Square Inc (NYSE:SQ) Position Increased by ARK Investment Management LLC

Posted by Sebastian Weber on Mar 5th, 2018 

ARK Investment Management LLC boosted its stake in shares of Square Inc (NYSE:SQ) by 107.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 676,779 shares of the technology company’s stock after buying an additional 350,065 shares during the quarter. Square makes up approximately 1.9% of ARK Investment Management LLC’s portfolio, making the stock its 17th largest holding. ARK Investment Management LLC owned about 0.17% of Square worth $23,464,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SQ. Strs Ohio bought a new position in Square during the fourth quarter worth about $110,000. Harvest Fund Management Co. Ltd bought a new position in Square during the fourth quarter worth about $131,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Square during the fourth quarter worth about $139,000. Hudock Capital Group LLC bought a new position in Square during the third quarter worth about $157,000. Finally, American International Group Inc. bought a new position in Square during the fourth quarter worth about $200,000. Institutional investors own 52.74% of the company’s stock.

A number of equities analysts have weighed in on the stock. Vetr lowered shares of Square from a “buy” rating to a “hold” rating and set a $45.60 target price for the company. in a research report on Monday, November 20th. Cantor Fitzgerald increased their target price on shares of Square to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, November 9th. Oppenheimer reiterated a “buy” rating on shares of Square in a research report on Monday, November 20th. Citigroup reiterated an “outperform” rating and set a $52.00 target price (up previously from $41.00) on shares of Square in a research report on Thursday. Finally, Guggenheim reiterated a “buy” rating and set a $50.00 target price on shares of Square in a research report on Thursday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $42.56.

In other Square news, insider Hillary B. Smith sold 75,103 shares of Square 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 transaction, the insider now directly owns 563,798 shares of the company’s stock, valued at $21,176,252.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jack Dorsey sold 50,000 shares of Square stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $38.42, for a total transaction of $1,921,000.00. The disclosure for this sale can be found here. Insiders sold 1,524,105 shares of company stock worth $61,887,096 over the last ninety days. 32.68% of the stock is currently owned by insiders.

Shares of Square Inc (NYSE SQ) opened at $46.02 on Monday. The firm has a market cap of $18,240.30, a P/E ratio of -287.63 and a beta of 4.56. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 1.83. Square Inc has a one year low of $16.11 and a one year high of $49.56.

Square (NYSE:SQ) last announced its earnings results on Tuesday, February 27th. The technology company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $616.04 million for the quarter, compared to the consensus estimate of $601.63 million. Square had a negative net margin of 2.84% and a negative return on equity of 6.60%. equities analysts anticipate that Square Inc will post -0.02 EPS for the current fiscal year.

Square Company Profile

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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Source : https://ledgergazette.com/2018/03/05/square-inc-sq-shares-bought-by-ark-investment-management-llc.html

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