Carnegie Capital Asset Management LLC Has $11.09 Million Holdings in Square, Inc. (NYSE:SQ)


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Carnegie Capital Asset Management LLC increased its holdings in shares of Square, Inc. (NYSE:SQ) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,831 shares of the technology company’s stock after buying an additional 846 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Square were worth $11,087,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Retirement Group LLC bought a new position in Square during the 4th quarter worth about $29,000. Rockbridge Investment Management LCC lifted its position in Square by 156.0% during the fourth quarter. Rockbridge Investment Management LCC now owns 128 shares of the technology company’s stock worth $28,000 after acquiring an additional 78 shares during the last quarter. Arlington Partners LLC acquired a new stake in Square during the fourth quarter worth approximately $30,000. Childress Capital Advisors LLC acquired a new stake in Square during the fourth quarter worth approximately $32,000. Finally, Community Bank N.A. acquired a new stake in Square during the fourth quarter worth approximately $36,000. 64.01% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on SQ shares. Oddo Bhf started coverage on shares of Square in a research report on Wednesday, April 7th. They issued a “neutral” rating for the company. Zacks Investment Research raised shares of Square from a “hold” rating to a “strong-buy” rating and set a $278.00 price objective on the stock in a research note on Monday, January 11th. Needham & Company LLC boosted their target price on shares of Square from $300.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday. Barclays upped their target price on shares of Square from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, April 7th. Finally, Keefe, Bruyette & Woods raised shares of Square from a “market perform” rating to an “outperform” rating and set a $250.00 price objective for the company in a research report on Wednesday, March 31st. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $224.81.

In other Square news, Director James Morgan Jr. Mckelvey sold 200,000 shares of the stock in a transaction that occurred on Tuesday, January 19th. The shares were sold at an average price of $225.72, for a total value of $45,144,000.00. Following the sale, the director now directly owns 202,683 shares in the company, valued at approximately $45,749,606.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Grassadonia sold 16,671 shares of the firm’s stock in a transaction on Wednesday, April 7th. The shares were sold at an average price of $246.18, for a total transaction of $4,104,066.78. Following the sale, the insider now owns 118,471 shares in the company, valued at approximately $29,165,190.78. The disclosure for this sale can be found here. Insiders sold a total of 1,162,260 shares of company stock worth $268,017,536 in the last 90 days. 21.79% of the stock is currently owned by company insiders.

NYSE SQ opened at $265.20 on Tuesday. Square, Inc. has a 1-year low of $56.12 and a 1-year high of $283.19. The company has a market cap of $120.56 billion, a price-to-earnings ratio of 420.96, a PEG ratio of 29.50 and a beta of 2.71. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average of $232.89 and a 200-day moving average of $214.76.

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