IFM Investors Pty Ltd Boosts Holdings in Square, Inc. (NYSE:SQ)


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IFM Investors Pty Ltd raised its stake in shares of Square, Inc. (NYSE:SQ) by 20.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 35,862 shares of the technology company’s stock after acquiring an additional 5,970 shares during the period. IFM Investors Pty Ltd’s holdings in Square were worth $7,805,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Sands Capital Management LLC boosted its stake in Square by 30.6% during the third quarter. Sands Capital Management LLC now owns 8,785,371 shares of the technology company’s stock valued at $1,428,062,000 after buying an additional 2,057,920 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Square by 108.1% during the 3rd quarter. Nuveen Asset Management LLC now owns 1,927,393 shares of the technology company’s stock valued at $313,298,000 after acquiring an additional 1,001,127 shares during the last quarter. Winslow Capital Management LLC purchased a new position in shares of Square in the third quarter valued at $80,726,000. Hyperion Asset Management Ltd increased its position in Square by 140.2% in the third quarter. Hyperion Asset Management Ltd now owns 787,322 shares of the technology company’s stock worth $127,979,000 after purchasing an additional 459,519 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in Square by 1,665.8% during the second quarter. Two Sigma Advisers LP now owns 211,900 shares of the technology company’s stock valued at $22,237,000 after purchasing an additional 199,900 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

SQ stock traded up $3.40 during trading on Wednesday, reaching $230.92. 7,304,402 shares of the company traded hands, compared to its average volume of 10,124,180. The business has a 50 day simple moving average of $221.54 and a 200 day simple moving average of $171.00. Square, Inc. has a 12 month low of $32.33 and a 12 month high of $246.49. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market capitalization of $104.13 billion, a price-to-earnings ratio of 372.45 and a beta of 2.68.

Square (NYSE:SQ) last released its quarterly earnings results on Thursday, November 5th. The technology company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.18. Square had a net margin of 5.15% and a negative return on equity of 1.20%. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 139.6% on a year-over-year basis. As a group, research analysts forecast that Square, Inc. will post -0.23 EPS for the current year.

In other news, CFO Amrita Ahuja sold 1,138 shares of the company’s stock in a transaction dated Friday, January 8th. The shares were sold at an average price of $244.35, for a total transaction of $278,070.30. Following the transaction, the chief financial officer now owns 158,221 shares in the company, valued at $38,661,301.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jack Dorsey sold 100,000 shares of the stock in a transaction that occurred on Monday, January 11th. The shares were sold at an average price of $229.87, for a total transaction of $22,987,000.00. The disclosure for this sale can be found here. Insiders have sold 1,153,655 shares of company stock valued at $238,750,693 in the last three months. 21.79% of the stock is currently owned by corporate insiders.

SQ has been the subject of a number of recent research reports. CSFB lifted their price objective on shares of Square from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, September 28th. Oppenheimer upgraded Square from a “market perform” rating to an “outperform” rating and set a $185.00 price target for the company in a research report on Thursday, September 24th. Wolfe Research upped their price objective on Square from $195.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, November 6th. Loop Capital began coverage on Square in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $169.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on Square from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $170.76.

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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