Neuberger Berman Group LLC increased its holdings in shares of Square, Inc. (NYSE:SQ) by 16.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 452,422 shares of the technology company’s stock after purchasing an additional 63,063 shares during the quarter. Neuberger Berman Group LLC’s holdings in Square were worth $33,896,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Capital Investment Advisory Services LLC acquired a new stake in Square during the fourth quarter valued at $47,000. Janney Montgomery Scott LLC boosted its position in Square by 17.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 26,739 shares of the technology company’s stock valued at $1,500,000 after purchasing an additional 3,886 shares during the last quarter. Western Wealth Management LLC boosted its position in Square by 1.9% during the first quarter. Western Wealth Management LLC now owns 14,395 shares of the technology company’s stock valued at $1,063,000 after purchasing an additional 270 shares during the last quarter. Legacy Bridge LLC boosted its position in Square by 3.2% during the first quarter. Legacy Bridge LLC now owns 6,360 shares of the technology company’s stock valued at $476,000 after purchasing an additional 200 shares during the last quarter. Finally, Aldebaran Financial Inc. boosted its position in Square by 0.9% during the first quarter. Aldebaran Financial Inc. now owns 17,400 shares of the technology company’s stock valued at $1,304,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.
In related news, insider Ajmere Dale sold 2,296 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $60.86, for a total transaction of $139,734.56. Following the completion of the transaction, the insider now owns 79,725 shares of the company’s stock, valued at approximately $4,852,063.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline D. Reses sold 5,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $68.35, for a total value of $341,750.00. Following the transaction, the insider now directly owns 413,593 shares of the company’s stock, valued at approximately $28,269,081.55. The disclosure for this sale can be found here. Insiders have sold a total of 425,091 shares of company stock valued at $31,588,655 in the last three months. 21.79% of the stock is owned by insiders.
Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.09). Square had a positive return on equity of 1.86% and a negative net margin of 1.47%. The business had revenue of $489.00 million for the quarter, compared to analyst estimates of $479.63 million. During the same period in the prior year, the firm posted $0.06 EPS. Square’s revenue for the quarter was up 59.3% on a year-over-year basis. As a group, analysts expect that Square, Inc. will post 0.15 EPS for the current year.
A number of research firms recently issued reports on SQ. Wedbush reissued a “neutral” rating and set a $75.00 price objective on shares of Square in a research report on Thursday, May 2nd. ValuEngine cut Square from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective (down previously from $95.00) on shares of Square in a research report on Thursday, May 2nd. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Tuesday, May 7th. Finally, SunTrust Banks reduced their price objective on Square to $65.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-two have assigned a buy rating to the company. Square has a consensus rating of “Buy” and an average price target of $86.14.
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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.
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