Alpine Group USVI LLC bought a new stake in shares of Square, Inc. (NYSE:SQ) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 603,801 shares of the technology company’s stock, valued at approximately $37,405,000. Square accounts for 9.6% of Alpine Group USVI LLC’s holdings, making the stock its 2nd largest position.
Other large investors also recently modified their holdings of the company. Coatue Management LLC acquired a new stake in shares of Square in the 2nd quarter valued at $319,388,000. Bares Capital Management Inc. lifted its stake in shares of Square by 542.2% in the 2nd quarter. Bares Capital Management Inc. now owns 3,616,765 shares of the technology company’s stock valued at $262,324,000 after purchasing an additional 3,053,548 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Square in the 2nd quarter valued at $204,968,000. Viking Global Investors LP acquired a new stake in shares of Square in the 2nd quarter valued at $192,729,000. Finally, Vanguard Group Inc. lifted its stake in shares of Square by 8.3% in the 2nd quarter. Vanguard Group Inc. now owns 24,838,878 shares of the technology company’s stock valued at $1,801,564,000 after purchasing an additional 1,910,823 shares during the last quarter. 55.70% of the stock is owned by institutional investors.
In other news, CAO Ajmere Dale sold 2,048 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $62.47, for a total transaction of $127,938.56. Following the transaction, the chief accounting officer now owns 64,050 shares in the company, valued at approximately $4,001,203.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Alyssa Henry sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $60.26, for a total transaction of $1,205,200.00. Following the transaction, the insider now owns 442,168 shares in the company, valued at approximately $26,645,043.68. The disclosure for this sale can be found here. Insiders sold a total of 47,048 shares of company stock worth $2,979,489 in the last quarter. Insiders own 21.79% of the company’s stock.
SQ traded down $0.49 during trading on Friday, hitting $61.54. The stock had a trading volume of 9,076,377 shares, compared to its average volume of 9,887,847. The firm has a market cap of $25.97 billion, a PE ratio of 3,077.00, a P/E/G ratio of 21.86 and a beta of 3.40. Square, Inc. has a 12 month low of $49.82 and a 12 month high of $83.20. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.87. The company has a 50 day simple moving average of $60.89 and a 200-day simple moving average of $68.71.
Square (NYSE:SQ) last announced its earnings results on Thursday, August 1st. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.01 by $0.20. The firm had revenue of $563.00 million for the quarter, compared to the consensus estimate of $557.67 million. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. The business’s quarterly revenue was up 46.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 EPS. As a group, sell-side analysts anticipate that Square, Inc. will post 0.11 earnings per share for the current fiscal year.
Several research firms recently issued reports on SQ. Atlantic Securities began coverage on shares of Square in a research note on Tuesday, September 3rd. They issued an “underweight” rating and a $55.00 price objective for the company. Canaccord Genuity lowered shares of Square from a “buy” rating to a “hold” rating and reduced their price objective for the company from $88.00 to $64.00 in a research note on Thursday, September 12th. Evercore ISI set a $50.00 price objective on shares of Square and gave the company a “sell” rating in a research note on Tuesday, September 24th. Guggenheim reaffirmed a “buy” rating and issued a $80.00 price objective (down previously from $94.00) on shares of Square in a research note on Monday, August 5th. Finally, Wedbush set a $75.00 price objective on shares of Square and gave the company a “hold” rating in a research note on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $74.17.
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.
Further Reading: What is a short straddle?
Want to see what other hedge funds are holding SQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Square, Inc. (NYSE:SQ).
Receive News & Ratings for Square Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square and related companies with MarketBeat.com's FREE daily email newsletter.