NEXT Financial Group Inc Has $520,000 Position in Square, Inc. (NYSE:SQ)

NEXT Financial Group Inc raised its holdings in Square, Inc. (NYSE:SQ) by 34.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,167 shares of the technology company’s stock after buying an additional 1,825 shares during the quarter. NEXT Financial Group Inc’s holdings in Square were worth $520,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC grew its stake in shares of Square by 56.6% in the first quarter. Jennison Associates LLC now owns 15,136,362 shares of the technology company’s stock worth $1,134,016,000 after acquiring an additional 5,472,640 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Square in the first quarter worth $34,164,000. Ardevora Asset Management LLP acquired a new stake in shares of Square in the first quarter worth $28,275,000. TCW Group Inc. acquired a new stake in Square in the 1st quarter worth $23,583,000. Finally, Nomura Asset Management Co. Ltd. grew its position in Square by 36.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 989,200 shares of the technology company’s stock worth $74,111,000 after purchasing an additional 262,900 shares during the last quarter. 52.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:SQ traded down $11.38 on Friday, hitting $69.60. The stock had a trading volume of 43,696,160 shares, compared to its average volume of 6,864,466. Square, Inc. has a twelve month low of $49.82 and a twelve month high of $101.15. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average of $76.34. The company has a market cap of $34.01 billion, a P/E ratio of 3,480.00, a price-to-earnings-growth ratio of 21.55 and a beta of 3.31.

Square (NYSE:SQ) last issued its earnings results on Thursday, August 1st. The technology company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.20. Square had a negative net margin of 1.47% and a positive return on equity of 1.86%. The company had revenue of $563.00 million for the quarter, compared to the consensus estimate of $557.67 million. During the same quarter in the previous year, the company earned $0.13 EPS. The firm’s revenue for the quarter was up 46.2% compared to the same quarter last year. On average, sell-side analysts forecast that Square, Inc. will post 0.15 EPS for the current fiscal year.

SQ has been the topic of several research analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $78.00 price target on shares of Square in a research report on Thursday, July 18th. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price (down from $95.00) on shares of Square in a research report on Thursday, May 2nd. Sanford C. Bernstein began coverage on Square in a research report on Tuesday, April 16th. They set a “market perform” rating and a $80.00 target price on the stock. SunTrust Banks lifted their target price on Square to $75.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Wedbush reissued a “neutral” rating on shares of Square in a research report on Monday, July 1st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $87.40.

In other news, insider Ajmere Dale sold 4,953 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $80.00, for a total value of $396,240.00. Following the transaction, the insider now directly owns 68,079 shares of the company’s stock, valued at approximately $5,446,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alyssa Henry sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $77.69, for a total value of $1,553,800.00. Following the completion of the transaction, the insider now directly owns 449,261 shares in the company, valued at $34,903,087.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,249 shares of company stock worth $5,144,475. Company insiders own 21.79% of the company’s stock.

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.

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Institutional Ownership by Quarter for Square (NYSE:SQ)

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