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Squarespace (NYSE: SQSP) recently received a number of ratings updates from brokerages and research firms:
- 7/26/2022 – Squarespace had its price target lowered by analysts at KeyCorp from $30.00 to $25.00. They now have an “overweight” rating on the stock.
- 7/26/2022 – Squarespace had its price target lowered by analysts at Piper Sandler from $26.00 to $21.00. They now have a “neutral” rating on the stock.
- 7/26/2022 – Squarespace is now covered by analysts at Oppenheimer Holdings Inc.. They set a “market perform” rating on the stock.
- 7/26/2022 – Squarespace had its price target lowered by analysts at Truist Financial Co. to $31.00.
- 7/14/2022 – Squarespace was downgraded by analysts at JMP Securities from an “outperform” rating to a “market perform” rating.
- 6/21/2022 – Squarespace had its price target lowered by analysts at Barclays PLC from $25.00 to $24.00. They now have an “equal weight” rating on the stock.
Squarespace Stock Performance
Shares of Squarespace stock traded up $0.09 on Thursday, hitting $23.24. 689,019 shares of the company traded hands, compared to its average volume of 591,435. The firm’s 50-day simple moving average is $21.18 and its 200 day simple moving average is $24.18. Squarespace, Inc. has a 12-month low of $14.43 and a 12-month high of $52.33.
Squarespace (NYSE:SQSP – Get Rating) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $212.01 million. Squarespace’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($3.22) EPS. On average, equities research analysts expect that Squarespace, Inc. will post -0.09 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Squarespace news, major shareholder Ventures Growth I. Parall Index sold 34,696 shares of the firm’s 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 of the company’s stock, valued at approximately $10,350,179.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Squarespace news, major shareholder Ventures Growth I. Parall Index sold 34,696 shares of the firm’s 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 of the company’s stock, valued at approximately $10,350,179.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Ventures Growth I. Parall Index sold 29,537 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $20.00, for a total transaction of $590,740.00. Following the completion of the sale, the insider now directly owns 551,888 shares in the company, valued at approximately $11,037,760. The disclosure for this sale can be found here. Insiders have sold a total of 65,333 shares of company stock valued at $1,308,218 in the last quarter. Insiders own 45.51% of the company’s stock.
Institutional Investors Weigh In On Squarespace
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position 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 lifted its position in Squarespace by 8.7% during the 2nd quarter. Riverbridge Partners LLC now owns 2,527,330 shares of the company’s stock valued at $52,872,000 after acquiring an additional 202,516 shares during the period. First Trust Advisors LP purchased a new position in Squarespace during the 1st quarter valued at about $27,254,000. HighTower Advisors LLC lifted its position in Squarespace by 1.3% during the 1st quarter. HighTower Advisors LLC now owns 625,199 shares of the company’s stock valued at $16,024,000 after acquiring an additional 8,063 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Squarespace by 953.4% during the 1st quarter. Bank of New York Mellon Corp now owns 441,633 shares of the company’s stock valued at $11,314,000 after acquiring an additional 399,710 shares during the period. Institutional investors own 37.53% of the company’s stock.
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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