Grandeur Peak Global Advisors LLC raised its holdings in Squarespace, Inc. (NYSE:SQSP – Get Rating) by 71.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 393,890 shares of the company's stock after purchasing an additional 163,554 shares during the quarter. Grandeur Peak Global Advisors LLC owned 0.28% of Squarespace worth $10,091,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Hardy Reed LLC acquired a new position in shares of Squarespace during the first quarter worth $85,000. Advisor Group Holdings Inc. grew its holdings in shares of Squarespace by 93.2% during the first quarter. Advisor Group Holdings Inc. now owns 3,336 shares of the company's stock worth $85,000 after purchasing an additional 1,609 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Squarespace in the first quarter valued at approximately $207,000. Blair William & Co. IL raised its holdings in Squarespace by 21.2% in the 4th quarter. Blair William & Co. IL now owns 7,248 shares of the company's stock valued at $214,000 after buying an additional 1,268 shares during the last quarter. Finally, abrdn plc bought a new position in Squarespace in the 1st quarter valued at approximately $265,000. Institutional investors and hedge funds own 41.20% of the company's stock.
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Squarespace Stock Up 1.7 %
Shares of NYSE:SQSP opened at $21.14 on Tuesday. The stock's 50-day moving average price is $21.70 and its 200-day moving average price is $22.94. Squarespace, Inc. has a 12-month low of $14.43 and a 12-month high of $48.89.
Squarespace (NYSE:SQSP – Get Rating) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.36. The company had revenue of $212.70 million for the quarter, compared to the consensus estimate of $212.01 million. During the same quarter in the previous year, the business earned ($3.22) earnings per share. Squarespace's revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts predict that Squarespace, Inc. will post -0.09 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on SQSP shares. Oppenheimer initiated coverage on shares of Squarespace in a research report on Tuesday, July 26th. They set a "market perform" rating for the company. Credit Suisse Group started coverage on Squarespace in a research note on Tuesday, May 31st. They issued a "neutral" rating and a $25.00 price objective for the company. KeyCorp dropped their price target on shares of Squarespace from $30.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 26th. Barclays decreased their price objective on shares of Squarespace from $25.00 to $24.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 21st. Finally, Piper Sandler cut their target price on Squarespace from $26.00 to $21.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 26th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Squarespace has a consensus rating of "Hold" and an average price target of $28.77.
Insider Buying and Selling
In other Squarespace news, major shareholder Ventures Growth I. Parall Index sold 29,537 shares of the firm's stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $20.00, for a total value of $590,740.00. Following the sale, the insider now owns 551,888 shares of the company's stock, valued at approximately $11,037,760. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Squarespace news, major shareholder Ventures Growth I. Parall Index sold 34,696 shares of the company's stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $20.02, for a total value of $694,613.92. Following the completion of the transaction, the insider now directly owns 516,992 shares in the company, valued at approximately $10,350,179.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ventures Growth I. Parall Index sold 29,537 shares of the business's stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $20.00, for a total transaction of $590,740.00. Following the transaction, the insider now owns 551,888 shares in the company, valued at approximately $11,037,760. The disclosure for this sale can be found here. Insiders have sold a total of 550,081 shares of company stock valued at $11,853,481 over the last three months. 45.51% of the stock is owned by company insiders.
Squarespace Company Profile
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Squarespace, Inc operates platform for businesses and independent creators to build online presence, grow their brands, and manage their businesses across the internet. Its suite of integrated products enables users to manage their projects and businesses through websites, domains, e-commerce, marketing tools, and scheduling, as well as tools for managing a social media presence.
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