stock after purchasing an additional 36,991 shares during the period. FDx Advisors Inc.’s holdings in Square were worth $2,225,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the stock. TCI Wealth Advisors Inc. increased its stake in Square by 171.5% in the fourth quarter. TCI Wealth Advisors Inc. now owns 524 shares of the technology company’s stock valued at $29,000 after purchasing an additional 331 shares in the last quarter. Whitener Capital Management Inc. boosted its holdings in shares of Square by 55.6% in the fourth quarter. Whitener Capital Management Inc. now owns 700 shares of the technology company’s stock valued at $39,000 after buying an additional 250 shares during the period. Capital Investment Advisory Services LLC acquired a new position in shares of Square in the fourth quarter valued at approximately $47,000. Ipswich Investment Management Co. Inc. bought a new stake in Square during the fourth quarter worth $48,000. Finally, River Wealth Advisors LLC bought a new stake in Square during the fourth quarter worth $51,000. Hedge funds and other institutional investors own 50.58% of the company’s stock.
In related news, CEO Jack Dorsey sold 103,035 shares of the company’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $66.20, for a total transaction of $6,820,917.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ajmere Dale sold 2,048 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $71.76, for a total value of $146,964.48. Following the transaction, the insider now directly owns 88,621 shares in the company, valued at $6,359,442.96. The disclosure for this sale can be found here. Insiders sold a total of 1,730,187 shares of company stock valued at $111,656,600 over the last quarter. Company insiders own 27.99% of the company’s stock.
Several equities analysts have recently weighed in on SQ shares. ValuEngine raised shares of Square from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 25th. Nomura increased their price objective on shares of Square from $107.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, January 8th. Wolfe Research upgraded shares of Square from a “market perform” rating to an “outperform” rating in a research note on Friday, January 4th. Piper Jaffray Companies reduced their price target on shares of Square from $92.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, December 21st. Finally, Raymond James downgraded shares of Square from a “market perform” rating to an “underperform” rating and set a $73.29 price target on the stock. in a research note on Tuesday, January 29th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Square presently has an average rating of “Buy” and an average target price of $83.55.
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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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