Envestnet Asset Management Inc. purchased a new position in Squarespace, Inc. (NYSE:SQSP – Get Rating) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 92,354 shares of the company’s stock, valued at approximately $2,366,000. Envestnet Asset Management Inc. owned about 0.07% of Squarespace at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of SQSP. Icon Wealth Partners LLC acquired a new position in Squarespace in the first quarter valued at about $435,000. Riverbridge Partners LLC raised its stake in shares of Squarespace by 97.8% during the first quarter. Riverbridge Partners LLC now owns 2,324,814 shares of the company’s stock worth $59,562,000 after buying an additional 1,149,501 shares during the last quarter. FDx Advisors Inc. bought a new stake in shares of Squarespace during the first quarter worth approximately $399,000. Compagnie Lombard Odier SCmA raised its stake in shares of Squarespace by 100.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 2,000 shares of the company’s stock worth $59,000 after buying an additional 1,000 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Squarespace by 198.6% during the fourth quarter. Northern Trust Corp now owns 149,932 shares of the company’s stock valued at $4,423,000 after purchasing an additional 99,728 shares during the period. 37.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on SQSP. KeyCorp reduced their price target on shares of Squarespace from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, July 26th. The Goldman Sachs Group initiated coverage on shares of Squarespace in a research report on Monday, May 2nd. They set a “neutral” rating and a $24.00 price target on the stock. Barclays lowered their price target on shares of Squarespace from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 21st. Oppenheimer began coverage on shares of Squarespace in a research note on Tuesday, July 26th. They set a “market perform” rating on the stock. Finally, Truist Financial reduced their price objective on shares of Squarespace to $31.00 in a research note on Tuesday, July 26th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $28.77.
Squarespace Stock Performance
Squarespace stock opened at $21.87 on Thursday. Squarespace, Inc. has a 52-week low of $14.43 and a 52-week high of $48.89. The firm has a 50 day moving average price of $21.55 and a two-hundred day moving average price of $23.67.
Squarespace (NYSE:SQSP – Get Rating) last released its quarterly earnings data on Monday, July 25th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.36. The company had revenue of $212.70 million during the quarter, compared to the consensus estimate of $212.01 million. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($3.22) EPS. Equities analysts expect that Squarespace, Inc. will post -0.09 earnings per share for the current fiscal year.
Insider Activity
In other news, major shareholder Venture Growth Associate Index sold 483,153 shares of Squarespace 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Venture Growth Associate Index sold 483,153 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $21.75, for a total transaction of $10,508,577.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ventures Growth I. Parall Index sold 1,595 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $23.00, for a total value of $36,685.00. Following the completion of the transaction, the insider now directly owns 515,397 shares in the company, valued at $11,854,131. The disclosure for this sale can be found here. Insiders sold 550,081 shares of company stock worth $11,853,481 in the last quarter. 45.51% of the stock is owned by corporate insiders.
Squarespace Company Profile
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.
See Also
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