Envestnet Asset Management Inc. Has $2.01 Million Position in Squarespace, Inc. (NYSE:SQSP)

Envestnet Asset Management Inc. cut its stake in shares of Squarespace, Inc. (NYSE:SQSP – Get Rating) by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,825 shares of the company’s stock after selling 8,601 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Squarespace worth $2,014,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Squarespace by 56.3% in the 1st quarter. Vanguard Group Inc. now owns 3,645,279 shares of the company’s stock valued at $93,392,000 after purchasing an additional 1,313,755 shares during the period. First Trust Advisors LP acquired a new position in shares of Squarespace in the 3rd quarter valued at about $23,478,000. State Street Corp lifted its stake in shares of Squarespace by 390.4% in the 2nd quarter. State Street Corp now owns 579,029 shares of the company’s stock valued at $12,113,000 after purchasing an additional 460,967 shares during the period. Bank of New York Mellon Corp increased its position in Squarespace by 953.4% in 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. Finally, Noked Israel Ltd increased its position in Squarespace by 155.1% in the 3rd quarter. Noked Israel Ltd now owns 518,830 shares of the company’s stock valued at $11,082,000 after buying an additional 315,450 shares in the last quarter. 40.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Squarespace

In other news, General Counsel Courtenay O’connor sold 21,801 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $23.14, for a total value of $504,475.14. Following the transaction, the general counsel now owns 38,216 shares in the company, valued at approximately $884,318.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Courtenay O’connor sold 21,801 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $23.14, for a total value of $504,475.14. Following the transaction, the general counsel now owns 38,216 shares in the company, valued at $884,318.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan D. Klein sold 53,758 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $27.28, for a total value of $1,466,518.24. Following the completion of the transaction, the director now owns 691,682 shares in the company, valued at approximately $18,869,084.96. The disclosure for this sale can be found here. Insiders have sold 104,005 shares of company stock worth $2,739,035 in the last 90 days. Insiders own 45.51% of the company’s stock.

Squarespace Stock Up 0.4 %

Shares of NYSE SQSP opened at $29.60 on Friday. Squarespace, Inc. has a twelve month low of $16.86 and a twelve month high of $33.41. The stock’s 50 day moving average price is $30.06 and its 200-day moving average price is $24.88. The company has a market capitalization of $4.00 billion, a PE ratio of -24.67, a PEG ratio of 11.55 and a beta of 0.32.

Squarespace (NYSE:SQSP – Get Rating) last announced its earnings results on Tuesday, March 7th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.13). Squarespace had a negative return on equity of 36.56% and a negative net margin of 17.73%. The business had revenue of $228.81 million during the quarter, compared to analysts’ expectations of $222.35 million. As a group, research analysts expect that Squarespace, Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays boosted their target price on Squarespace from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 10th. Robert W. Baird assumed coverage on Squarespace in a research report on Tuesday, April 11th. They issued a “neutral” rating and a $34.00 target price for the company. Piper Sandler boosted their target price on Squarespace from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, March 8th. Royal Bank of Canada boosted their target price on Squarespace from $26.00 to $30.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 10th. Finally, Mizuho boosted their target price on Squarespace from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, May 10th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.33.

Squarespace Profile

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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.