Moors & Cabot Inc. Has $32,000 Stake in Square, Inc. (NYSE:SQ)

Moors & Cabot Inc. grew its holdings in Square, Inc. (NYSE:SQ) by 56.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the technology company’s stock after purchasing an additional 8,974 shares during the period. Moors & Cabot Inc.’s holdings in Square were worth $32,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Square by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 24,760,800 shares of the technology company’s stock valued at $6,036,683,000 after purchasing an additional 195,530 shares during the period. Jennison Associates LLC increased its holdings in shares of Square by 10.3% in the 2nd quarter. Jennison Associates LLC now owns 10,679,245 shares of the technology company’s stock valued at $2,603,600,000 after purchasing an additional 998,909 shares during the period. Sands Capital Management LLC increased its holdings in shares of Square by 45.4% in the 3rd quarter. Sands Capital Management LLC now owns 10,585,033 shares of the technology company’s stock valued at $2,538,714,000 after purchasing an additional 3,307,189 shares during the period. Lone Pine Capital LLC increased its holdings in shares of Square by 81.7% in the 2nd quarter. Lone Pine Capital LLC now owns 5,715,271 shares of the technology company’s stock valued at $1,393,383,000 after purchasing an additional 2,570,126 shares during the period. Finally, Coatue Management LLC increased its holdings in shares of Square by 17.5% in the 2nd quarter. Coatue Management LLC now owns 4,559,178 shares of the technology company’s stock valued at $1,111,528,000 after purchasing an additional 679,147 shares during the period. Institutional investors own 75.64% of the company’s stock.

In other news, CFO Amrita Ahuja sold 834 shares of the firm’s stock in a transaction on Thursday, October 21st. The stock was sold at an average price of $264.49, for a total value of $220,584.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sivan Whiteley sold 6,668 shares of the firm’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $255.49, for a total value of $1,703,607.32. The disclosure for this sale can be found here. Insiders have sold 37,094 shares of company stock valued at $8,494,506 over the last quarter. Corporate insiders own 15.12% of the company’s stock.

A number of research firms recently commented on SQ. Truist Securities dropped their price objective on Square from $315.00 to $250.00 in a report on Monday, January 10th. Royal Bank of Canada dropped their price objective on Square from $295.00 to $203.00 in a report on Friday, January 7th. UBS Group began coverage on Square in a report on Wednesday, November 17th. They issued a “buy” rating and a $322.00 price objective on the stock. Truist dropped their price objective on Square from $315.00 to $250.00 in a report on Monday, January 10th. Finally, Needham & Company LLC dropped their price objective on Square from $350.00 to $315.00 and set a “buy” rating on the stock in a report on Friday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $278.81.

Shares of SQ stock opened at $133.29 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a fifty day moving average price of $185.16 and a 200 day moving average price of $230.23. Square, Inc. has a one year low of $129.31 and a one year high of $289.23. The stock has a market cap of $61.48 billion, a P/E ratio of 124.57, a price-to-earnings-growth ratio of 9.21 and a beta of 2.30.

Square (NYSE:SQ) last released its quarterly earnings data on Thursday, November 4th. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.26. Square had a return on equity of 14.15% and a net margin of 3.21%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $4.48 billion. During the same period in the prior year, the company posted $0.12 earnings per share. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. Equities research analysts anticipate that Square, Inc. will post 0.49 EPS for the current year.

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.

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Institutional Ownership by Quarter for Square (NYSE:SQ)

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