Iron Financial LLC Takes Position in Square, Inc. (SQ)

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Iron Financial LLC bought a new position in Square, Inc. (NYSE:SQ) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,500 shares of the technology company’s stock, valued at approximately $248,000.

Other hedge funds have also recently modified their holdings of the company. Oakbrook Investments LLC raised its stake in shares of Square by 107.5% during the 3rd quarter. Oakbrook Investments LLC now owns 8,880 shares of the technology company’s stock valued at $879,000 after buying an additional 4,600 shares during the last quarter. Aperio Group LLC increased its stake in shares of Square by 62.7% in the 3rd quarter. Aperio Group LLC now owns 69,258 shares of the technology company’s stock valued at $6,857,000 after purchasing an additional 26,700 shares in the last quarter. Highland Capital Management LLC purchased a new position in shares of Square in the 3rd quarter valued at about $327,000. Chickasaw Capital Management LLC purchased a new position in shares of Square in the 3rd quarter valued at about $533,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Square by 1,943.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 26,562 shares of the technology company’s stock valued at $2,630,000 after purchasing an additional 25,262 shares in the last quarter. Institutional investors own 51.86% of the company’s stock.

In other Square news, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $97.67, for a total value of $10,063,428.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sivan Whiteley sold 1,875 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $69.84, for a total value of $130,950.00. Following the completion of the sale, the insider now directly owns 526,299 shares in the company, valued at approximately $36,756,722.16. The disclosure for this sale can be found here. Insiders sold 1,888,510 shares of company stock worth $156,182,876 over the last quarter. 27.99% of the stock is currently owned by insiders.

Shares of Square stock traded down $3.39 on Thursday, hitting $74.66. 475,478 shares of the company were exchanged, compared to its average volume of 13,180,417. The stock has a market cap of $40.64 billion, a P/E ratio of -769.30 and a beta of 4.33. Square, Inc. has a 1-year low of $31.44 and a 1-year high of $101.15. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.18 and a quick ratio of 2.18.

Square (NYSE:SQ) last issued its earnings results on Wednesday, August 1st. The technology company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.14. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. The business had revenue of $385.00 million for the quarter, compared to analysts’ expectations of $367.99 million. During the same period in the previous year, the firm posted $0.07 EPS. The business’s revenue for the quarter was up 60.4% compared to the same quarter last year. As a group, research analysts expect that Square, Inc. will post -0.04 EPS for the current fiscal year.

Several equities analysts recently weighed in on the company. SunTrust Banks lifted their price target on Square from $45.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, June 29th. Citigroup lifted their price target on Square from $47.00 to $67.00 and gave the company a “neutral” rating in a research note on Thursday, June 28th. Zacks Investment Research lowered Square from a “hold” rating to a “sell” rating in a research note on Tuesday, July 3rd. Piper Jaffray Companies lifted their price target on Square to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, July 10th. Finally, Needham & Company LLC lifted their price target on Square from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Square presently has a consensus rating of “Hold” and a consensus price target of $72.64.

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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