Squarespace (NYSE:SQSP) Downgraded by Mizuho to Neutral

Mizuho downgraded shares of Squarespace (NYSE:SQSP) from an outperform rating to a neutral rating in a research note released on Monday, MarketBeat reports. Mizuho currently has $44.00 price target on the stock.

Several other equities analysts have also recently issued reports on SQSP. B. Riley cut shares of Squarespace from a buy rating to a neutral rating and set a $43.00 target price for the company. in a research note on Tuesday, June 11th. Barclays boosted their price target on shares of Squarespace from $40.00 to $44.00 and gave the stock an equal weight rating in a report on Tuesday, May 14th. William Blair reissued an outperform rating on shares of Squarespace in a report on Wednesday, May 8th. Baird R W lowered shares of Squarespace from a strong-buy rating to a hold rating in a report on Monday, May 13th. Finally, UBS Group reaffirmed a neutral rating and set a $44.00 target price (up previously from $43.00) on shares of Squarespace in a report on Tuesday, May 14th. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $41.75.

Squarespace Trading Down 0.6 %

Shares of SQSP stock traded down $0.26 during mid-day trading on Monday, reaching $44.11. The stock had a trading volume of 1,761,772 shares, compared to its average volume of 960,334. The business’s fifty day moving average is $43.79 and its 200-day moving average is $38.19. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of -888.00, a PEG ratio of 5.06 and a beta of 0.62. Squarespace has a 1-year low of $26.70 and a 1-year high of $44.56.

Squarespace (NYSE:SQSP) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The firm had revenue of $296.80 million during the quarter, compared to analyst estimates of $293.12 million. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share. On average, analysts forecast that Squarespace will post 0.44 earnings per share for the current year.

Insider Transactions at Squarespace

In other news, CEO Anthony Casalena sold 66,983 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $36.87, for a total transaction of $2,469,663.21. Following the sale, the chief executive officer now owns 2,706,335 shares of the company’s stock, valued at $99,782,571.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Anthony Casalena sold 66,983 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $36.87, for a total transaction of $2,469,663.21. Following the sale, the chief executive officer now owns 2,706,335 shares of the company’s stock, valued at $99,782,571.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Courtenay O’connor sold 3,569 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $43.48, for a total transaction of $155,180.12. Following the sale, the general counsel now directly owns 57,296 shares in the company, valued at approximately $2,491,230.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 455,862 shares of company stock valued at $19,387,341. 44.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Squarespace

A number of large investors have recently made changes to their positions in SQSP. Wellington Management Group LLP increased its stake in shares of Squarespace by 18.1% during the fourth quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock worth $273,457,000 after buying an additional 1,268,698 shares during the period. Kodai Capital Management LP purchased a new position in shares of Squarespace during the first quarter worth approximately $36,938,000. Vanguard Group Inc. grew its position in shares of Squarespace by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company’s stock worth $209,449,000 after acquiring an additional 479,712 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Squarespace during the second quarter worth $18,164,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Squarespace by 24.0% during the first quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock worth $59,643,000 after purchasing an additional 317,416 shares during the period. 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.