Bank of New York Mellon Corp Buys 57,177 Shares of Squarespace, Inc. (NYSE:SQSP)

Bank of New York Mellon Corp raised its stake in shares of Squarespace, Inc. (NYSE:SQSP) by 10.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 623,666 shares of the company’s stock after purchasing an additional 57,177 shares during the quarter. Bank of New York Mellon Corp’s holdings in Squarespace were worth $27,211,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SQSP. CWM LLC increased its position in shares of Squarespace by 185.6% during the 2nd quarter. CWM LLC now owns 2,016 shares of the company’s stock valued at $88,000 after purchasing an additional 1,310 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Squarespace by 8.4% in the first quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock worth $206,000 after buying an additional 437 shares during the period. Diversified Trust Co lifted its position in shares of Squarespace by 13.1% during the 1st quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock valued at $348,000 after buying an additional 1,111 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Squarespace by 21.2% during the 1st quarter. ProShare Advisors LLC now owns 10,749 shares of the company’s stock valued at $392,000 after acquiring an additional 1,880 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Squarespace by 3.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,522 shares of the company’s stock worth $415,000 after acquiring an additional 352 shares in the last quarter. Institutional investors own 92.30% of the company’s stock.

Insiders Place Their Bets

In other Squarespace news, CEO Anthony Casalena sold 68,659 shares of Squarespace stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,698,304 shares of the company’s stock, valued at approximately $75,031,070.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $44.12, for a total transaction of $110,300.00. Following the transaction, the insider now owns 37,486 shares of the company’s stock, valued at approximately $1,653,882.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Anthony Casalena sold 68,659 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were 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 approximately $75,031,070.72. The disclosure for this sale can be found here. Insiders have sold a total of 196,053 shares of company stock valued at $8,595,861 in the last quarter. 44.96% of the stock is currently owned by insiders.

Squarespace Trading Down 0.3 %

Shares of SQSP opened at $45.26 on Thursday. The business’s 50 day moving average is $44.28 and its 200 day moving average is $40.11. The company has a market capitalization of $6.27 billion, a PE ratio of -905.20, a price-to-earnings-growth ratio of 5.18 and a beta of 0.62. Squarespace, Inc. has a 12-month low of $26.70 and a 12-month high of $45.50.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Raymond James reaffirmed a “market perform” rating on shares of Squarespace in a report on Monday, May 13th. Royal Bank of Canada upped their target price on shares of Squarespace from $35.00 to $38.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. Piper Sandler lowered Squarespace from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 13th. UBS Group restated a “neutral” rating and issued a $44.00 price objective (up from $43.00) on shares of Squarespace in a research report on Tuesday, May 14th. Finally, Baird R W cut Squarespace from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 13th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.64.

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 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.