Squarespace, Inc. (NYSE:SQSP) Given Consensus Recommendation of “Hold” by Brokerages

Squarespace, Inc. (NYSE:SQSP) has been given a consensus rating of “Hold” by the thirteen analysts that are currently covering the firm, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $43.14.

SQSP has been the subject of a number of research reports. Mizuho cut Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price for the company. in a report on Monday, August 5th. Barclays lifted their target price on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. William Blair reaffirmed a “market perform” rating on shares of Squarespace in a research report on Monday, October 14th. Finally, UBS Group lifted their price objective on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a report on Tuesday, September 10th.

Insider Buying and Selling at Squarespace

In related news, Director Andrew Braccia sold 13,929,575 shares of Squarespace stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $46.50, for a total transaction of $647,725,237.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Andrew Braccia sold 13,929,575 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $46.50, for a total value of $647,725,237.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Anthony Casalena sold 92,511 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.51, for a total value 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,468,293 shares of company stock worth $672,517,295 over the last quarter. 44.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its holdings in Squarespace by 5.0% in the 1st quarter. Russell Investments Group Ltd. now owns 253,812 shares of the company’s stock valued at $9,263,000 after buying an additional 12,180 shares in the last quarter. Vanguard Group Inc. increased its position in 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 acquiring an additional 354,057 shares during the period. Acadian Asset Management LLC raised its stake in Squarespace by 24.0% in 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 in the last quarter. Glazer Capital LLC bought a new stake in Squarespace in the 2nd quarter valued at about $96,206,000. Finally, Alpine Associates Management Inc. acquired a new position in shares of Squarespace during the 2nd quarter worth approximately $14,428,000. Institutional investors and hedge funds own 92.30% of the company’s stock.

Squarespace Stock Performance

Shares of SQSP opened at $46.57 on Friday. The stock has a 50 day simple moving average of $46.22 and a 200 day simple moving average of $43.67. Squarespace has a 52-week low of $26.70 and a 52-week high of $46.69. The firm has a market capitalization of $6.40 billion, a PE ratio of -931.40, a P/E/G ratio of 8.33 and a beta of 0.62.

Squarespace (NYSE:SQSP) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). The firm had revenue of $296.80 million for the quarter, compared to the consensus estimate of $293.12 million. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 EPS. Equities research analysts predict that Squarespace will post 0.28 EPS 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 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.