Nisa Investment Advisors LLC Sells 7,250 Shares of Square, Inc. (NYSE:SQ)

Nisa Investment Advisors LLC decreased its holdings in shares of Square, Inc. (NYSE:SQ) by 13.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,210 shares of the technology company’s stock after selling 7,250 shares during the period. Nisa Investment Advisors LLC’s holdings in Square were worth $3,424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SQ. Bingham Osborn & Scarborough LLC lifted its position in shares of Square by 0.9% in the 1st quarter. Bingham Osborn & Scarborough LLC now owns 16,673 shares of the technology company’s stock worth $1,249,000 after purchasing an additional 141 shares during the period. Aldebaran Financial Inc. increased its stake in Square by 0.9% during the 1st quarter. Aldebaran Financial Inc. now owns 17,400 shares of the technology company’s stock valued at $1,304,000 after purchasing an additional 150 shares in the last quarter. Eagle Capital Management LLC increased its stake in Square by 0.4% during the 1st quarter. Eagle Capital Management LLC now owns 39,825 shares of the technology company’s stock valued at $2,984,000 after purchasing an additional 173 shares in the last quarter. Financial Advocates Investment Management increased its stake in Square by 9.0% during the 4th quarter. Financial Advocates Investment Management now owns 2,113 shares of the technology company’s stock valued at $121,000 after purchasing an additional 174 shares in the last quarter. Finally, Meridian Wealth Management LLC increased its stake in Square by 4.4% during the 1st quarter. Meridian Wealth Management LLC now owns 4,677 shares of the technology company’s stock valued at $351,000 after purchasing an additional 199 shares in the last quarter. 52.70% of the stock is owned by institutional investors.

In other news, insider Alyssa Henry sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $61.86, for a total value of $1,237,200.00. Following the transaction, the insider now directly owns 442,168 shares of the company’s stock, valued at $27,352,512.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ajmere Dale sold 2,296 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $60.86, for a total transaction of $139,734.56. Following the completion of the transaction, the insider now directly owns 79,725 shares in the company, valued at $4,852,063.50. The disclosure for this sale can be found here. Insiders have sold 77,249 shares of company stock worth $5,506,825 over the last three months. 21.79% of the stock is currently owned by insiders.

SQ has been the topic of a number of recent analyst reports. Nomura increased their price target on shares of Square from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Argus started coverage on shares of Square in a research report on Monday, July 8th. They set a “buy” rating and a $94.00 price objective for the company. Raymond James upgraded shares of Square from an “underperform” rating to a “market perform” rating and set a $74.15 price objective for the company in a report on Tuesday, July 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Square in a report on Monday, August 5th. Finally, Guggenheim reaffirmed a “buy” rating and set a $80.00 price target (down from $94.00) on shares of Square in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $84.44.

Square stock opened at $62.00 on Friday. The stock has a market cap of $26.91 billion, a price-to-earnings ratio of 3,100.00, a price-to-earnings-growth ratio of 21.41 and a beta of 3.31. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 1.49. Square, Inc. has a 1 year low of $49.82 and a 1 year high of $101.15. The firm has a 50-day moving average of $74.41 and a two-hundred day moving average of $72.56.

Square (NYSE:SQ) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.20. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. The company had revenue of $563.00 million during the quarter, compared to analysts’ expectations of $557.67 million. During the same period in the previous year, the company earned $0.13 EPS. The firm’s quarterly revenue was up 46.2% on a year-over-year basis. Research analysts expect that Square, Inc. will post 0.12 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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