Neuberger Berman Group LLC Purchases 166,599 Shares of Square, Inc. (SQ)

Neuberger Berman Group LLC raised its position in Square, Inc. (NYSE:SQ) by 46.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 528,435 shares of the technology company’s stock after buying an additional 166,599 shares during the quarter. Neuberger Berman Group LLC owned about 0.13% of Square worth $25,999,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SQ. Jennison Associates LLC acquired a new position in Square in the 4th quarter valued at $86,426,000. BlackRock Inc. grew its stake in shares of Square by 18.4% during the 4th quarter. BlackRock Inc. now owns 13,005,859 shares of the technology company’s stock worth $450,913,000 after purchasing an additional 2,024,019 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Square by 458.6% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,962,828 shares of the technology company’s stock worth $68,051,000 after purchasing an additional 1,611,446 shares during the period. Carillon Tower Advisers Inc. acquired a new position in shares of Square during the 4th quarter worth $31,189,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Square by 20.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,347,685 shares of the technology company’s stock worth $213,906,000 after purchasing an additional 752,364 shares during the period. 51.98% of the stock is currently owned by institutional investors.

A number of equities analysts have recently weighed in on the stock. Deutsche Bank upped their price target on shares of Square from $37.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Stifel Nicolaus raised shares of Square from a “hold” rating to a “buy” rating and upped their price target for the stock from $46.00 to $55.00 in a research note on Thursday, May 3rd. Susquehanna Bancshares upped their price target on shares of Square from $43.00 to $51.00 and gave the stock a “positive” rating in a research note on Monday, February 5th. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Monday, February 5th. Finally, Vetr raised shares of Square from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Monday, February 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $46.51.

In other news, insider Jacqueline D. Reses sold 15,000 shares of the stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $47.51, for a total transaction of $712,650.00. Following the transaction, the insider now directly owns 594,541 shares in the company, valued at approximately $28,246,642.91. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $55.13, for a total transaction of $22,052,000.00. Following the transaction, the director now owns 468,223 shares in the company, valued at $25,813,133.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,310,855 shares of company stock worth $67,150,508. 27.99% of the stock is owned by insiders.

Square opened at $55.77 on Friday, Marketbeat reports. The stock has a market capitalization of $22.07 billion, a price-to-earnings ratio of -557.70 and a beta of 4.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 1.76. Square, Inc. has a 12-month low of $22.22 and a 12-month high of $58.46.

Square (NYSE:SQ) last released its earnings results on Wednesday, May 2nd. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. The company had revenue of $307.00 million for the quarter, compared to analyst estimates of $293.07 million. Square had a negative net margin of 2.96% and a negative return on equity of 7.03%. The firm’s quarterly revenue was up 50.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. analysts forecast that Square, Inc. will post 0.01 earnings per share for the current year.

About Square

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.

Institutional Ownership by Quarter for Square (NYSE:SQ)

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