Hsbc Holdings PLC Has $279,000 Holdings in Squarespace, Inc. (NYSE:SQSP)

Hsbc Holdings PLC lowered its stake in shares of Squarespace, Inc. (NYSE:SQSP) by 78.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,419 shares of the company’s stock after selling 23,097 shares during the period. Hsbc Holdings PLC’s holdings in Squarespace were worth $279,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in Squarespace by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,769,994 shares of the company’s stock worth $77,225,000 after purchasing an additional 292,600 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Squarespace by 153.3% during the second quarter. Dimensional Fund Advisors LP now owns 64,450 shares of the company’s stock worth $2,812,000 after acquiring an additional 39,004 shares during the last quarter. Alpine Associates Management Inc. acquired a new position in shares of Squarespace during the second quarter valued at $14,428,000. State of New Jersey Common Pension Fund D bought a new position in Squarespace in the second quarter valued at about $1,862,000. Finally, Quest Partners LLC increased its position in Squarespace by 1,828.9% in the second quarter. Quest Partners LLC now owns 2,739 shares of the company’s stock worth $120,000 after purchasing an additional 2,597 shares during the period. 92.30% of the stock is owned by institutional investors.

Squarespace Trading Up 0.1 %

NYSE:SQSP opened at $46.48 on Friday. Squarespace, Inc. has a 12 month low of $26.70 and a 12 month high of $46.49. The firm has a fifty day simple moving average of $45.28 and a two-hundred day simple moving average of $42.07. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of -929.60, a PEG ratio of 8.30 and a beta of 0.62.

Squarespace (NYSE:SQSP) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $293.12 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s revenue was up 19.9% on a year-over-year basis. Equities analysts predict that Squarespace, Inc. will post 0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Squarespace

In related news, CEO Anthony Casalena sold 38,900 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $46.42, for a total value of $1,805,738.00. Following the sale, the chief executive officer now owns 1,229,920 shares in the company, valued at $57,092,886.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Anthony Casalena sold 38,900 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $46.42, for a total transaction of $1,805,738.00. Following the completion of the sale, the chief executive officer now owns 1,229,920 shares of the company’s stock, valued at $57,092,886.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul Gubbay sold 2,500 shares of the stock in a transaction 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 sale, the insider now directly owns 37,486 shares of the company’s stock, valued at approximately $1,653,882.32. The disclosure for this sale can be found here. Insiders have sold a total of 358,589 shares of company stock worth $16,263,305 over the last three months. 44.96% of the stock is currently owned by insiders.

About Squarespace

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.