Squarespace’s (SQSP) Market Perform Rating Reiterated at William Blair

William Blair reaffirmed their market perform rating on shares of Squarespace (NYSE:SQSP) in a research report released on Monday morning, Benzinga reports.

Other research analysts also recently issued research reports about the stock. UBS Group upped their price target on shares of Squarespace from $44.00 to $46.50 and gave the stock a neutral rating in a research report 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 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. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $43.14.

Squarespace Stock Performance

Shares of Squarespace stock opened at $46.53 on Monday. The firm has a 50-day simple moving average of $45.66 and a two-hundred day simple moving average of $42.74. The company has a market cap of $6.40 billion, a P/E ratio of -930.60, a price-to-earnings-growth ratio of 8.32 and a beta of 0.62. Squarespace has a fifty-two week low of $26.70 and a fifty-two week high of $46.54.

Squarespace (NYSE:SQSP) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $293.12 million. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. Equities research analysts forecast that Squarespace will post 0.28 EPS for the current year.

Insider Activity at Squarespace

In other news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were 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 owns 37,486 shares of the company’s stock, valued at $1,653,882.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were 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 owns 37,486 shares of the company’s stock, valued at $1,653,882.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Anthony Casalena sold 68,659 shares of the 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 directly owns 1,698,304 shares of the company’s stock, valued at approximately $75,031,070.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 446,207 shares of company stock valued at $20,489,371. Corporate insiders own 44.96% of the company’s stock.

Institutional Trading of Squarespace

Several hedge funds have recently made changes to their positions in SQSP. Glazer Capital LLC purchased a new position in shares of Squarespace during the 2nd quarter worth approximately $96,206,000. Wellington Management Group LLP boosted its position in shares of Squarespace by 18.1% during the 4th 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 during the period. Kodai Capital Management LP purchased a new position in shares of Squarespace during the 1st quarter worth approximately $36,938,000. Water Island Capital LLC purchased a new position in shares of Squarespace during the 2nd quarter worth approximately $37,107,000. Finally, Vanguard Group Inc. boosted its position in shares of Squarespace by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company’s stock worth $209,449,000 after purchasing an additional 479,712 shares during the period. 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.