Westwood Management Corp IL Holds Position in Square Inc (SQ)
Westwood Management Corp IL continued to hold its stake in shares of Square Inc (NYSE:SQ) during the first quarter, Holdings Channel reports. The firm owned 85,000 shares of the technology company’s stock at the end of the first quarter. Square accounts for about 0.2% of Westwood Management Corp IL’s holdings, making the stock its 29th largest position. Westwood Management Corp IL’s holdings in Square were worth $1,469,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in SQ. Two Sigma Securities LLC bought a new stake in shares of Square during the third quarter worth about $118,000. M&T Bank Corp bought a new stake in shares of Square during the third quarter worth about $128,000. Intellectus Partners LLC bought a new stake in shares of Square during the fourth quarter worth about $159,000. Ancora Advisors LLC bought a new stake in shares of Square during the fourth quarter worth about $164,000. Finally, Pittenger & Anderson Inc. raised its stake in shares of Square by 25.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 12,500 shares of the technology company’s stock worth $170,000 after buying an additional 2,500 shares during the period. 24.28% of the stock is owned by institutional investors and hedge funds.
Shares of Square Inc (NYSE:SQ) traded down 1.24% during trading on Friday, hitting $17.49. The stock had a trading volume of 5,177,302 shares. The stock’s market cap is $6.42 billion. Square Inc has a 12 month low of $8.42 and a 12 month high of $18.17. The company’s 50 day moving average price is $16.99 and its 200 day moving average price is $14.32.
Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, February 22nd. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. Square had a negative return on equity of 31.99% and a negative net margin of 12.55%. The business had revenue of $191.90 million for the quarter, compared to the consensus estimate of $450.40 million. During the same quarter in the prior year, the business posted ($0.34) EPS. The business’s revenue for the quarter was up 42.7% on a year-over-year basis. Equities research analysts expect that Square Inc will post ($0.25) earnings per share for the current fiscal year.
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A number of equities research analysts have issued reports on the stock. Compass Point increased their price objective on shares of Square from $14.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, January 10th. Needham & Company LLC increased their price objective on shares of Square from $17.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Royal Bank of Canada increased their price objective on shares of Square from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, February 23rd. Vetr raised shares of Square from a “buy” rating to a “strong-buy” rating and set a $16.35 price objective for the company in a report on Monday, February 13th. Finally, Zacks Investment Research raised shares of Square from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a report on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Square presently has a consensus rating of “Buy” and an average price target of $16.88.
In related news, major shareholder Ventures Iii L.P. Khosla sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $17.30, for a total transaction of $17,300,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jack Dorsey sold 381,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $16.96, for a total value of $6,470,240.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,263,360 shares of company stock worth $53,510,243. Company insiders own 42.60% of the company’s stock.
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.
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