Shares of Squarespace, Inc. (NYSE:SQSP – Get Free Report) have earned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $43.14.
A number of equities analysts have weighed in on SQSP shares. UBS Group upped their price target on Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Barclays increased their target price on shares of Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. Finally, Mizuho lowered shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research note on Monday, August 5th.
View Our Latest Analysis on Squarespace
Squarespace Stock Performance
Squarespace (NYSE:SQSP – Get Free Report) last issued its earnings results on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $293.12 million. The company’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 EPS. On average, analysts anticipate that Squarespace will post 0.28 EPS for the current fiscal year.
Insider Buying and Selling at Squarespace
In related news, CEO Anthony Casalena sold 68,659 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $44.18, for a total value of $3,033,354.62. Following the sale, the chief executive officer now directly owns 1,698,304 shares of the company’s stock, valued at $75,031,070.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $44.12, for a total value of $110,300.00. Following the sale, the insider now owns 37,486 shares in the company, valued at $1,653,882.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Anthony Casalena sold 68,659 shares of Squarespace stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $44.18, for a total transaction of $3,033,354.62. Following the transaction, the chief executive officer now directly owns 1,698,304 shares in the company, valued at approximately $75,031,070.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 506,089 shares of company stock worth $23,111,005 over the last three months. Corporate insiders own 44.96% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Squarespace by 18.1% in the 4th quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock worth $273,457,000 after acquiring an additional 1,268,698 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Squarespace by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock worth $244,114,000 after acquiring an additional 354,057 shares during the period. Glazer Capital LLC purchased a new position in Squarespace during the second quarter valued at $96,206,000. Renaissance Technologies LLC lifted its position in shares of Squarespace by 19.8% in the second quarter. Renaissance Technologies LLC now owns 1,769,994 shares of the company’s stock worth $77,225,000 after buying an additional 292,600 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Squarespace by 24.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock valued at $59,643,000 after buying an additional 317,416 shares in the last quarter. 92.30% of the stock is currently owned by hedge funds and other institutional investors.
About Squarespace
Squarespace, Inc operates platform for businesses and independent creators to build online presence, grow their brands, and manage their businesses across the internet in the United States and internationally. It enables users to manage their projects and businesses through websites, domains, e-commerce, marketing tools, scheduling, and hospitality services, as well as tools for managing a social media presence.
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