Square, Inc. (NYSE:SQ) Position Cut by Wealthfront Advisers LLC

Wealthfront Advisers LLC trimmed its position in Square, Inc. (NYSE:SQ) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,392 shares of the technology company’s stock after selling 1,245 shares during the quarter. Wealthfront Advisers LLC’s holdings in Square were worth $1,153,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Capital Investment Advisory Services LLC acquired a new stake in Square in the fourth quarter valued at approximately $47,000. Janney Montgomery Scott LLC lifted its holdings in shares of Square by 17.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 26,739 shares of the technology company’s stock worth $1,500,000 after purchasing an additional 3,886 shares during the period. Western Wealth Management LLC lifted its holdings in shares of Square by 1.9% during the first quarter. Western Wealth Management LLC now owns 14,395 shares of the technology company’s stock worth $1,063,000 after purchasing an additional 270 shares during the period. Legacy Bridge LLC lifted its holdings in shares of Square by 3.2% during the first quarter. Legacy Bridge LLC now owns 6,360 shares of the technology company’s stock worth $476,000 after purchasing an additional 200 shares during the period. Finally, Aldebaran Financial Inc. lifted its holdings in shares of Square by 0.9% during the first quarter. Aldebaran Financial Inc. now owns 17,400 shares of the technology company’s stock worth $1,304,000 after purchasing an additional 150 shares during the period. 52.11% of the stock is currently owned by institutional investors and hedge funds.

In other Square news, insider Jacqueline D. Reses sold 5,000 shares of Square stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $68.35, for a total value of $341,750.00. Following the completion of the sale, the insider now directly owns 413,593 shares of the company’s stock, valued at $28,269,081.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jack Dorsey sold 103,035 shares of Square stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $74.23, for a total transaction of $7,648,288.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 425,091 shares of company stock valued at $31,588,655. Insiders own 21.79% of the company’s stock.

NYSE SQ traded down $0.43 during mid-day trading on Friday, reaching $71.75. 285,389 shares of the stock were exchanged, compared to its average volume of 7,626,831. Square, Inc. has a one year low of $49.82 and a one year high of $101.15. The company has a market capitalization of $29.80 billion, a PE ratio of 3,586.50, a P/E/G ratio of 11.72 and a beta of 3.42. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.91.

Square (NYSE:SQ) last announced its earnings results on Wednesday, May 1st. The technology company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.09). Square had a positive return on equity of 1.86% and a negative net margin of 1.47%. The firm had revenue of $489.00 million for the quarter, compared to the consensus estimate of $479.63 million. During the same period in the prior year, the business earned $0.06 EPS. Square’s quarterly revenue was up 59.3% on a year-over-year basis. As a group, equities analysts expect that Square, Inc. will post 0.15 earnings per share for the current fiscal year.

A number of brokerages have recently commented on SQ. Macquarie began coverage on shares of Square in a report on Wednesday, March 27th. They set an “outperform” rating and a $94.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target (down previously from $95.00) on shares of Square in a report on Thursday, May 2nd. Mizuho lifted their price target on shares of Square from $75.00 to $85.00 in a report on Thursday, February 28th. SunTrust Banks lifted their price target on shares of Square to $75.00 and gave the stock a “hold” rating in a report on Thursday, February 28th. Finally, Zacks Investment Research lowered shares of Square from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $86.14.

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Square 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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