Landscape Capital Management L.L.C. trimmed its stake in shares of Squarespace, Inc. (NYSE:SQSP – Free Report) by 78.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,515 shares of the company’s stock after selling 26,586 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Squarespace were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. Captrust Financial Advisors lifted its holdings in shares of Squarespace by 2,128.1% in the first quarter. Captrust Financial Advisors now owns 1,270 shares of the company’s stock valued at $33,000 after buying an additional 1,213 shares during the period. Point72 Middle East FZE acquired a new position in shares of Squarespace in the 4th quarter worth approximately $30,000. Advisors Asset Management Inc. bought a new stake in shares of Squarespace in the 1st quarter worth approximately $46,000. Clear Street Markets LLC bought a new stake in shares of Squarespace in the 4th quarter worth approximately $43,000. Finally, Parkside Financial Bank & Trust acquired a new stake in Squarespace during the first quarter valued at approximately $58,000. 40.38% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have issued reports on SQSP. Royal Bank of Canada upped their price target on Squarespace from $30.00 to $32.00 and gave the company a “sector perform” rating in a report on Wednesday, August 9th. Piper Sandler increased their price objective on Squarespace from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. William Blair reissued an “outperform” rating on shares of Squarespace in a report on Thursday, June 8th. Barclays lifted their price target on shares of Squarespace from $29.00 to $33.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 8th. Finally, Mizuho lifted their target price on Squarespace from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 9th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Squarespace currently has an average rating of “Moderate Buy” and a consensus target price of $34.08.
Insider Buying and Selling at Squarespace
In other Squarespace news, CEO Anthony Casalena sold 34,517 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $30.13, for a total value of $1,039,997.21. Following the transaction, the chief executive officer now owns 4,895,658 shares of the company’s stock, valued at $147,506,175.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Squarespace news, CEO Anthony Casalena sold 34,517 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $30.13, for a total value of $1,039,997.21. Following the completion of the transaction, the chief executive officer now directly owns 4,895,658 shares of the company’s stock, valued at $147,506,175.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Courtenay O’connor sold 2,091 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $30.55, for a total transaction of $63,880.05. Following the transaction, the general counsel now owns 38,216 shares in the company, valued at $1,167,498.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 319,310 shares of company stock worth $10,054,478. 47.14% of the stock is currently owned by insiders.
Squarespace Price Performance
Shares of NYSE SQSP opened at $30.23 on Monday. Squarespace, Inc. has a 52-week low of $16.86 and a 52-week high of $34.38. The business has a fifty day moving average of $31.20 and a two-hundred day moving average of $29.27.
Squarespace (NYSE:SQSP – Get Free Report) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.17). Squarespace had a negative net margin of 23.60% and a negative return on equity of 2.24%. The firm had revenue of $247.50 million during the quarter, compared to analyst estimates of $243.34 million. During the same quarter last year, the firm earned $0.45 earnings per share. Squarespace’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, equities analysts forecast that Squarespace, Inc. will post 0.28 earnings per share for the current fiscal year.
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. Its suite of integrated products 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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