Squarespace, Inc. (NYSE:SQSP) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. cut its stake in shares of Squarespace, Inc. (NYSE:SQSP) by 71.9% during the second quarter, HoldingsChannel.com reports. The firm owned 671 shares of the company’s stock after selling 1,716 shares during the period. Sunbelt Securities Inc.’s holdings in Squarespace were worth $29,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brooklyn FI LLC acquired a new position in Squarespace during the first quarter worth about $679,000. Russell Investments Group Ltd. grew its holdings in shares of Squarespace by 5.0% in the 1st quarter. Russell Investments Group Ltd. now owns 253,812 shares of the company’s stock worth $9,263,000 after acquiring an additional 12,180 shares during the period. Vanguard Group Inc. increased its stake in Squarespace by 5.6% in the 1st 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 in the last quarter. Hawk Ridge Capital Management LP acquired a new position in Squarespace during the fourth quarter worth $9,648,000. Finally, Acadian Asset Management LLC raised its holdings in Squarespace by 24.0% during the first quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock worth $59,643,000 after purchasing an additional 317,416 shares during the last quarter. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Insider Buying and Selling at Squarespace

In related news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $43.72, for a total value of $109,300.00. Following the sale, the insider now directly owns 39,986 shares of the company’s stock, valued at approximately $1,748,187.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $43.72, for a total value of $109,300.00. Following the transaction, the insider now directly owns 39,986 shares of the company’s stock, valued at approximately $1,748,187.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony Casalena sold 59,882 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.78, for a total value of $2,621,633.96. Following the sale, the chief executive officer now directly owns 1,975,618 shares of the company’s stock, valued at approximately $86,492,556.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 358,589 shares of company stock worth $16,263,305 in the last 90 days. 44.96% of the stock is owned by company insiders.

Squarespace Stock Performance

SQSP stock opened at $46.49 on Friday. The company has a 50 day moving average price of $45.33 and a two-hundred day moving average price of $42.10. The stock has a market capitalization of $6.39 billion, a P/E ratio of -929.80, a PEG ratio of 8.30 and a beta of 0.62. Squarespace, Inc. has a one year low of $26.70 and a one year high of $46.54.

Squarespace (NYSE:SQSP) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The firm had revenue of $296.80 million during the quarter, compared to analyst estimates of $293.12 million. During the same period 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. Research analysts forecast that Squarespace, Inc. will post 0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Mizuho cut 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 downgraded shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a report on Tuesday, June 11th. Barclays upped their price target on shares of Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. Finally, UBS Group raised their price objective on shares of Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Squarespace currently has an average rating of “Hold” and an average 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.