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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)

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