Crossvault Capital Management LLC Boosts Stake in Square, Inc. (SQ)

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Crossvault Capital Management LLC increased its holdings in Square, Inc. (NYSE:SQ) by 483.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 38,815 shares of the technology company’s stock after buying an additional 32,165 shares during the period. Square makes up about 1.5% of Crossvault Capital Management LLC’s portfolio, making the stock its 23rd largest holding. Crossvault Capital Management LLC’s holdings in Square were worth $2,908,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Panagora Asset Management Inc. bought a new stake in Square in the 3rd quarter valued at about $119,000. Dimensional Fund Advisors LP lifted its position in Square by 126.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 258,736 shares of the technology company’s stock valued at $25,614,000 after purchasing an additional 144,304 shares during the last quarter. Koshinski Asset Management Inc. bought a new stake in Square in the 3rd quarter valued at about $344,000. Teachers Advisors LLC lifted its position in Square by 7.4% in the 3rd quarter. Teachers Advisors LLC now owns 626,710 shares of the technology company’s stock valued at $62,051,000 after purchasing an additional 43,338 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its position in Square by 4.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,099,492 shares of the technology company’s stock valued at $108,861,000 after purchasing an additional 42,518 shares during the last quarter. 52.15% of the stock is owned by institutional investors and hedge funds.

SQ has been the topic of several recent research reports. Mizuho lifted their price objective on shares of Square from $75.00 to $85.00 in a research report on Thursday, February 28th. Cantor Fitzgerald reiterated a “buy” rating and issued a $91.00 price objective on shares of Square in a research report on Wednesday, February 27th. Canaccord Genuity reiterated a “buy” rating and issued a $88.00 price objective on shares of Square in a research report on Wednesday, February 27th. Nomura reiterated a “buy” rating and issued a $110.00 price objective (up from $108.00) on shares of Square in a research report on Thursday, January 24th. Finally, Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Wednesday, January 9th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $84.82.

Shares of SQ traded down $0.46 during mid-day trading on Wednesday, hitting $71.99. The company’s stock had a trading volume of 7,023,711 shares, compared to its average volume of 12,448,501. The stock has a market capitalization of $30.46 billion, a P/E ratio of 3,599.50, a P/E/G ratio of 20.21 and a beta of 3.64. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.07 and a quick ratio of 2.07. Square, Inc. has a fifty-two week low of $43.72 and a fifty-two week high of $101.15.

Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, February 27th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.04. The company had revenue of $464.00 million for the quarter, compared to analysts’ expectations of $453.88 million. Square had a negative net margin of 1.17% and a positive return on equity of 0.86%. The business’s revenue was up 64.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. As a group, equities research analysts forecast that Square, Inc. will post 0.14 EPS for the current fiscal year.

In other news, CAO Ajmere Dale sold 2,048 shares of Square stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $80.00, for a total value of $163,840.00. Following the transaction, the chief accounting officer now owns 79,985 shares of the company’s stock, valued at approximately $6,398,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jack Dorsey sold 103,035 shares of Square stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $70.33, for a total transaction of $7,246,451.55. The disclosure for this sale can be found here. Insiders sold a total of 1,118,746 shares of company stock worth $84,091,554 in the last ninety days. Corporate insiders own 27.99% of the company’s stock.

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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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