Allspring Global Investments Holdings LLC Purchases 8,049 Shares of Squarespace, Inc. (NYSE:SQSP)

Allspring Global Investments Holdings LLC boosted its position in shares of Squarespace, Inc. (NYSE:SQSP) by 71.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,393 shares of the company’s stock after buying an additional 8,049 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Squarespace were worth $640,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SQSP. Amalgamated Bank raised its stake in shares of Squarespace by 12.4% during the third quarter. Amalgamated Bank now owns 5,106 shares of the company’s stock valued at $148,000 after acquiring an additional 565 shares during the last quarter. Arizona State Retirement System raised its position in Squarespace by 12.7% during the 3rd quarter. Arizona State Retirement System now owns 12,428 shares of the company’s stock valued at $360,000 after purchasing an additional 1,396 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in Squarespace by 195.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company’s stock worth $72,000 after buying an additional 1,638 shares during the period. Quantbot Technologies LP grew its position in shares of Squarespace by 3.5% in the 3rd quarter. Quantbot Technologies LP now owns 50,270 shares of the company’s stock worth $1,456,000 after buying an additional 1,710 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Squarespace by 1.2% during the third quarter. HighTower Advisors LLC now owns 164,517 shares of the company’s stock valued at $4,765,000 after buying an additional 1,927 shares during the period. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Insider Activity

In related news, CEO Anthony Casalena sold 45,389 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $35.57, for a total transaction of $1,614,486.73. Following the completion of the sale, the chief executive officer now owns 2,877,107 shares in the company, valued at $102,338,695.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Jonathan D. Klein sold 700 shares of Squarespace stock in a transaction on Monday, April 8th. The shares were sold at an average price of $37.50, for a total transaction of $26,250.00. Following the transaction, the director now owns 651,380 shares in the company, valued at approximately $24,426,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony Casalena sold 45,389 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $35.57, for a total transaction of $1,614,486.73. Following the sale, the chief executive officer now directly owns 2,877,107 shares of the company’s stock, valued at approximately $102,338,695.99. The disclosure for this sale can be found here. Insiders have sold 401,032 shares of company stock valued at $13,576,924 in the last ninety days. 47.14% of the stock is currently owned by company insiders.

Squarespace Stock Performance

NYSE SQSP opened at $35.69 on Thursday. Squarespace, Inc. has a one year low of $25.59 and a one year high of $37.89. The stock has a 50-day moving average of $34.30 and a 200 day moving average of $31.64. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -713.80, a PEG ratio of 3.49 and a beta of 0.51.

Squarespace (NYSE:SQSP) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share 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 analysts’ expectations of $263.41 million. During the same period last year, the firm earned ($0.07) earnings per share. The firm’s revenue was up 18.3% compared to the same quarter last year. On average, equities analysts predict that Squarespace, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SQSP. JMP Securities boosted their price objective on shares of Squarespace from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Piper Sandler restated an “overweight” rating and set a $40.00 price target on shares of Squarespace in a research report on Thursday, February 29th. Citigroup increased their price objective on Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Mizuho boosted their target price on shares of Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Finally, Robert W. Baird upgraded shares of Squarespace from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $30.00 to $39.00 in a research note on Monday, March 4th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.54.

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.