Coatue Management LLC Increases Stake in Square, Inc. (NYSE:SQ)

Coatue Management LLC lifted its stake in Square, Inc. (NYSE:SQ) by 17.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,559,178 shares of the technology company’s stock after purchasing an additional 679,147 shares during the period. Square accounts for about 4.4% of Coatue Management LLC’s investment portfolio, making the stock its 5th biggest holding. Coatue Management LLC’s holdings in Square were worth $1,111,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Covington Capital Management lifted its position in shares of Square by 6.0% in the 2nd quarter. Covington Capital Management now owns 16,046 shares of the technology company’s stock worth $3,912,000 after purchasing an additional 906 shares during the period. Parisi Gray Wealth Management purchased a new position in Square during the 2nd quarter valued at about $79,000. Toroso Investments LLC lifted its position in Square by 13.5% during the 2nd quarter. Toroso Investments LLC now owns 237,299 shares of the technology company’s stock valued at $57,854,000 after acquiring an additional 28,179 shares during the period. Berkshire Capital Holdings Inc. lifted its position in Square by 9.2% during the 2nd quarter. Berkshire Capital Holdings Inc. now owns 174,370 shares of the technology company’s stock valued at $42,511,000 after acquiring an additional 14,720 shares during the period. Finally, PAX Financial Group LLC lifted its position in Square by 16.7% during the 2nd quarter. PAX Financial Group LLC now owns 1,750 shares of the technology company’s stock valued at $427,000 after acquiring an additional 251 shares during the period. 62.65% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on the stock. Mizuho reissued a “buy” rating and set a $380.00 price target on shares of Square in a research report on Thursday, July 15th. Rosenblatt Securities lifted their price target on shares of Square from $330.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, August 3rd. JPMorgan Chase & Co. lifted their target price on shares of Square from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 17th. UBS Group raised shares of Square to an “overweight” rating in a report on Tuesday. Finally, Zacks Investment Research raised shares of Square from a “hold” rating to a “strong-buy” rating and set a $260.00 target price for the company in a report on Tuesday, October 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $288.31.

In other news, insider Brian Grassadonia sold 19,660 shares of the company’s stock in a transaction dated Thursday, October 7th. The shares were sold at an average price of $248.67, for a total value of $4,888,852.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sivan Whiteley sold 8,119 shares of the company’s stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $266.28, for a total transaction of $2,161,927.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 289,381 shares of company stock worth $75,140,618. 15.12% of the stock is owned by insiders.

Shares of SQ stock traded up $5.90 during mid-day trading on Thursday, hitting $248.63. The company had a trading volume of 209,282 shares, compared to its average volume of 9,228,007. Square, Inc. has a 52-week low of $151.10 and a 52-week high of $289.23. The stock’s 50 day moving average price is $257.13 and its 200-day moving average price is $243.37. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $114.29 billion, a P/E ratio of 217.53, a P/E/G ratio of 10.06 and a beta of 2.43.

Square (NYSE:SQ) last released its earnings results on Saturday, July 31st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.31 by $0.35. Square had a net margin of 3.60% and a return on equity of 16.94%. The firm had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The company’s quarterly revenue was up 143.3% compared to the same quarter last year. On average, equities research analysts expect that Square, Inc. will post 0.81 earnings per share for the current year.

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.

Featured Article: QQQ ETF

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).

Institutional Ownership by Quarter for Square (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.