AE Wealth Management LLC acquired a new position in shares of Squarespace, Inc. (NYSE:SQSP – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 18,008 shares of the company’s stock, valued at approximately $568,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Squarespace by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,774,485 shares of the company’s stock valued at $101,984,000 after acquiring an additional 419,488 shares in the last quarter. Wellington Management Group LLP grew its position in Squarespace by 438.4% in the 1st quarter. Wellington Management Group LLP now owns 3,169,388 shares of the company’s stock valued at $100,691,000 after acquiring an additional 2,580,712 shares in the last quarter. BlackRock Inc. grew its position in Squarespace by 3.3% in the 1st quarter. BlackRock Inc. now owns 2,471,004 shares of the company’s stock valued at $78,504,000 after acquiring an additional 79,517 shares in the last quarter. First Trust Advisors LP acquired a new position in Squarespace in the 1st quarter valued at about $27,254,000. Finally, Price T Rowe Associates Inc. MD grew its position in Squarespace by 114.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 763,081 shares of the company’s stock valued at $24,244,000 after acquiring an additional 406,901 shares in the last quarter. 43.73% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
SQSP has been the subject of several research reports. DA Davidson initiated coverage on Squarespace in a research report on Wednesday, July 26th. They issued a “buy” rating and a $40.00 target price for the company. The Goldman Sachs Group lifted their price objective on Squarespace from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. UBS Group initiated coverage on Squarespace in a research note on Friday, September 22nd. They issued a “buy” rating and a $40.00 price objective for the company. Mizuho lifted their price objective on Squarespace from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Finally, Royal Bank of Canada lifted their price objective on Squarespace from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 9th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.50.
Squarespace Trading Up 0.7 %
Shares of NYSE SQSP opened at $29.09 on Friday. Squarespace, Inc. has a twelve month low of $16.86 and a twelve month high of $34.38. The stock has a 50 day moving average of $30.41 and a two-hundred day moving average of $30.35. The stock has a market cap of $3.94 billion, a P/E ratio of -17.96 and a beta of 0.42.
Squarespace (NYSE:SQSP – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.03 earnings per share 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 analysts’ expectations of $243.34 million. During the same quarter in the prior year, the firm posted $0.45 EPS. Squarespace’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, research analysts predict that Squarespace, Inc. will post 0.28 earnings per share for the current year.
Insider Buying and Selling at Squarespace
In other Squarespace news, General Counsel Courtenay O’connor sold 1,749 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $29.18, for a total value of $51,035.82. Following the completion of the sale, the general counsel now owns 38,384 shares in the company, valued at $1,120,045.12. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Squarespace news, General Counsel Courtenay O’connor sold 1,749 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $29.18, for a total value of $51,035.82. Following the completion of the sale, the general counsel now owns 38,384 shares in the company, valued at $1,120,045.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul Gubbay sold 4,876 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $30.34, for a total value of $147,937.84. Following the completion of the transaction, the insider now directly owns 20,363 shares in the company, valued at approximately $617,813.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,059,508 shares of company stock worth $169,626,253. 47.14% of the stock is owned by insiders.
Squarespace 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, scheduling, and hospitality services, as well as tools for managing a social media presence.
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