market folly

Philippe Laffont's hedge fund firm Coatue Management has filed a 13G with the SEC regarding shares of Square (SQ).  Per the filing, Coatue now owns 5.99% of the company with over 1.89 million shares.

The filing was made due to activity on April 12th.  Coatue previously did not report a stake at the end of 2015.  Square went public in the later half of 2015.

Per Google Finance, Square "provides financial services and marketing services. The Company also provides payments and point-of-sale (POS), which include hardware and software to accept payments, streamline operations, and analyze business information. The Company's payments and POS services include In-Person Payments, Online Payments, Square Cash, Square Register, Square Analytics, Square Appointments and Square App Marketplace. The Company's financial services include Square Capital and Square Payroll. The Company's marketing services include Square Customer Engagement and Caviar. The Company's mobile payments and POS services transform the checkout process and advance digital and mobile commerce by untethering sales from long lines and antiquated cash registers. The Company provides sellers a range of options for accepting payments in-person or online. The Company acts as the merchant of record for its sellers.."