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Squarespace, Inc. (NYSE:SQSP – Get Rating) major shareholder Ventures Growth I. Parall Index sold 63,029 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $21.98, for a total value of $1,385,377.42. Following the completion of the sale, the insider now owns 452,368 shares of the company’s stock, valued at $9,943,048.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Squarespace Stock Performance
NYSE:SQSP traded up $0.90 during trading hours on Friday, hitting $23.48. The company’s stock had a trading volume of 335,134 shares, compared to its average volume of 569,786. The stock has a fifty day moving average of $21.70 and a 200-day moving average of $22.61. Squarespace, Inc. has a 52-week low of $14.43 and a 52-week 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 (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 business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($3.22) EPS. On average, sell-side analysts anticipate that Squarespace, Inc. will post -0.09 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Squarespace
Hedge funds have recently made changes to their positions in the company. Icon Wealth Partners LLC purchased a new position in shares of Squarespace during the first quarter worth about $435,000. Riverbridge Partners LLC grew its holdings 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 purchasing an additional 1,149,501 shares during the last quarter. FDx Advisors Inc. purchased a new position in shares of Squarespace during the first quarter worth about $399,000. Northern Trust Corp grew its holdings in shares of Squarespace by 198.6% during the fourth 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 during the last quarter. Finally, Hawk Ridge Capital Management LP purchased a new position in shares of Squarespace during the first quarter worth about $3,187,000. Hedge funds and other institutional investors own 41.20% of the company’s stock.
Analyst Ratings Changes
SQSP has been the subject of a number of analyst reports. Credit Suisse Group initiated coverage on Squarespace in a research report on Tuesday, May 31st. They issued a “neutral” rating and a $25.00 price target for the company. KeyCorp lowered their price objective on Squarespace from $30.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, July 26th. JMP Securities lowered Squarespace from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 14th. Oppenheimer began coverage on Squarespace in a research note on Tuesday, July 26th. They set a “market perform” rating on the stock. 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 five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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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