Steven Cohen Vehicles Hold 5.4% of Square Inc.
19 Agosto 2016 - 3:40AM
Dow Jones News
Steven A. Cohen's Point72 Asset Management LP and related
entities said in a filing on Thursday that they held about 6.6
million shares of Square Inc., or a 5.4% stake, making the
investment firm one of the largest shareholders of the
payment-processing company.
The stake, filed on a form that indicates billionaire investor
Mr. Cohen doesn't have activist intent with Square, is valued at
about $78.2 million. Shares of the company rose 1.5% after hours to
$11.93.
Point72 didn't immediately respond to a request for comment on
why it acquire the stake.
Run by Twitter Inc. founder and Chief Executive Jack Dorsey and
known for the small white payment devices it sells to small
businesses, Square has been among the most watched companies in the
so-called fintech industry since its initial public offering late
last year.
For its latest reporting quarter, Square posted
better-than-expected 41% jump in revenue boosted by sharp growth in
transaction revenue.
Mr. Cohen is chief executive of Point72, which manages his
wealth, as well as that of his family and employees.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
August 18, 2016 21:25 ET (01:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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