Next Century Growth Investors LLC Has $1.38 Million Stock Position in Square, Inc. (NYSE:SQ)

Next Century Growth Investors LLC decreased its stake in shares of Square, Inc. (NYSE:SQ) by 3.7% during the 2nd quarter, Holdings Channel reports. The firm owned 5,641 shares of the technology company’s stock after selling 219 shares during the period. Next Century Growth Investors LLC’s holdings in Square were worth $1,375,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC boosted its stake in Square by 308.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 102 shares of the technology company’s stock valued at $25,000 after purchasing an additional 77 shares during the period. Wagner Wealth Management LLC bought a new stake in shares of Square during the 1st quarter valued at $30,000. Loomis Sayles & Co. L P lifted its position in shares of Square by 178.4% during the 1st quarter. Loomis Sayles & Co. L P now owns 142 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares during the period. PNC Managed Account Solutions Inc. bought a new stake in shares of Square during the 2nd quarter worth $37,000. Finally, Pflug Koory LLC bought a new stake in shares of Square during the 2nd quarter worth $38,000. 62.65% of the stock is currently owned by institutional investors and hedge funds.

Square stock traded up $7.88 during midday trading on Thursday, reaching $250.61. 129,620 shares of the stock traded hands, compared to its average volume of 9,228,007. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.77. Square, Inc. has a 12 month low of $151.10 and a 12 month high of $289.23. The stock has a market cap of $115.20 billion, a P/E ratio of 217.53, a PEG ratio of 10.06 and a beta of 2.43. The stock’s fifty day moving average is $257.13 and its 200-day moving average is $243.37.

Square (NYSE:SQ) last posted its quarterly earnings data on Saturday, July 31st. The technology company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.35. Square had a net margin of 3.60% and a return on equity of 16.94%. The business had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the business posted $0.18 earnings per share. The business’s revenue was up 143.3% compared to the same quarter last year. On average, equities analysts predict that Square, Inc. will post 0.81 EPS for the current fiscal year.

In other news, insider Brian Grassadonia sold 3,667 shares of the stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $268.52, for a total transaction of $984,662.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 200,000 shares of the stock in a transaction dated Tuesday, August 17th. The stock was sold at an average price of $260.20, for a total transaction of $52,040,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 289,381 shares of company stock valued at $75,140,618. 15.12% of the stock is owned by insiders.

A number of brokerages have issued reports on SQ. Cowen raised Square from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $266.00 to $343.00 in a report on Tuesday, August 3rd. Oddo Bhf raised shares of Square from a “neutral” rating to an “outperform” rating and set a $340.00 target price on the stock in a report on Monday, August 2nd. Royal Bank of Canada boosted their price target on shares of Square from $305.00 to $312.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Square from $281.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, August 3rd. Finally, TheStreet downgraded shares of Square from a “b-” rating to a “c+” rating in a report on Wednesday, September 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $288.31.

Square Company Profile

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.

Further Reading: Strike Price

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Institutional Ownership by Quarter for Square (NYSE:SQ)

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