3,157 Shares in Square, Inc. (NYSE:SQ) Bought by Optimal Asset Management Inc.

Optimal Asset Management Inc. acquired a new position in shares of Square, Inc. (NYSE:SQ) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,157 shares of the technology company’s stock, valued at approximately $717,000.

Several other institutional investors also recently made changes to their positions in SQ. Rockbridge Investment Management LCC lifted its holdings in shares of Square by 156.0% in the fourth quarter. Rockbridge Investment Management LCC now owns 128 shares of the technology company’s stock valued at $28,000 after purchasing an additional 78 shares in the last quarter. Retirement Group LLC acquired a new position in Square during the fourth quarter worth approximately $29,000. Wagner Wealth Management LLC acquired a new position in Square during the first quarter worth approximately $30,000. Childress Capital Advisors LLC acquired a new position in Square during the fourth quarter worth approximately $32,000. Finally, TCI Wealth Advisors Inc. grew its position in shares of Square by 41.9% in the first quarter. TCI Wealth Advisors Inc. now owns 149 shares of the technology company’s stock valued at $34,000 after purchasing an additional 44 shares during the last quarter. 62.66% of the stock is owned by institutional investors and hedge funds.

In other news, insider Brian Grassadonia sold 4,104 shares of the firm’s stock in a transaction on Tuesday, May 4th. The shares were sold at an average price of $232.38, for a total transaction of $953,687.52. Following the sale, the insider now directly owns 125,337 shares in the company, valued at approximately $29,125,812.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 1,000 shares of the firm’s stock in a transaction on Tuesday, June 29th. The shares were sold at an average price of $250.00, for a total transaction of $250,000.00. Following the sale, the chief accounting officer now owns 41,293 shares in the company, valued at $10,323,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 973,985 shares of company stock worth $222,515,001. 15.12% of the stock is owned by insiders.

Several equities analysts have recently commented on the company. Barclays upped their target price on Square from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, April 20th. DA Davidson started coverage on Square in a research note on Wednesday, June 23rd. They issued a “buy” rating and a $275.00 price target for the company. Keefe, Bruyette & Woods upgraded Square from a “market perform” rating to an “outperform” rating and set a $250.00 price target for the company in a research note on Wednesday, March 31st. KeyCorp raised their target price on Square from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 5th. Finally, Oddo Bhf began coverage on Square in a research report on Wednesday, April 7th. They set a “neutral” rating for the company. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $252.74.

Shares of SQ opened at $257.25 on Thursday. The stock has a market capitalization of $117.14 billion, a PE ratio of 648.60, a PEG ratio of 10.74 and a beta of 2.41. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.29. Square, Inc. has a fifty-two week low of $117.00 and a fifty-two week high of $283.19. The business has a 50-day simple moving average of $227.85.

Square (NYSE:SQ) last posted its quarterly earnings results on Thursday, May 6th. The technology company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.45. Square had a net margin of 2.72% and a return on equity of 9.32%. The firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The business’s revenue for the quarter was up 266.4% on a year-over-year basis. On average, sell-side analysts forecast that Square, Inc. will post 0.49 EPS for the current fiscal year.

About Square

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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