Edge Wealth Management LLC Has $82,000 Position in Square, Inc. (NYSE:SQ)


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Edge Wealth Management LLC raised its stake in shares of Square, Inc. (NYSE:SQ) by 44.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 361 shares of the technology company’s stock after buying an additional 111 shares during the period. Edge Wealth Management LLC’s holdings in Square were worth $82,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SQ. Abner Herrman & Brock LLC lifted its stake in shares of Square by 487.3% in the 1st quarter. Abner Herrman & Brock LLC now owns 41,759 shares of the technology company’s stock valued at $9,481,000 after purchasing an additional 34,649 shares during the last quarter. Fulton Breakefield Broenniman LLC acquired a new stake in shares of Square in the 1st quarter valued at $727,000. Parcion Private Wealth LLC acquired a new stake in shares of Square in the 1st quarter valued at $5,296,000. Baldwin Brothers Inc. MA raised its holdings in Square by 51.6% in the 1st quarter. Baldwin Brothers Inc. MA now owns 523 shares of the technology company’s stock worth $119,000 after acquiring an additional 178 shares during the period. Finally, Modus Advisors LLC bought a new position in Square in the 1st quarter worth $1,406,000. 64.01% of the stock is owned by institutional investors.

Several brokerages recently commented on SQ. Royal Bank of Canada lifted their target price on shares of Square from $257.00 to $305.00 and gave the stock an “outperform” rating in a report on Tuesday, March 2nd. Evercore ISI boosted their price objective on shares of Square from $300.00 to $304.00 and gave the stock an “average” rating in a report on Thursday, January 14th. KeyCorp boosted their price objective on shares of Square from $250.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, January 15th. Needham & Company LLC boosted their price objective on shares of Square from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, March 2nd. Finally, Redburn Partners assumed coverage on shares of Square in a report on Thursday, March 18th. They set a “sell” rating on the stock. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $224.57.

Shares of SQ stock opened at $261.65 on Monday. The firm has a fifty day moving average of $233.67 and a 200-day moving average of $213.12. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.85. Square, Inc. has a 12-month low of $56.12 and a 12-month high of $283.19. The company has a market capitalization of $118.95 billion, a price-to-earnings ratio of 415.32, a P/E/G ratio of 29.50 and a beta of 2.71.

Square (NYSE:SQ) last issued its quarterly earnings data on Tuesday, February 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. Square had a net margin of 4.05% and a negative return on equity of 0.01%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The firm’s revenue was up 139.6% compared to the same quarter last year. On average, equities analysts expect that Square, Inc. will post -0.03 EPS for the current year.

In related news, CFO Amrita Ahuja sold 4,995 shares of the stock in a transaction on Monday, January 25th. The shares were sold at an average price of $217.03, for a total transaction of $1,084,064.85. Following the completion of the transaction, the chief financial officer now owns 162,383 shares in the company, valued at $35,241,982.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jack Dorsey sold 100,000 shares of the stock in a transaction on Monday, March 29th. The stock was sold at an average price of $210.26, for a total transaction of $21,026,000.00. The disclosure for this sale can be found here. Insiders have sold 1,172,260 shares of company stock valued at $270,283,936 in the last 90 days. 21.79% of the stock is currently owned by corporate insiders.

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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