Octavia Wealth Advisors LLC Increases Stock Holdings in Square, Inc. (NYSE:SQ)

Octavia Wealth Advisors LLC lifted its position in Square, Inc. (NYSE:SQGet Rating) by 75.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,323 shares of the technology company’s stock after purchasing an additional 2,284 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Square were worth $722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Paces Ferry Wealth Advisors LLC acquired a new position in Square in the first quarter valued at about $276,000. NorthCrest Asset Manangement LLC acquired a new position in Square in the first quarter valued at about $654,000. IFM Investors Pty Ltd lifted its position in Square by 49.0% in the first quarter. IFM Investors Pty Ltd now owns 78,325 shares of the technology company’s stock valued at $10,621,000 after buying an additional 25,746 shares during the last quarter. Nepsis Inc. acquired a new position in Square in the first quarter valued at about $17,434,000. Finally, Mizuho Securities Co. Ltd. lifted its position in Square by 408.8% in the first quarter. Mizuho Securities Co. Ltd. now owns 30,505 shares of the technology company’s stock valued at $4,136,000 after buying an additional 24,510 shares during the last quarter. 54.56% of the stock is currently owned by institutional investors.

Square stock opened at $61.46 on Friday. Square, Inc. has a one year low of $56.01 and a one year high of $289.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.97 and a current ratio of 1.97. The business has a fifty day moving average of $81.22 and a two-hundred day moving average of $112.11. The company has a market cap of $35.65 billion, a P/E ratio of -409.71 and a beta of 2.38.

Square (NYSE:SQGet Rating) last released its quarterly earnings results on Thursday, May 5th. The technology company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $4.14 billion. Square had a positive return on equity of 0.74% and a negative net margin of 0.46%. The company’s quarterly revenue was down 21.7% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. Sell-side analysts predict that Square, Inc. will post -0.7 EPS for the current year.

Several analysts have recently issued reports on SQ shares. StockNews.com raised shares of Square to a “sell” rating in a research report on Monday, June 20th. CLSA started coverage on shares of Square in a research report on Thursday, March 31st. They set a “buy” rating and a $180.00 price target on the stock. Wedbush reduced their price target on shares of Square from $140.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, May 19th. BMO Capital Markets reduced their price target on shares of Square from $126.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, May 20th. Finally, Wells Fargo & Company started coverage on shares of Square in a research report on Monday, April 4th. They set an “overweight” rating and a $165.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $188.88.

In related news, insider Alyssa Henry sold 30,770 shares of Square stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $60.14, for a total transaction of $1,850,507.80. Following the completion of the sale, the insider now owns 433,543 shares in the company, valued at approximately $26,073,276.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amrita Ahuja sold 2,680 shares of Square stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $141.79, for a total value of $379,997.20. Following the sale, the chief financial officer now owns 121,461 shares of the company’s stock, valued at approximately $17,221,955.19. The disclosure for this sale can be found here. Insiders have sold a total of 196,165 shares of company stock valued at $15,293,935 in the last ninety days. Corporate insiders own 15.12% of the company’s stock.

Square Company Profile (Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Square (NYSE:SQ)

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