Squarespace, Inc. (NYSE:SQSP – Get Rating) major shareholder Ventures Growth I. Parall Index sold 1,595 shares of Squarespace stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $23.00, for a total transaction of $36,685.00. Following the completion of the sale, the insider now owns 515,397 shares of the company’s stock, valued at $11,854,131. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Squarespace Price Performance
Shares of NYSE SQSP traded up $0.43 during mid-day trading on Monday, hitting $22.21. The company had a trading volume of 351,918 shares, compared to its average volume of 589,758. The firm has a 50-day simple moving average of $21.46 and a two-hundred day simple moving average of $23.75. Squarespace, Inc. has a one year low of $14.43 and a one year high of $48.89.
Squarespace (NYSE:SQSP – Get Rating) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.36. The business had revenue of $212.70 million during the quarter, compared to the consensus estimate of $212.01 million. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($3.22) EPS. As a group, sell-side analysts predict that Squarespace, Inc. will post -0.09 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Squarespace
A number of institutional investors have recently added to or reduced their stakes in SQSP. Compagnie Lombard Odier SCmA lifted its stake in shares of Squarespace by 100.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 2,000 shares of the company’s stock valued at $59,000 after buying an additional 1,000 shares in the last quarter. Captrust Financial Advisors lifted its stake in Squarespace by 2,128.1% in the 1st quarter. Captrust Financial Advisors now owns 1,270 shares of the company’s stock worth $33,000 after purchasing an additional 1,213 shares in the last quarter. Blair William & Co. IL lifted its stake in Squarespace by 21.2% in the 4th quarter. Blair William & Co. IL now owns 7,248 shares of the company’s stock worth $214,000 after purchasing an additional 1,268 shares in the last quarter. Advisor Group Holdings Inc. lifted 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 worth $85,000 after purchasing an additional 1,609 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in Squarespace in the 4th quarter worth approximately $50,000. 37.53% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently commented on SQSP. Wedbush upgraded shares of Squarespace from a “neutral” rating to an “outperform” rating in a research note on Friday, May 13th. Citigroup began coverage on shares of Squarespace in a research note on Tuesday, April 19th. They issued a “neutral” rating and a $25.00 price target for the company. Barclays dropped 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 report on Tuesday, June 21st. The Goldman Sachs Group assumed coverage on shares of Squarespace in a research note on Monday, May 2nd. They set a “neutral” rating and a $24.00 price target on the stock. Finally, JMP Securities cut shares of Squarespace from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 14th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Squarespace presently has a consensus rating of “Hold” and an average price target of $28.77.
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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