Handelsbanken Fonder AB Acquires Shares of 7,400 Squarespace, Inc. (NYSE:SQSP)

Handelsbanken Fonder AB bought a new stake in Squarespace, Inc. (NYSE:SQSP) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,400 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sunbelt Securities Inc. boosted its position 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 acquiring an additional 3,201 shares in the last quarter. Amalgamated Bank boosted its position in shares of Squarespace by 12.4% during the 3rd quarter. Amalgamated Bank now owns 5,106 shares of the company’s stock worth $148,000 after purchasing an additional 565 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Squarespace during the third quarter valued at approximately $250,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Squarespace by 28.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the company’s stock worth $263,000 after purchasing an additional 2,001 shares during the period. Institutional investors own 92.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SQSP. Barclays upped their price objective on shares of Squarespace from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. Citigroup boosted their price objective on Squarespace from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Raymond James began coverage on shares of Squarespace in a report on Wednesday, March 27th. They issued an “outperform” rating and a $40.00 price objective for the company. Piper Sandler restated an “overweight” rating and set a $40.00 target price on shares of Squarespace in a research report on Thursday, February 29th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $45.00 price target on shares of Squarespace in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.54.

Squarespace Stock Up 2.6 %

Shares of SQSP stock opened at $35.24 on Friday. The business’s fifty day moving average is $34.69 and its 200 day moving average is $31.84. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of -704.80, a PEG ratio of 3.37 and a beta of 0.52. Squarespace, Inc. has a twelve month low of $25.59 and a twelve month high of $37.89.

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

Insider Buying and Selling at Squarespace

In related news, CEO Anthony Casalena sold 67,230 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $31.83, for a total value of $2,139,930.90. Following the sale, the chief executive officer now owns 3,388,279 shares in the company, valued at approximately $107,848,920.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Anthony Casalena sold 67,230 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $31.83, for a total value of $2,139,930.90. Following the transaction, the chief executive officer now owns 3,388,279 shares in the company, valued at approximately $107,848,920.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan D. Klein sold 47,247 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 604,133 shares of the company’s stock, valued at $22,745,607.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 342,106 shares of company stock valued at $11,865,704. Corporate insiders own 47.14% of the company’s stock.

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.