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Shares of Squarespace, Inc. (NYSE:SQSP – Get Rating) saw an uptick in trading volume on Friday . 20,665 shares were traded during trading, a decline of 97% from the previous session’s volume of 629,176 shares.The stock last traded at $21.81 and had previously closed at $22.45.
Analyst Ratings Changes
A number of brokerages recently issued reports on SQSP. Piper Sandler cut their price objective on Squarespace from $26.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, July 26th. JMP Securities downgraded Squarespace from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 14th. The Goldman Sachs Group assumed coverage on Squarespace in a research note on Monday, May 2nd. They issued a “neutral” rating and a $24.00 price target for the company. Barclays dropped their price target 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. Finally, Wedbush upgraded Squarespace from a “neutral” rating to an “outperform” rating in a research note on Friday, May 13th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.77.
Squarespace Trading Down 0.1 %
The company has a fifty day moving average price of $21.46 and a 200-day moving average price of $23.78.
Squarespace (NYSE:SQSP – Get Rating) last issued its quarterly earnings data 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 firm had revenue of $212.70 million for the quarter, compared to analysts’ expectations of $212.01 million. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned ($3.22) earnings per share. As a group, equities research analysts predict that Squarespace, Inc. will post -0.09 earnings per share for the current fiscal year.
Insider Activity at Squarespace
In related news, major shareholder Ventures Growth I. Parall Index sold 34,696 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $20.02, for a total transaction of $694,613.92. Following the sale, the insider now owns 516,992 shares in the company, valued at approximately $10,350,179.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 document filed with the SEC, which is accessible through this hyperlink. 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 value of $694,613.92. Following the sale, the insider now owns 516,992 shares in the company, valued at approximately $10,350,179.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 548,486 shares of company stock worth $11,816,796. Company insiders own 45.51% of the company’s stock.
Institutional Trading of Squarespace
A number of hedge funds and other institutional investors have recently bought and sold shares of SQSP. Commonwealth Equity Services LLC purchased a new stake in Squarespace in the fourth quarter worth $298,000. Fifth Third Bancorp bought a new position in shares of Squarespace during the 4th quarter worth $50,000. Oppenheimer Asset Management Inc. bought a new position in shares of Squarespace during the 4th quarter worth $252,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Squarespace by 80.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,033 shares of the company’s stock worth $561,000 after buying an additional 8,478 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Squarespace by 198.6% during the 4th quarter. Northern Trust Corp now owns 149,932 shares of the company’s stock worth $4,423,000 after buying an additional 99,728 shares in the last quarter. Hedge funds and other institutional investors own 37.53% of the company’s stock.
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.
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