Oregon Public Employees Retirement Fund Reduces Holdings in Square, Inc. (SQ)

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Oregon Public Employees Retirement Fund cut its holdings in Square, Inc. (NYSE:SQ) by 68.0% during the 1st quarter, HoldingsChannel reports. The fund owned 21,078 shares of the technology company’s stock after selling 44,856 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Square were worth $1,579,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SQ. Spark Investment Management LLC acquired a new stake in Square during the 1st quarter worth about $9,057,000. Thornburg Investment Management Inc. acquired a new position in shares of Square in the 1st quarter valued at about $13,430,000. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in shares of Square by 296.2% in the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 10,300 shares of the technology company’s stock valued at $771,000 after purchasing an additional 7,700 shares during the period. Motley Fool Asset Management LLC increased its holdings in shares of Square by 32.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 6,301 shares of the technology company’s stock valued at $472,000 after purchasing an additional 1,554 shares during the period. Finally, Trustcore Financial Services LLC acquired a new position in shares of Square in the 1st quarter valued at about $256,000. Hedge funds and other institutional investors own 52.12% of the company’s stock.

In other Square news, CEO Jack Dorsey sold 103,035 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $78.04, for a total transaction of $8,040,851.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alyssa Henry sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $64.20, for a total value of $1,284,000.00. Following the sale, the insider now directly owns 459,793 shares of the company’s stock, valued at approximately $29,518,710.60. The disclosure for this sale can be found here. Insiders have sold 716,606 shares of company stock valued at $54,179,892 in the last ninety days. Company insiders own 21.79% of the company’s stock.

Shares of NYSE SQ opened at $64.66 on Monday. The company has a market capitalization of $27.35 billion, a P/E ratio of 3,233.00, a PEG ratio of 17.24 and a beta of 3.49. Square, Inc. has a 52 week low of $49.82 and a 52 week high of $101.15. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.50 and a quick ratio of 1.50.

Square (NYSE:SQ) last announced its earnings results on Wednesday, May 1st. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.09). The company had revenue of $489.00 million for the quarter, compared to the consensus estimate of $479.63 million. Square had a positive return on equity of 1.86% and a negative net margin of 1.47%. The firm’s revenue for the quarter was up 59.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 EPS. As a group, equities analysts forecast that Square, Inc. will post 0.15 earnings per share for the current year.

A number of equities analysts have recently weighed in on the company. Wedbush reiterated a “neutral” rating and issued a $75.00 target price on shares of Square in a report on Thursday, May 2nd. ValuEngine downgraded Square from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price (down previously from $95.00) on shares of Square in a report on Thursday, May 2nd. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Tuesday, May 7th. Finally, SunTrust Banks dropped their target price on Square to $65.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-one have given a buy rating to the stock. Square currently has a consensus rating of “Hold” and a consensus price target of $86.14.

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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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