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Squarespace, Inc. (NYSE:SQSP – Get Rating) major shareholder Ventures Growth I. Parall Index sold 1,595 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $23.00, for a total value of $36,685.00. Following the transaction, the insider now directly owns 515,397 shares of the company’s stock, valued at approximately $11,854,131. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Squarespace Stock Performance
Shares of NYSE SQSP opened at $22.21 on Tuesday. Squarespace, Inc. has a one year low of $14.43 and a one year high of $48.89. The business has a 50-day moving average price of $21.50 and a two-hundred day moving average price of $23.69.
Squarespace (NYSE:SQSP – Get Rating) last announced its quarterly earnings data on Monday, July 25th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business posted ($3.22) earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. As a group, analysts anticipate that Squarespace, Inc. will post -0.09 earnings per share for the current year.
Institutional Investors Weigh In On Squarespace
A number of hedge funds and other institutional investors have recently made changes to their positions in SQSP. Commonwealth Equity Services LLC purchased a new stake in shares of Squarespace during the 4th quarter worth about $298,000. Fifth Third Bancorp purchased a new stake in shares of Squarespace during the 4th quarter worth about $50,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Squarespace during the 4th quarter worth about $252,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Squarespace by 80.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,033 shares of the company’s stock valued at $561,000 after acquiring an additional 8,478 shares in the last quarter. Finally, Northern Trust Corp raised its stake 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. 37.53% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on SQSP shares. Credit Suisse Group started coverage on Squarespace in a research note on Tuesday, May 31st. They set a “neutral” rating and a $25.00 target price for the company. KeyCorp decreased their target price on Squarespace from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, July 26th. Barclays decreased 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. Citigroup began coverage on Squarespace in a research report on Tuesday, April 19th. They issued a “neutral” rating and a $25.00 price target for the company. Finally, Oppenheimer began coverage on Squarespace in a research report on Tuesday, July 26th. They issued a “market perform” rating for the company. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.77.
About Squarespace
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.
Further Reading
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