Vanguard Group Inc. Has $169.92 Million Position in Squarespace, Inc. (NYSE:SQSP)

Vanguard Group Inc. grew its position in Squarespace, Inc. (NYSE:SQSP - Free Report) by 20.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,865,295 shares of the company's stock after acquiring an additional 994,880 shares during the quarter. Vanguard Group Inc. owned about 4.31% of Squarespace worth $169,918,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SQSP. Quarry LP acquired a new stake in Squarespace during the 2nd quarter worth $25,000. Sunbelt Securities Inc. acquired a new stake in shares of Squarespace during the first quarter worth about $26,000. Point72 Middle East FZE purchased a new position in shares of Squarespace during the fourth quarter worth about $30,000. Neo Ivy Capital Management purchased a new position in shares of Squarespace during the second quarter worth about $31,000. Finally, Comerica Bank purchased a new stake in Squarespace during the 3rd quarter valued at approximately $31,000. 92.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Squarespace news, CFO Nathan Gooden sold 5,129 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $31.85, for a total transaction of $163,358.65. Following the completion of the transaction, the chief financial officer now owns 66,503 shares of the company's stock, valued at $2,118,120.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Anthony Casalena sold 40,835 shares of the firm's stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $31.70, for a total transaction of $1,294,469.50. Following the sale, the chief executive officer now owns 3,728,139 shares in the company, valued at $118,182,006.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nathan Gooden sold 5,129 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $31.85, for a total value of $163,358.65. Following the completion of the transaction, the chief financial officer now owns 66,503 shares of the company's stock, valued at $2,118,120.55. The disclosure for this sale can be found here. Insiders have sold 371,988 shares of company stock worth $11,947,435 over the last ninety days. 47.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler reiterated an "overweight" rating and issued a $40.00 target price on shares of Squarespace in a research note on Thursday, February 29th. Royal Bank of Canada upped their price objective on shares of Squarespace from $32.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 29th. B. Riley lifted their target price on shares of Squarespace from $41.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, February 29th. Citigroup increased their price target on shares of Squarespace from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, February 29th. Finally, Mizuho raised their price objective on shares of Squarespace from $32.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.54.

Squarespace Stock Performance

SQSP stock traded up $0.14 during midday trading on Monday, hitting $36.58. 434,450 shares of the stock were exchanged, compared to its average volume of 757,046. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of -731.60, a PEG ratio of 3.60 and a beta of 0.51. Squarespace, Inc. has a fifty-two week low of $25.59 and a fifty-two week high of $36.94. The stock's 50-day moving average price is $32.91 and its 200-day moving average price is $30.79.

Squarespace (NYSE:SQSP - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 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 analyst estimates of $263.41 million. During the same quarter in the previous year, the company earned ($0.07) EPS. The firm's quarterly revenue was up 18.3% on a year-over-year basis. Research analysts anticipate that Squarespace, Inc. will post 0.5 EPS for the current year.

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.