Geode Capital Management LLC grew its holdings in Square Inc (NYSE:SQ) by 9.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,147,173 shares of the technology company’s stock after buying an additional 179,830 shares during the period. Geode Capital Management LLC owned approximately 0.55% of Square worth $74,398,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Atlantic Trust Group LLC purchased a new position in shares of Square in the 3rd quarter worth $1,143,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Square by 1,407.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 696,007 shares of the technology company’s stock worth $20,052,000 after purchasing an additional 649,841 shares during the period. California Public Employees Retirement System boosted its stake in shares of Square by 4.1% during the 3rd quarter. California Public Employees Retirement System now owns 368,151 shares of the technology company’s stock worth $10,606,000 after purchasing an additional 14,451 shares during the period. Kessler Investment Group LLC boosted its stake in shares of Square by 133.1% during the 4th quarter. Kessler Investment Group LLC now owns 11,725 shares of the technology company’s stock worth $407,000 after purchasing an additional 6,695 shares during the period. Finally, Nomura Asset Management Co. Ltd. purchased a new position in shares of Square during the 3rd quarter worth about $36,574,000. 52.21% of the stock is owned by institutional investors and hedge funds.
Shares of Square Inc (NYSE:SQ) opened at $51.83 on Wednesday. Square Inc has a twelve month low of $16.11 and a twelve month high of $53.79. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 1.83. The company has a market cap of $20,820.00 and a PE ratio of -304.88.
A number of equities analysts recently commented on SQ shares. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Tuesday, January 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $51.00 price target (up from $41.00) on shares of Square in a research note on Wednesday, February 28th. Stephens reaffirmed a “buy” rating and set a $41.00 price target on shares of Square in a research note on Wednesday, January 10th. Wells Fargo & Co started coverage on shares of Square in a research note on Tuesday, November 21st. They set a “market perform” rating and a $42.00 price target for the company. Finally, Credit Suisse Group lifted their price target on shares of Square from $37.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Square currently has a consensus rating of “Buy” and a consensus price target of $42.68.
In related news, insider Hillary B. Smith sold 75,103 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $37.56, for a total transaction of $2,820,868.68. Following the completion of the transaction, the insider now owns 563,798 shares in the company, valued at approximately $21,176,252.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $41.46, for a total transaction of $1,592,064.00. Following the transaction, the chief financial officer now owns 349,123 shares of the company’s stock, valued at approximately $14,474,639.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,025,177 shares of company stock valued at $43,040,753. Company insiders own 32.68% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Geode Capital Management LLC Acquires 179,830 Shares of Square Inc (SQ)” was first posted by American Banking News and is the property of of American Banking News. If you are reading this article on another website, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.americanbankingnews.com/2018/03/14/geode-capital-management-llc-acquires-179830-shares-of-square-inc-sq.html.
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
Want to see what other hedge funds are holding SQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Square Inc (NYSE:SQ).
Receive News & Ratings for Square Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square and related companies with MarketBeat.com's FREE daily email newsletter.