Executive Wealth Management LLC Raises Holdings in Square, Inc. (NYSE:SQ)

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Executive Wealth Management LLC grew its position in shares of Square, Inc. (NYSE:SQ) by 16.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,110 shares of the technology company’s stock after purchasing an additional 3,055 shares during the quarter. Executive Wealth Management LLC’s holdings in Square were worth $1,604,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Jennison Associates LLC grew its holdings in shares of Square by 56.6% during the first quarter. Jennison Associates LLC now owns 15,136,362 shares of the technology company’s stock worth $1,134,016,000 after buying an additional 5,472,640 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Square by 28.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,303,968 shares of the technology company’s stock worth $457,227,000 after buying an additional 1,410,744 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Square by 37.0% during the second quarter. Nikko Asset Management Americas Inc. now owns 5,034,654 shares of the technology company’s stock worth $365,163,000 after buying an additional 1,359,963 shares during the last quarter. ARK Investment Management LLC grew its holdings in shares of Square by 17.5% during the second quarter. ARK Investment Management LLC now owns 2,506,643 shares of the technology company’s stock worth $181,807,000 after buying an additional 373,765 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Square by 3.6% during the first quarter. Northern Trust Corp now owns 1,935,346 shares of the technology company’s stock worth $144,996,000 after buying an additional 67,477 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors.

SQ stock opened at $63.00 on Wednesday. The firm’s 50 day moving average is $74.78. Square, Inc. has a 12-month low of $49.82 and a 12-month high of $101.15. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market cap of $27.77 billion, a P/E ratio of 3,150.00, a price-to-earnings-growth ratio of 22.09 and a beta of 3.31.

Square (NYSE:SQ) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.20. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. The company had revenue of $563.00 million during the quarter, compared to the consensus estimate of $557.67 million. During the same period last year, the firm earned $0.13 EPS. The company’s revenue for the quarter was up 46.2% on a year-over-year basis. As a group, equities research analysts expect that Square, Inc. will post 0.12 earnings per share for the current year.

In related news, insider Alyssa Henry sold 20,000 shares of Square stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $70.22, for a total transaction of $1,404,400.00. Following the completion of the transaction, the insider now directly owns 460,132 shares in the company, valued at approximately $32,310,469.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline D. Reses sold 5,000 shares of Square stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $73.26, for a total value of $366,300.00. Following the transaction, the insider now owns 399,914 shares of the company’s stock, valued at $29,297,699.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,249 shares of company stock valued at $4,269,625. Insiders own 21.79% of the company’s stock.

A number of equities analysts recently issued reports on the company. Evercore ISI lowered Square from an “outperform” rating to an “underperform” rating and lowered their price target for the stock from $101.00 to $64.00 in a report on Thursday, August 1st. Sanford C. Bernstein assumed coverage on Square in a report on Tuesday, April 16th. They set a “market perform” rating and a $80.00 price target on the stock. SunTrust Banks raised their price target on Square to $75.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. BTIG Research reissued a “sell” rating and set a $30.00 price target on shares of Square in a report on Sunday, August 4th. Finally, Argus initiated coverage on Square in a report on Monday, July 8th. They set a “buy” rating and a $94.00 price target on the stock. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Square currently has an average rating of “Hold” and a consensus price target of $84.44.

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.

Further Reading: Management Fee

Institutional Ownership by Quarter for Square (NYSE:SQ)

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