HarbourVest Partners LLC purchased a new stake in Squarespace, Inc. (NYSE:SQSP – Get Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 144,539 shares of the company's stock, valued at approximately $3,703,000. Squarespace makes up about 0.8% of HarbourVest Partners LLC's portfolio, making the stock its 20th biggest position. HarbourVest Partners LLC owned approximately 0.10% of Squarespace as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Captrust Financial Advisors lifted its position in shares of Squarespace by 2,128.1% in the 1st quarter. Captrust Financial Advisors now owns 1,270 shares of the company's stock valued at $33,000 after acquiring an additional 1,213 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in Squarespace in the 1st quarter valued at approximately $46,000. Parkside Financial Bank & Trust acquired a new position in Squarespace in the 1st quarter valued at approximately $58,000. Hardy Reed LLC acquired a new position in Squarespace in the 1st quarter valued at approximately $85,000. Finally, Advisor Group Holdings Inc. increased its stake in Squarespace by 93.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,336 shares of the company's stock valued at $85,000 after buying an additional 1,609 shares during the period. Hedge funds and other institutional investors own 41.20% of the company's stock.
Get Squarespace alerts:Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Truist Financial dropped their price objective on shares of Squarespace to $31.00 in a research note on Tuesday, July 26th. Oppenheimer assumed coverage on shares of Squarespace in a research note on Tuesday, July 26th. They issued a "market perform" rating on the stock. JMP Securities lowered shares of Squarespace from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 14th. 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 note on Tuesday, July 26th. Finally, Piper Sandler dropped their price target on shares of Squarespace from $26.00 to $21.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 26th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Squarespace presently has an average rating of "Hold" and an average price target of $28.77.
Insider Buying and Selling at Squarespace
In other Squarespace news, major shareholder Venture Growth Associate Index sold 483,153 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $21.75, for a total value of $10,508,577.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Squarespace news, major shareholder Venture Growth Associate Index sold 483,153 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $21.75, for a total value of $10,508,577.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ventures Growth I. Parall Index sold 34,696 shares of the stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $20.02, for a total transaction of $694,613.92. Following the completion of the sale, the insider now directly owns 516,992 shares of the company's stock, valued at $10,350,179.84. The disclosure for this sale can be found here. Insiders sold a total of 613,110 shares of company stock valued at $13,238,858 in the last ninety days. Company insiders own 45.51% of the company's stock.Squarespace Stock Performance
NYSE:SQSP traded down $0.12 during midday trading on Wednesday, reaching $22.69. The stock had a trading volume of 9,365 shares, compared to its average volume of 571,743. Squarespace, Inc. has a 1-year low of $14.43 and a 1-year high of $48.89. The firm's fifty day simple moving average is $21.77 and its 200-day simple moving average is $22.48.
Squarespace (NYSE:SQSP – Get Rating) last posted its earnings results on Monday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.36. The firm had revenue of $212.70 million during the quarter, compared to analyst estimates of $212.01 million. During the same quarter in the previous year, the business posted ($3.22) earnings per share. The business's quarterly revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Squarespace, Inc. will post -0.09 EPS for the current year.
Squarespace 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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