DekaBank Deutsche Girozentrale Sells 1,677 Shares of Squarespace, Inc. (NYSE:SQSP)

DekaBank Deutsche Girozentrale reduced its position in shares of Squarespace, Inc. (NYSE:SQSP) by 17.1% in the 4th quarter, HoldingsChannel reports. The firm owned 8,124 shares of the company’s stock after selling 1,677 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Squarespace were worth $267,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in Squarespace during the 2nd quarter valued at about $25,000. Sunbelt Securities Inc. bought a new position in Squarespace during the 1st quarter valued at about $26,000. Neo Ivy Capital Management bought a new position in Squarespace during the 2nd quarter valued at about $31,000. Comerica Bank bought a new position in shares of Squarespace in the third quarter worth about $31,000. Finally, Captrust Financial Advisors raised its stake in shares of Squarespace by 2,128.1% in the first quarter. Captrust Financial Advisors now owns 1,270 shares of the company’s stock worth $33,000 after acquiring an additional 1,213 shares during the last quarter. 92.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SQSP shares. Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 target price on shares of Squarespace in a research note on Thursday, February 29th. Raymond James started coverage on shares of Squarespace in a research note on Wednesday, March 27th. They issued an “outperform” rating and a $40.00 target price for the company. Mizuho boosted their target price on shares of Squarespace from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Barclays boosted their target price on shares of Squarespace from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Finally, JMP Securities boosted their target price on shares of Squarespace from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Squarespace currently has an average rating of “Moderate Buy” and an average price target of $38.54.

Squarespace Price Performance

Shares of NYSE:SQSP opened at $35.29 on Wednesday. Squarespace, Inc. has a one year low of $25.59 and a one year high of $37.89. The company has a 50 day moving average of $33.94 and a 200-day moving average of $31.40. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of -705.70, a P/E/G ratio of 3.61 and a beta of 0.51.

Squarespace (NYSE:SQSP) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.12). The firm had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. During the same period last year, the company posted ($0.07) EPS. Squarespace’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities research analysts anticipate that Squarespace, Inc. will post 0.5 earnings per share for the current year.

Insider Transactions at Squarespace

In related news, CEO Anthony Casalena sold 66,420 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $32.36, for a total transaction of $2,149,351.20. Following the completion of the transaction, the chief executive officer now owns 3,521,896 shares in the company, valued at $113,968,554.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Anthony Casalena sold 66,420 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $32.36, for a total transaction of $2,149,351.20. Following the completion of the transaction, the chief executive officer now owns 3,521,896 shares in the company, valued at $113,968,554.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Nathan Gooden sold 5,129 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $31.85, for a total transaction of $163,358.65. Following the transaction, the chief financial officer now owns 66,503 shares of the company’s stock, valued at approximately $2,118,120.55. The disclosure for this sale can be found here. Insiders sold a total of 353,143 shares of company stock worth $11,870,412 in the last quarter. 47.14% of the stock is owned by company insiders.

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.