RiverPark Advisors LLC Acquires New Position in Square, Inc. (NYSE:SQ)

RiverPark Advisors LLC bought a new stake in Square, Inc. (NYSE:SQ) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 29,903 shares of the technology company’s stock, valued at approximately $6,789,000.

Other institutional investors also recently modified their holdings of the company. Berman Capital Advisors LLC boosted its position in Square by 27.2% during the fourth quarter. Berman Capital Advisors LLC now owns 1,094 shares of the technology company’s stock worth $237,000 after acquiring an additional 234 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Square during the 4th quarter worth $309,000. Eaton Vance Management increased its stake in Square by 10.5% during the 4th quarter. Eaton Vance Management now owns 417,849 shares of the technology company’s stock worth $90,941,000 after buying an additional 39,594 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Square by 1.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,591 shares of the technology company’s stock worth $2,523,000 after purchasing an additional 131 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Square by 2.4% in the 4th quarter. Janus Henderson Group PLC now owns 84,620 shares of the technology company’s stock worth $18,420,000 after purchasing an additional 1,954 shares during the last quarter. 62.66% of the stock is owned by institutional investors.

In related news, CAO Ajmere Dale sold 1,000 shares of Square stock in a transaction dated Tuesday, June 29th. The stock was sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the transaction, the chief accounting officer now owns 41,293 shares in the company, valued at approximately $10,323,250. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jack Dorsey sold 100,000 shares of Square stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $249.33, for a total value of $24,933,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 973,985 shares of company stock valued at $222,515,001. 15.12% of the stock is currently owned by insiders.

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of Square from a “market perform” rating to an “outperform” rating and set a $250.00 price objective for the company in a research report on Wednesday, March 31st. Rosenblatt Securities upped their price target on shares of Square from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, May 7th. Credit Suisse Group boosted their target price on shares of Square from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Square from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, May 7th. Finally, Barclays boosted their price target on shares of Square from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, April 20th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $252.74.

Shares of NYSE SQ traded up $2.38 during midday trading on Thursday, hitting $259.63. The company’s stock had a trading volume of 167,299 shares, compared to its average volume of 6,508,354. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average price is $227.85. Square, Inc. has a 12-month low of $117.00 and a 12-month high of $283.19. The firm has a market capitalization of $118.23 billion, a price-to-earnings ratio of 361.62, a P/E/G ratio of 10.74 and a beta of 2.41.

Square (NYSE:SQ) last announced its earnings results on Thursday, May 6th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.45. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Square had a return on equity of 9.32% and a net margin of 2.72%. The business’s revenue for the quarter was up 266.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) EPS. As a group, research analysts expect that Square, Inc. will post 0.49 EPS for the current 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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