Squarespace’s (SQSP) “Market Perform” Rating Reiterated at William Blair

William Blair reissued their market perform rating on shares of Squarespace (NYSE:SQSP) in a report issued on Monday, MarketBeat Ratings reports.

Several other analysts also recently issued reports on the company. Mizuho downgraded Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a research note on Monday, August 5th. Barclays boosted their target price on shares of Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Finally, UBS Group increased their price target on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Squarespace has an average rating of “Hold” and an average price target of $43.14.

Squarespace Price Performance

Shares of NYSE SQSP opened at $46.57 on Monday. Squarespace has a one year low of $26.70 and a one year high of $46.69. The business’s 50-day moving average price is $45.76 and its two-hundred day moving average price is $42.84. The company has a market capitalization of $6.40 billion, a P/E ratio of -931.40, a price-to-earnings-growth ratio of 8.32 and a beta of 0.62.

Squarespace (NYSE:SQSP) last posted its earnings results on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $296.80 million for the quarter, compared to analysts’ expectations of $293.12 million. During the same period in the previous year, the business earned $0.03 EPS. The firm’s revenue was up 19.9% on a year-over-year basis. On average, equities analysts anticipate that Squarespace will post 0.28 EPS for the current year.

Insider Buying and Selling

In other Squarespace news, CEO Anthony Casalena sold 92,511 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.51, for a total transaction of $4,302,686.61. Following the completion of the transaction, the chief executive officer now directly owns 880,909 shares in the company, valued at $40,971,077.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Anthony Casalena sold 92,511 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.51, for a total value of $4,302,686.61. Following the sale, the chief executive officer now owns 880,909 shares in the company, valued at approximately $40,971,077.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Gubbay sold 2,500 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $44.12, for a total transaction of $110,300.00. Following the sale, the insider now owns 37,486 shares of the company’s stock, valued at $1,653,882.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 538,718 shares of company stock worth $24,792,057 in the last 90 days. 44.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC raised its position in Squarespace by 3.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,522 shares of the company’s stock valued at $415,000 after purchasing an additional 352 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Squarespace by 8.4% in the first quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock valued at $206,000 after buying an additional 437 shares during the last quarter. Ellsworth Advisors LLC lifted its position in Squarespace by 3.6% during the 3rd quarter. Ellsworth Advisors LLC now owns 14,883 shares of the company’s stock worth $691,000 after buying an additional 513 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Squarespace by 3.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 17,200 shares of the company’s stock worth $799,000 after acquiring an additional 600 shares during the last quarter. Finally, Diversified Trust Co increased its position in Squarespace by 13.1% in the 1st quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock valued at $348,000 after acquiring an additional 1,111 shares in the last quarter. 92.30% of the stock is owned by institutional investors and hedge funds.

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.