27,363 Shares in Squarespace, Inc. (NYSE:SQSP) Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. purchased a new position in shares of Squarespace, Inc. (NYSE:SQSP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,363 shares of the company’s stock, valued at approximately $853,000.

Other large investors have also added to or reduced their stakes in the company. Captrust Financial Advisors lifted its stake in Squarespace by 2,128.1% during the first quarter. Captrust Financial Advisors now owns 1,270 shares of the company’s stock worth $33,000 after purchasing an additional 1,213 shares during the last quarter. Point72 Middle East FZE bought a new stake in Squarespace during the fourth quarter worth $30,000. Advisors Asset Management Inc. bought a new stake in Squarespace during the first quarter worth $46,000. Clear Street Markets LLC bought a new stake in Squarespace during the fourth quarter worth $43,000. Finally, Parkside Financial Bank & Trust bought a new stake in Squarespace during the first quarter worth $58,000. Institutional investors and hedge funds own 43.73% of the company’s stock.

Squarespace Stock Performance

Shares of Squarespace stock opened at $30.15 on Friday. The business has a 50-day moving average price of $30.99 and a two-hundred day moving average price of $29.63. Squarespace, Inc. has a 1-year low of $16.86 and a 1-year high of $34.38. The company has a market cap of $4.09 billion, a P/E ratio of -18.61 and a beta of 0.40.

Squarespace (NYSE:SQSP) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.17). Squarespace had a negative return on equity of 2.24% and a negative net margin of 23.60%. The business had revenue of $247.50 million for the quarter, compared to analyst estimates of $243.34 million. During the same quarter in the previous year, the business posted $0.45 earnings per share. The business’s revenue was up 16.4% on a year-over-year basis. Equities research analysts forecast that Squarespace, Inc. will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

SQSP has been the subject of several recent analyst reports. Piper Sandler upped their target price on Squarespace from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 9th. Credit Suisse Group increased their price target on Squarespace from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, August 10th. The Goldman Sachs Group increased their price target on Squarespace from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Royal Bank of Canada increased their price target on Squarespace from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 9th. Finally, B. Riley started coverage on Squarespace in a research note on Wednesday, June 28th. They issued a “buy” rating and a $40.00 price target for the company. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.08.

Insiders Place Their Bets

In other Squarespace news, CEO Anthony Casalena sold 34,517 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $30.13, for a total transaction of $1,039,997.21. Following the completion of the sale, the chief executive officer now directly owns 4,895,658 shares in the company, valued at approximately $147,506,175.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Paul Gubbay sold 10,124 shares of Squarespace stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $30.21, for a total value of $305,846.04. Following the sale, the insider now owns 25,239 shares of the company’s stock, valued at approximately $762,470.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony Casalena sold 34,517 shares of Squarespace stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $30.13, for a total transaction of $1,039,997.21. Following the completion of the sale, the chief executive officer now directly owns 4,895,658 shares in the company, valued at approximately $147,506,175.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 399,065 shares of company stock worth $12,380,577. Company insiders own 47.14% of the company’s stock.

Squarespace Profile

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, scheduling, and hospitality services, as well as tools for managing a social media presence.