Squarespace, Inc. (NYSE:SQSP – Get Rating) major shareholder Venture Growth Associate Index sold 483,153 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $21.75, for a total transaction of $10,508,577.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Squarespace Stock Performance
Squarespace stock traded up $1.19 during trading hours on Friday, reaching $24.43. The stock had a trading volume of 592,723 shares, compared to its average volume of 591,443. Squarespace, Inc. has a 52 week low of $14.43 and a 52 week high of $52.33. The business’s 50 day moving average price is $21.24 and its 200-day moving average price is $24.14.
Squarespace (NYSE:SQSP – Get Rating) last issued its earnings results on Monday, July 25th. The company reported $0.45 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 analysts’ expectations of $212.01 million. During the same quarter in the prior year, the company earned ($3.22) EPS. Squarespace’s quarterly revenue was up 8.5% on a year-over-year basis. Research analysts expect that Squarespace, Inc. will post -0.09 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts have commented on SQSP shares. KeyCorp cut their price target on shares of Squarespace from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, July 26th. Piper Sandler decreased their price objective on shares of Squarespace from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, July 26th. Wedbush upgraded shares of Squarespace from a “neutral” rating to an “outperform” rating in a report on Friday, May 13th. The Goldman Sachs Group began coverage on shares of Squarespace in a research note on Monday, May 2nd. They issued a “neutral” rating and a $24.00 price target for the company. Finally, Barclays decreased their price target on shares of Squarespace from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 21st. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.77.
Institutional Trading of Squarespace
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Squarespace by 56.3% during the 1st quarter. Vanguard Group Inc. now owns 3,645,279 shares of the company’s stock valued at $93,392,000 after acquiring an additional 1,313,755 shares during the period. Riverbridge Partners LLC raised its position in shares of Squarespace by 8.7% during the 2nd quarter. Riverbridge Partners LLC now owns 2,527,330 shares of the company’s stock worth $52,872,000 after acquiring an additional 202,516 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Squarespace during the 1st quarter worth about $27,254,000. HighTower Advisors LLC raised its position in shares of Squarespace by 1.3% during the 1st quarter. HighTower Advisors LLC now owns 625,199 shares of the company’s stock worth $16,024,000 after acquiring an additional 8,063 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Squarespace by 953.4% during the first quarter. Bank of New York Mellon Corp now owns 441,633 shares of the company’s stock worth $11,314,000 after buying an additional 399,710 shares during the period. 37.53% of the stock is owned by institutional investors and hedge funds.
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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