Envestnet Asset Management Inc. Reduces Position in Squarespace, Inc. (NYSE:SQSP)

Envestnet Asset Management Inc. lessened its holdings in shares of Squarespace, Inc. (NYSE:SQSPGet Rating) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,538 shares of the company’s stock after selling 816 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Squarespace worth $1,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of SQSP. Vanguard Group Inc. lifted its stake in shares of Squarespace by 56.3% during the 1st quarter. Vanguard Group Inc. now owns 3,645,279 shares of the company’s stock valued at $93,392,000 after buying an additional 1,313,755 shares in the last quarter. Riverbridge Partners LLC lifted its stake in shares of Squarespace by 8.7% during the 2nd quarter. Riverbridge Partners LLC now owns 2,527,330 shares of the company’s stock valued at $52,872,000 after buying an additional 202,516 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Squarespace during the 1st quarter valued at $27,254,000. HighTower Advisors LLC lifted its stake in shares of Squarespace by 1.3% during the 1st quarter. HighTower Advisors LLC now owns 625,199 shares of the company’s stock valued at $16,024,000 after buying an additional 8,063 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Squarespace by 953.4% during the 1st quarter. Bank of New York Mellon Corp now owns 441,633 shares of the company’s stock valued at $11,314,000 after buying an additional 399,710 shares in the last quarter. Hedge funds and other institutional investors own 41.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SQSP. Credit Suisse Group lowered their target price on shares of Squarespace from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 9th. Oppenheimer started coverage on shares of Squarespace in a report on Tuesday, July 26th. They issued a “market perform” rating on the stock. KeyCorp reduced their price target on shares of Squarespace from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, November 9th. Truist Financial reduced their price target on shares of Squarespace to $31.00 in a report on Tuesday, July 26th. Finally, Piper Sandler lifted their price target on shares of Squarespace from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, November 9th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Squarespace currently has an average rating of “Hold” and a consensus price target of $26.08.

Squarespace Stock Performance

Squarespace stock opened at $20.13 on Friday. Squarespace, Inc. has a twelve month low of $14.43 and a twelve month high of $40.78. The company’s 50-day moving average price is $21.54 and its 200-day moving average price is $21.27.

Insider Buying and Selling

In related news, major shareholder Ventures Growth I. Parall Index sold 40,609 shares of Squarespace stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $22.54, for a total transaction of $915,326.86. Following the completion of the transaction, the insider now directly owns 411,759 shares of the company’s stock, valued at approximately $9,281,047.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Ventures Growth I. Parall Index sold 40,609 shares of Squarespace stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $22.54, for a total transaction of $915,326.86. Following the completion of the transaction, the insider now directly owns 411,759 shares of the company’s stock, valued at approximately $9,281,047.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Ventures Growth I. Parall Index sold 63,029 shares of Squarespace stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $21.98, for a total transaction of $1,385,377.42. Following the transaction, the insider now directly owns 452,368 shares of the company’s stock, valued at $9,943,048.64. The disclosure for this sale can be found here. 45.51% of the stock is owned by corporate insiders.

About Squarespace

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Squarespace, Inc operates platform for businesses and independent creators to build online presence, grow their brands, and manage their businesses across the internet. Its suite of integrated products enables users to manage their projects and businesses through websites, domains, e-commerce, marketing tools, and scheduling, as well as tools for managing a social media presence.

See Also

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Institutional Ownership by Quarter for Squarespace (NYSE:SQSP)

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