Squarespace, Inc. (NYSE:SQSP) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its position in Squarespace, Inc. (NYSE:SQSP) by 79.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 380,139 shares of the company’s stock after selling 1,452,012 shares during the period. Millennium Management LLC owned about 0.28% of Squarespace worth $16,585,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Squarespace in the 2nd quarter valued at about $71,000. Squarepoint Ops LLC acquired a new stake in Squarespace in the second quarter valued at approximately $245,000. K2 Principal Fund L.P. purchased a new stake in shares of Squarespace in the second quarter valued at approximately $253,000. Glazer Capital LLC acquired a new position in shares of Squarespace during the 2nd quarter worth approximately $96,206,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Squarespace during the 2nd quarter worth approximately $828,000. 92.30% of the stock is owned by hedge funds and other institutional investors.

Squarespace Price Performance

SQSP stock opened at $46.49 on Friday. Squarespace, Inc. has a 1 year low of $26.70 and a 1 year high of $46.54. The firm has a market capitalization of $6.44 billion, a PE ratio of -929.80, a price-to-earnings-growth ratio of 8.31 and a beta of 0.62. The business has a 50 day simple moving average of $45.38 and a 200-day simple moving average of $42.18.

Squarespace (NYSE:SQSP) last issued its earnings results on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $296.80 million during the quarter, compared to the consensus estimate of $293.12 million. During the same period in the prior year, the firm posted $0.03 EPS. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. On average, equities research analysts expect that Squarespace, Inc. will post 0.28 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on SQSP shares. B. Riley lowered shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Tuesday, June 11th. UBS Group boosted their target price on shares of Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Barclays upped their price target on shares of Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Finally, Mizuho lowered Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research note on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $43.14.

Insider Activity at Squarespace

In other Squarespace news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $43.72, for a total transaction of $109,300.00. Following the transaction, the insider now directly owns 39,986 shares of the company’s stock, valued at $1,748,187.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Anthony Casalena sold 68,659 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $44.18, for a total value of $3,033,354.62. Following the transaction, the chief executive officer now owns 1,698,304 shares of the company’s stock, valued at $75,031,070.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $43.72, for a total value of $109,300.00. Following the sale, the insider now directly owns 39,986 shares of the company’s stock, valued at $1,748,187.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 358,589 shares of company stock valued at $16,263,305. 44.96% of the stock is owned by company insiders.

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.