Squarespace (NYSE:SQSP) Upgraded by Piper Sandler to “Overweight”

Piper Sandler upgraded shares of Squarespace (NYSE:SQSPGet Rating) from a neutral rating to an overweight rating in a research report report published on Monday, Marketbeat Ratings reports. The firm currently has $30.00 price target on the stock, up from their previous price target of $22.00.

SQSP has been the subject of several other research reports. KeyCorp lowered their target price on shares of Squarespace from $25.00 to $22.00 and set an overweight rating for the company in a report on Wednesday, November 9th. Oppenheimer initiated coverage on shares of Squarespace in a report on Tuesday, July 26th. They issued a market perform rating for the company. Credit Suisse Group lowered their target price on shares of Squarespace from $25.00 to $24.00 and set a neutral rating for the company in a report on Wednesday, November 9th. Finally, Truist Financial decreased their price objective on shares of Squarespace to $31.00 in a report on Tuesday, July 26th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Squarespace has a consensus rating of Hold and an average target price of $26.75.

Squarespace Trading Up 3.5 %

Shares of SQSP stock opened at $20.83 on Monday. The firm has a 50-day moving average of $21.47 and a 200-day moving average of $21.25. Squarespace has a one year low of $14.43 and a one year high of $37.49.

Insider Transactions at Squarespace

In other 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 value of $915,326.86. Following the completion of the transaction, the insider now owns 411,759 shares in the company, valued at $9,281,047.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Ventures Growth I. Parall Index sold 40,609 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $22.54, for a total value of $915,326.86. Following the completion of the transaction, the insider now directly owns 411,759 shares in the company, valued at $9,281,047.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ventures Growth I. Parall Index sold 63,029 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $21.98, for a total transaction of $1,385,377.42. Following the completion of the transaction, the insider now owns 452,368 shares of the company’s stock, valued at $9,943,048.64. The disclosure for this sale can be found here. Corporate insiders own 45.51% of the company’s stock.

Hedge Funds Weigh In On Squarespace

Large investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in shares of Squarespace in the third quarter valued at approximately $26,000. Captrust Financial Advisors lifted its position in Squarespace by 2,128.1% during the first quarter. Captrust Financial Advisors now owns 1,270 shares of the company’s stock valued at $33,000 after purchasing an additional 1,213 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in Squarespace during the first quarter valued at approximately $46,000. Parkside Financial Bank & Trust bought a new stake in Squarespace during the first quarter valued at approximately $58,000. Finally, Ensign Peak Advisors Inc bought a new stake in Squarespace during the third quarter valued at approximately $72,000. 41.20% of the stock is currently owned by institutional investors.

Squarespace Company Profile

(Get Rating)

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.

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Analyst Recommendations for Squarespace (NYSE:SQSP)

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