Russell Investments Group Ltd. Increases Stake in Squarespace, Inc. (NYSE:SQSP)

Russell Investments Group Ltd. lifted its position in shares of Squarespace, Inc. (NYSE:SQSP) by 1.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 241,632 shares of the company’s stock after acquiring an additional 2,346 shares during the period. Russell Investments Group Ltd.’s holdings in Squarespace were worth $7,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. increased its holdings in Squarespace by 195.2% in the third quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company’s stock valued at $72,000 after buying an additional 1,638 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Squarespace by 3,201.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,301 shares of the company’s stock valued at $100,000 after purchasing an additional 3,201 shares in the last quarter. Amalgamated Bank raised its holdings in Squarespace by 12.4% in the 3rd quarter. Amalgamated Bank now owns 5,106 shares of the company’s stock worth $148,000 after purchasing an additional 565 shares during the period. Handelsbanken Fonder AB purchased a new position in Squarespace during the fourth quarter worth approximately $244,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Squarespace in the third quarter valued at approximately $250,000. 92.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Squarespace

In other Squarespace news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction on Friday, April 12th. The stock was sold at an average price of $36.81, for a total value of $92,025.00. Following the sale, the insider now owns 43,686 shares in the company, valued at $1,608,081.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $36.81, for a total transaction of $92,025.00. Following the completion of the transaction, the insider now owns 43,686 shares of the company’s stock, valued at $1,608,081.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan D. Klein sold 47,247 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $37.65, for a total transaction of $1,778,849.55. Following the completion of the sale, the director now directly owns 604,133 shares in the company, valued at $22,745,607.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 342,106 shares of company stock worth $11,865,704. Insiders own 47.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SQSP. Mizuho boosted their price target on shares of Squarespace from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. JMP Securities restated a “market outperform” rating and set a $45.00 price target on shares of Squarespace in a research report on Tuesday, April 30th. Robert W. Baird upgraded Squarespace from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $30.00 to $39.00 in a report on Monday, March 4th. Raymond James assumed coverage on Squarespace in a report on Wednesday, March 27th. They set an “outperform” rating and a $40.00 target price for the company. Finally, Citigroup lifted their price target on Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Squarespace has a consensus rating of “Moderate Buy” and a consensus price target of $38.54.

Squarespace Stock Up 4.1 %

Shares of SQSP opened at $36.88 on Wednesday. The stock has a fifty day simple moving average of $34.79 and a two-hundred day simple moving average of $31.94. The company has a market capitalization of $5.04 billion, a PE ratio of -737.60, a price-to-earnings-growth ratio of 3.48 and a beta of 0.52. Squarespace, Inc. has a 52-week low of $26.70 and a 52-week high of $37.91.

Squarespace (NYSE:SQSP) last issued its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The business had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. Squarespace’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, equities analysts anticipate that Squarespace, Inc. will post 0.5 earnings per share for the current fiscal year.

About Squarespace

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.