Whetstone Capital Advisors LLC Cuts Stock Position in Square, Inc. (NYSE:SQ)

Whetstone Capital Advisors LLC lowered its position in Square, Inc. (NYSE:SQ) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,869 shares of the technology company’s stock after selling 273 shares during the period. Square makes up about 0.5% of Whetstone Capital Advisors LLC’s portfolio, making the stock its 28th largest position. Whetstone Capital Advisors LLC’s holdings in Square were worth $2,241,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of SQ. Gamble Jones Investment Counsel boosted its stake in Square by 2.6% in the 4th quarter. Gamble Jones Investment Counsel now owns 1,723 shares of the technology company’s stock worth $375,000 after purchasing an additional 43 shares in the last quarter. Mayflower Financial Advisors LLC boosted its stake in Square by 2.3% in the 1st quarter. Mayflower Financial Advisors LLC now owns 1,945 shares of the technology company’s stock worth $442,000 after purchasing an additional 44 shares in the last quarter. TCI Wealth Advisors Inc. boosted its stake in Square by 41.9% in the 1st quarter. TCI Wealth Advisors Inc. now owns 149 shares of the technology company’s stock worth $34,000 after purchasing an additional 44 shares in the last quarter. Nvwm LLC boosted its stake in Square by 0.9% in the 4th quarter. Nvwm LLC now owns 5,522 shares of the technology company’s stock worth $1,202,000 after purchasing an additional 47 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its stake in Square by 3.3% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,486 shares of the technology company’s stock worth $380,000 after purchasing an additional 47 shares in the last quarter. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SQ stock traded up $4.31 during mid-day trading on Friday, reaching $221.45. The stock had a trading volume of 285,372 shares, compared to its average volume of 10,529,968. The firm has a market capitalization of $100.84 billion, a P/E ratio of 305.84, a P/E/G ratio of 10.41 and a beta of 2.40. The firm’s 50-day moving average is $230.53. Square, Inc. has a 12-month low of $84.06 and a 12-month high of $283.19. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.68 and a current ratio of 1.68.

Square (NYSE:SQ) last posted its quarterly earnings data on Thursday, May 6th. The technology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.45. The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Square had a return on equity of 9.32% and a net margin of 2.72%. The firm’s quarterly revenue was up 266.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS. On average, equities analysts forecast that Square, Inc. will post 0.43 EPS for the current fiscal year.

Several analysts have commented on SQ shares. Mizuho lifted their price objective on shares of Square from $300.00 to $380.00 and gave the company a “buy” rating in a research note on Monday, March 1st. Morgan Stanley boosted their target price on shares of Square from $245.00 to $254.00 and gave the company an “equal weight” rating in a research note on Friday, May 7th. Oddo Bhf initiated coverage on shares of Square in a research note on Wednesday, April 7th. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods raised shares of Square from a “market perform” rating to an “outperform” rating and set a $250.00 target price on the stock in a research report on Wednesday, March 31st. Finally, Rosenblatt Securities upped their target price on shares of Square from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, May 7th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $238.43.

In related news, CFO Amrita Ahuja sold 2,502 shares of Square stock in a transaction dated Friday, April 9th. The stock was sold at an average price of $264.49, for a total transaction of $661,753.98. Following the completion of the sale, the chief financial officer now owns 143,712 shares in the company, valued at approximately $38,010,386.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Morgan Jr. Mckelvey sold 200,000 shares of Square stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $247.70, for a total value of $49,540,000.00. Following the completion of the sale, the director now owns 202,683 shares of the company’s stock, valued at approximately $50,204,579.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,445,314 shares of company stock valued at $337,843,402. 15.12% of the stock is currently owned by company insiders.

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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