Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Square Inc (SQ)’s Shares in Green Following Stock Upgrade

Shares of Square Inc (NYSE:SQ) have inched up by more than 1%, after the financial services firm BTIG upgraded the stock to “Buy” from “Neutral”. The firm cited valuation and potential for gains as the reasons for the rating upgrade. BTIG has a price target of $12 per share for the San Francisco based mobile payments company. Despite today’s gain, the stock is down by over 26% since the beginning of 2016, a fact that was not overlooked by smart money investors. Even though, Square saw a small increase in the number of funds with long positions among those tracked by Insider Monkey, the stock still remained largely overlooked at the end of the first quarter.

In today’s marketplace there are tons of metrics shareholders put to use to size up stocks. A duo of the most useful metrics are hedge fund and insider trading interest. Our researchers have shown that, historically, those who follow the best picks of the elite hedge fund managers can outperform the market by a healthy margin (see the details here).

At Q1’s end, a total of 14 of the hedge funds tracked by Insider Monkey were long Square, up by five on the quarter. With the smart money’s sentiment swirling, there exists a select group of notable hedge fund managers who were boosting their stakes substantially (or already accumulated large positions). The largest stake was reported by billionaire Chase Coleman’s Tiger Global Management, which held a $100.1 million stake in the company at the end of March. It is followed by Christopher Lyle’s SCGE Management, which held a stake worth $38.2 million heading into the second quarter.

Similarly, a number of investors initiated stakes in Square during the first quarter, with Philippe Laffont’s Coatue Management reporting the largest new position, worth $18.3 million. The other funds with new positions in the stock are Daniel S. Och’s OZ Management, John Overdeck and David Siegel’s Two Sigma Advisors, and Frank Slattery’s Symmetry Peak Management.

Disclosure: None

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!