Squarespace, Inc. (NYSE:SQSP – Get Rating) major shareholder Ventures Growth I. Parall Index sold 63,029 shares of the business's stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $21.98, for a total transaction of $1,385,377.42. Following the transaction, the insider now directly owns 452,368 shares in the company, valued at $9,943,048.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Squarespace Trading Up 4.0 %
Shares of NYSE:SQSP traded up $0.90 during trading on Friday, reaching $23.48. The company had a trading volume of 335,134 shares, compared to its average volume of 569,786. The firm's fifty day moving average is $21.70 and its 200 day moving average is $22.61. Squarespace, Inc. has a twelve month low of $14.43 and a twelve month high of $48.89.
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Squarespace (NYSE:SQSP – Get Rating) last released its earnings results on Monday, July 25th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.09 by $0.36. The business had revenue of $212.70 million for the quarter, compared to analyst estimates of $212.01 million. During the same period in the prior year, the company earned ($3.22) earnings per share. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts anticipate that Squarespace, Inc. will post -0.09 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Squarespace
Several hedge funds have recently made changes to their positions in SQSP. Northern Trust Corp lifted its position in shares of Squarespace by 198.6% in the 4th quarter. Northern Trust Corp now owns 149,932 shares of the company's stock valued at $4,423,000 after acquiring an additional 99,728 shares in the last quarter. Bank of America Corp DE increased its stake in Squarespace by 866.5% in the 4th quarter. Bank of America Corp DE now owns 158,673 shares of the company's stock valued at $4,680,000 after buying an additional 142,255 shares during the period. Senvest Management LLC acquired a new position in Squarespace in the 4th quarter valued at approximately $1,033,000. Blair William & Co. IL increased its stake in shares of Squarespace by 21.2% during the 4th quarter. Blair William & Co. IL now owns 7,248 shares of the company's stock worth $214,000 after purchasing an additional 1,268 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Squarespace during the 4th quarter worth $1,113,000. Hedge funds and other institutional investors own 41.20% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on SQSP shares. Oppenheimer started coverage on shares of Squarespace in a research report on Tuesday, July 26th. They issued a "market perform" rating for the company. Piper Sandler dropped their price objective on Squarespace from $26.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday, July 26th. Barclays reduced their target price on Squarespace from $25.00 to $24.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 21st. JMP Securities lowered shares of Squarespace from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 14th. Finally, Wedbush upgraded shares of Squarespace from a "neutral" rating to an "outperform" rating in a research note on Friday, May 13th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $28.77.
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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