SG Americas Securities LLC Boosts Position in Squarespace, Inc. (NYSE:SQSP)

SG Americas Securities LLC grew its stake in shares of Squarespace, Inc. (NYSE:SQSP) by 551.5% during the third quarter, HoldingsChannel reports. The firm owned 23,220 shares of the company’s stock after buying an additional 19,656 shares during the period. SG Americas Securities LLC’s holdings in Squarespace were worth $1,078,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SQSP. Hawk Ridge Capital Management LP purchased a new stake in Squarespace during the 4th quarter worth approximately $9,648,000. Teachers Retirement System of The State of Kentucky grew its position in Squarespace by 7.5% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 56,955 shares of the company’s stock valued at $1,880,000 after buying an additional 3,961 shares in the last quarter. Wellington Management Group LLP boosted its holdings 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 valued at $273,457,000 after acquiring an additional 1,268,698 shares in the last quarter. Vanguard Group Inc. boosted its stake in Squarespace by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company’s stock valued at $209,449,000 after purchasing an additional 479,712 shares in the last quarter. Finally, Quadrature Capital Ltd grew its holdings in Squarespace by 20.2% during the fourth quarter. Quadrature Capital Ltd now owns 25,832 shares of the company’s stock worth $853,000 after acquiring an additional 4,350 shares during the period. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Insiders Place Their Bets

In other news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $44.12, for a total value of $110,300.00. Following the completion of the sale, the insider now directly owns 37,486 shares in the company, valued at approximately $1,653,882.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Anthony Casalena sold 68,659 shares of Squarespace stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $44.18, for a total transaction of $3,033,354.62. Following the completion of the sale, the chief executive officer now owns 1,698,304 shares in the company, valued at $75,031,070.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $44.12, for a total transaction of $110,300.00. Following the completion of the transaction, the insider now directly owns 37,486 shares in the company, valued at approximately $1,653,882.32. 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 ninety days, insiders have sold 356,089 shares of company stock valued at $16,154,005. 44.96% of the stock is currently owned by insiders.

Squarespace Stock Performance

Shares of SQSP stock opened at $46.49 on Friday. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of -929.80, a P/E/G ratio of 8.32 and a beta of 0.62. The firm has a fifty day moving average of $45.57 and a 200-day moving average of $42.51. Squarespace, Inc. has a 52-week low of $26.70 and a 52-week high of $46.54.

Squarespace (NYSE:SQSP) last announced 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 business had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $293.12 million. During the same quarter last year, the business earned $0.03 EPS. Squarespace’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, sell-side analysts predict that Squarespace, Inc. will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Barclays lifted 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. UBS Group raised their price objective on Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Finally, Mizuho lowered 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. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.14.

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.