Atlantic (Sqrs) Lp General Sells 6,000,000 Shares of Squarespace, Inc. (NYSE:SQSP) Stock

Squarespace, Inc. (NYSE:SQSP) Director Atlantic (Sqrs) Lp General sold 6,000,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $29.50, for a total transaction of $177,000,000.00. Following the completion of the sale, the director now owns 10,627,824 shares of the company’s stock, valued at $313,520,808. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Atlantic (Sqrs) Lp General also recently made the following trade(s):

• On Friday, September 15th, Atlantic (Sqrs) Lp General sold 5,750,000 shares of Squarespace stock. The shares were sold at an average price of $27.84, for a total transaction of $160,080,000.00.

Squarespace Trading Up 0.7 %

Shares of NYSE SQSP opened at $29.21 on Tuesday. The firm has a 50 day moving average of $29.18 and a 200 day moving average of $30.01. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -16.14, a price-to-earnings-growth ratio of 7.15 and a beta of 0.42. Squarespace, Inc. has a 12-month low of $19.58 and a 12-month high of $34.38.

Squarespace (NYSE:SQSP) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.33). Squarespace had a negative net margin of 25.38% and a negative return on equity of 2.24%. The firm had revenue of $257.10 million for the quarter, compared to analysts’ expectations of $251.91 million. During the same period in the prior year, the firm earned $0.07 EPS. Squarespace’s revenue for the quarter was up 18.1% compared to the same quarter last year. Sell-side analysts predict that Squarespace, Inc. will post 0.1 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on SQSP. DA Davidson initiated coverage on shares of Squarespace in a report on Wednesday, July 26th. They issued a “buy” rating and a $40.00 target price on the stock. The Goldman Sachs Group increased their target price on shares of Squarespace from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Royal Bank of Canada increased their price target on shares of Squarespace from $30.00 to $32.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 9th. Barclays raised their price target on shares of Squarespace from $29.00 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 8th. Finally, Mizuho lifted their price target on shares of Squarespace from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.62.

Hedge Funds Weigh In On Squarespace

Several large investors have recently added to or reduced their stakes in SQSP. Acadian Asset Management LLC lifted its holdings in shares of Squarespace by 266.0% in the second quarter. Acadian Asset Management LLC now owns 1,160,423 shares of the company’s stock worth $36,582,000 after buying an additional 843,404 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Squarespace by 46.9% in the second quarter. Rhumbline Advisers now owns 71,287 shares of the company’s stock worth $2,248,000 after buying an additional 22,768 shares in the last quarter. AlpInvest Partners B.V. lifted its holdings in shares of Squarespace by 114.7% in the first quarter. AlpInvest Partners B.V. now owns 745,360 shares of the company’s stock worth $23,680,000 after buying an additional 398,237 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Squarespace in the first quarter worth $853,000. Finally, FORA Capital LLC purchased a new position in shares of Squarespace in the first quarter worth $625,000. Hedge funds and other institutional investors own 43.73% 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. Its suite of integrated products 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.