Burleson & Company LLC Purchases New Shares in Square, Inc. (NYSE:SQ)

Burleson & Company LLC acquired a new position in shares of Square, Inc. (NYSE:SQ) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 151 shares of the technology company’s stock, valued at approximately $34,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jennison Associates LLC boosted its holdings in Square by 33,045.6% during the fourth quarter. Jennison Associates LLC now owns 8,594,646 shares of the technology company’s stock worth $1,870,539,000 after purchasing an additional 8,568,716 shares during the last quarter. Norges Bank purchased a new position in shares of Square in the 4th quarter worth approximately $597,618,000. Nikko Asset Management Americas Inc. increased its position in shares of Square by 32.9% during the first quarter. Nikko Asset Management Americas Inc. now owns 5,662,354 shares of the technology company’s stock valued at $1,285,637,000 after acquiring an additional 1,402,341 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Square by 24.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,929,857 shares of the technology company’s stock worth $1,573,424,000 after acquiring an additional 1,368,995 shares during the period. Finally, Winslow Capital Management LLC boosted its position in Square by 231.5% in the fourth quarter. Winslow Capital Management LLC now owns 1,646,297 shares of the technology company’s stock worth $358,300,000 after purchasing an additional 1,149,672 shares during the last quarter. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Brian Grassadonia sold 386 shares of the stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $205.00, for a total transaction of $79,130.00. Following the sale, the insider now owns 121,372 shares in the company, valued at $24,881,260. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James Morgan Jr. Mckelvey sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $247.70, for a total transaction of $49,540,000.00. Following the completion of the transaction, the director now owns 202,683 shares of the company’s stock, valued at $50,204,579.10. The disclosure for this sale can be found here. Insiders sold a total of 1,445,314 shares of company stock worth $337,843,402 in the last 90 days. 15.12% of the stock is currently owned by company insiders.

Shares of Square stock opened at $217.14 on Friday. Square, Inc. has a 12 month low of $84.06 and a 12 month high of $283.19. The stock has a market capitalization of $98.88 billion, a price-to-earnings ratio of 305.84, a P/E/G ratio of 10.41 and a beta of 2.40. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.68 and a quick ratio of 1.68. The firm’s fifty day moving average price is $230.53.

Square (NYSE:SQ) last posted its quarterly earnings data on Thursday, May 6th. The technology company reported $0.41 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.45. Square had a net margin of 2.72% and a return on equity of 9.32%. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Square’s quarterly revenue was up 266.4% on a year-over-year basis. As a group, equities analysts expect that Square, Inc. will post 0.43 EPS for the current year.

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Square from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, May 7th. The Goldman Sachs Group raised their price target on shares of Square from $216.00 to $246.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 24th. Rosenblatt Securities increased their price objective on Square from $320.00 to $330.00 and gave the company a “buy” rating in a report on Friday, May 7th. KeyCorp boosted their target price on Square from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, May 5th. Finally, BMO Capital Markets increased their price target on Square from $237.00 to $269.00 and gave the stock a “market perform” rating in a research note on Monday, May 10th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Square currently has a consensus rating of “Buy” and a consensus target price of $238.43.

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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