1,619 Shares in Squarespace, Inc. (NYSE:SQSP) Purchased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Squarespace, Inc. (NYSE:SQSP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,619 shares of the company’s stock, valued at approximately $71,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SQSP. Brooklyn FI LLC bought a new position in shares of Squarespace during the 1st quarter valued at approximately $679,000. Russell Investments Group Ltd. raised its stake in shares of Squarespace by 5.0% in the first quarter. Russell Investments Group Ltd. now owns 253,812 shares of the company’s stock valued at $9,263,000 after acquiring an additional 12,180 shares during the period. UBS Group AG lifted its holdings in shares of Squarespace by 137.9% in the 4th quarter. UBS Group AG now owns 271,617 shares of the company’s stock worth $8,966,000 after acquiring an additional 157,462 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Squarespace by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock worth $244,114,000 after purchasing an additional 354,057 shares during the period. Finally, Hawk Ridge Capital Management LP purchased a new stake in Squarespace in the 4th quarter worth about $9,648,000. 92.30% of the stock is currently owned by hedge funds and other institutional investors.

Squarespace Stock Performance

NYSE:SQSP opened at $46.38 on Monday. The firm has a 50-day simple moving average of $45.13 and a 200-day simple moving average of $41.84. Squarespace, Inc. has a one year low of $26.70 and a one year high of $46.48. The firm has a market cap of $6.38 billion, a P/E ratio of -927.60, a P/E/G ratio of 8.30 and a beta of 0.62.

Squarespace (NYSE:SQSP) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $296.80 million for the quarter, compared to the consensus estimate of $293.12 million. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business earned $0.03 earnings per share. On average, research analysts predict that Squarespace, Inc. will post 0.28 EPS for the current fiscal year.

Insider Transactions at Squarespace

In related news, CEO Anthony Casalena sold 145,182 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $46.33, for a total transaction of $6,726,282.06. Following the sale, the chief executive officer now owns 1,349,263 shares of the company’s stock, valued at $62,511,354.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $43.72, for a total transaction of $109,300.00. Following the completion of the sale, the insider now owns 39,986 shares in the company, valued at approximately $1,748,187.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Anthony Casalena sold 145,182 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $46.33, for a total value of $6,726,282.06. Following the completion of the sale, the chief executive officer now directly owns 1,349,263 shares of the company’s stock, valued at approximately $62,511,354.79. The disclosure for this sale can be found here. In the last three months, insiders sold 319,689 shares of company stock valued at $14,457,567. Corporate insiders own 44.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SQSP shares. UBS Group boosted their target price on Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Mizuho downgraded Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a research report on Monday, August 5th. Barclays lifted their target price on Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Finally, B. Riley cut shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a report on Tuesday, June 11th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Squarespace currently has an average rating of “Hold” and an average price target of $43.14.

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 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.