Squarespace (NYSE:SQSP) Sees Large Volume Increase

Squarespace, Inc. (NYSE:SQSP) shares saw unusually-strong trading volume on Wednesday . Approximately 478,701 shares traded hands during mid-day trading, a decline of 52% from the previous session’s volume of 989,812 shares.The stock last traded at $46.38 and had previously closed at $46.40.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SQSP shares. UBS Group increased their target price on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Mizuho downgraded shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a research report on Monday, August 5th. B. Riley cut Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Tuesday, June 11th. Finally, Barclays boosted their target price on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.14.

Squarespace Stock Down 0.1 %

The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of -928.00, a P/E/G ratio of 8.29 and a beta of 0.62. The stock’s fifty day moving average price is $44.71 and its 200-day moving average price is $41.02.

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 business had revenue of $296.80 million for the quarter, compared to analysts’ expectations of $293.12 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. Analysts anticipate that Squarespace, Inc. will post 0.28 EPS for the current year.

Insider Transactions at Squarespace

In related news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $46.29, for a total value of $115,725.00. Following the completion of the transaction, the insider now owns 46,269 shares in the company, valued at approximately $2,141,792.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Anthony Casalena sold 38,466 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $45.26, for a total transaction of $1,740,971.16. Following the completion of the sale, the chief executive officer now directly owns 1,527,820 shares of the company’s stock, valued at $69,149,133.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $46.29, for a total transaction of $115,725.00. Following the completion of the sale, the insider now owns 46,269 shares of the company’s stock, valued at approximately $2,141,792.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 234,519 shares of company stock valued at $10,343,007. Corporate insiders own 44.96% of the company’s stock.

Institutional Trading of Squarespace

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of Squarespace by 18.1% in the fourth quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock worth $273,457,000 after purchasing an additional 1,268,698 shares in the last quarter. Vanguard Group Inc. lifted 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 valued at $244,114,000 after purchasing an additional 354,057 shares during the last quarter. Glazer Capital LLC purchased a new position in shares of Squarespace in the 2nd quarter worth about $96,206,000. Renaissance Technologies LLC grew its stake in shares of Squarespace by 19.8% during the second quarter. Renaissance Technologies LLC now owns 1,769,994 shares of the company’s stock valued at $77,225,000 after buying an additional 292,600 shares during the last quarter. Finally, Acadian Asset Management LLC raised 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 valued at $59,643,000 after buying an additional 317,416 shares during the last quarter. Hedge funds and other institutional investors 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.