Nordea Investment Management AB Increases Position in Square, Inc. (NYSE:SQ)

Nordea Investment Management AB increased its stake in Square, Inc. (NYSE:SQGet Rating) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 256,574 shares of the technology company’s stock after purchasing an additional 7,028 shares during the quarter. Nordea Investment Management AB’s holdings in Square were worth $35,615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hussman Strategic Advisors Inc. purchased a new position in shares of Square in the 4th quarter valued at about $1,260,000. Kingsview Wealth Management LLC grew its stake in Square by 2.0% in the 3rd quarter. Kingsview Wealth Management LLC now owns 6,696 shares of the technology company’s stock valued at $1,606,000 after acquiring an additional 129 shares during the last quarter. Partners Capital Investment Group LLP grew its stake in Square by 10,035.2% in the 4th quarter. Partners Capital Investment Group LLP now owns 47,838 shares of the technology company’s stock valued at $7,726,000 after acquiring an additional 47,366 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Square in the 4th quarter valued at about $612,000. Finally, HBW Advisory Services LLC grew its stake in Square by 60.6% in the 4th quarter. HBW Advisory Services LLC now owns 1,559 shares of the technology company’s stock valued at $252,000 after acquiring an additional 588 shares during the last quarter. Institutional investors and hedge funds own 54.56% of the company’s stock.

SQ has been the topic of a number of research reports. Robert W. Baird reissued an “outperform” rating and issued a $120.00 price objective on shares of Square in a research note on Thursday, May 19th. Wolfe Research reissued a “buy” rating and issued a $170.00 price objective on shares of Square in a research note on Friday, April 8th. BMO Capital Markets lowered their price objective on shares of Square from $126.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, May 20th. DA Davidson decreased their price target on shares of Square from $275.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, February 28th. Finally, Piper Sandler decreased their price target on shares of Square from $130.00 to $105.00 in a research note on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.83.

SQ opened at $60.65 on Thursday. The firm has a market capitalization of $35.18 billion, a P/E ratio of -404.31 and a beta of 2.38. The firm’s 50 day moving average is $87.44 and its 200-day moving average is $117.03. Square, Inc. has a 52-week low of $56.01 and a 52-week high of $289.23. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.26.

Square (NYSE:SQGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The technology company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $4.14 billion. Square had a negative net margin of 0.46% and a positive return on equity of 0.74%. The company’s revenue for the quarter was down 21.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 EPS. Equities analysts expect that Square, Inc. will post -0.7 earnings per share for the current fiscal year.

In other news, insider Brian Grassadonia sold 5,051 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $141.79, for a total transaction of $716,181.29. Following the completion of the sale, the insider now owns 128,744 shares of the company’s stock, valued at $18,254,611.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alyssa Henry sold 30,770 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $80.86, for a total transaction of $2,488,062.20. Following the sale, the insider now directly owns 433,436 shares of the company’s stock, valued at approximately $35,047,634.96. The disclosure for this sale can be found here. Insiders have sold 165,395 shares of company stock valued at $13,443,427 in the last three months. Corporate insiders own 15.12% of the company’s stock.

Square Company Profile (Get Rating)

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

Institutional Ownership by Quarter for Square (NYSE:SQ)

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