William Blair Reaffirms Market Perform Rating for Squarespace (NYSE:SQSP)

William Blair reissued their market perform rating on shares of Squarespace (NYSE:SQSP) in a report issued on Monday, Marketbeat reports.

Other research analysts have also issued reports about the company. Mizuho lowered Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research report on Monday, August 5th. Barclays raised their target price on Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. Finally, UBS Group upped their price target on Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $43.14.

Squarespace Trading Down 0.2 %

Shares of NYSE:SQSP opened at $46.57 on Monday. Squarespace has a 1-year low of $26.70 and a 1-year high of $46.69. The stock has a market capitalization of $6.40 billion, a P/E ratio of -931.40, a P/E/G ratio of 8.32 and a beta of 0.62. The business has a 50-day moving average price of $45.76 and a two-hundred day moving average price of $42.84.

Squarespace (NYSE:SQSP) last posted its quarterly earnings results 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 company had revenue of $296.80 million for the quarter, compared to analyst estimates of $293.12 million. During the same period last year, the business posted $0.03 earnings per share. Squarespace’s revenue was up 19.9% compared to the same quarter last year. As a group, equities analysts predict that Squarespace will post 0.28 EPS for the current year.

Insider Activity at Squarespace

In other Squarespace news, CEO Anthony Casalena sold 92,511 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.51, for a total transaction of $4,302,686.61. Following the sale, the chief executive officer now directly owns 880,909 shares of the company’s stock, valued at $40,971,077.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Anthony Casalena sold 92,511 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.51, for a total transaction of $4,302,686.61. Following the transaction, the chief executive officer now directly owns 880,909 shares in the company, valued at approximately $40,971,077.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $46.29, for a total transaction of $115,725.00. Following the transaction, the insider now owns 46,269 shares in the company, valued at $2,141,792.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 538,718 shares of company stock valued at $24,792,057. Corporate insiders own 44.96% of the company’s stock.

Institutional Investors Weigh In On Squarespace

Several hedge funds have recently added to or reduced their stakes in the business. Brooklyn FI LLC bought a new position in shares of Squarespace in the first quarter valued at about $679,000. Russell Investments Group Ltd. grew its position in shares of Squarespace by 5.0% in the first quarter. Russell Investments Group Ltd. now owns 253,812 shares of the company’s stock valued at $9,263,000 after purchasing an additional 12,180 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Squarespace by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock worth $244,114,000 after purchasing an additional 354,057 shares during the period. Acadian Asset Management LLC lifted 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 worth $59,643,000 after purchasing an additional 317,416 shares during the last quarter. Finally, Glazer Capital LLC bought a new position in Squarespace during the 2nd quarter worth $96,206,000. Institutional investors and hedge funds own 92.30% of the company’s stock.

Squarespace Company Profile

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.