Brokerages Set Squarespace, Inc. (NYSE:SQSP) Price Target at $42.08

Shares of Squarespace, Inc. (NYSE:SQSP) have been given an average recommendation of “Hold” by the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $42.25.

A number of brokerages have recently commented on SQSP. Piper Sandler cut shares of Squarespace from a “strong-buy” rating to a “hold” rating in a report on Monday, May 13th. B. Riley downgraded Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Tuesday, June 11th. Royal Bank of Canada lifted their price objective on Squarespace from $35.00 to $38.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 8th. Robert W. Baird reissued a “neutral” rating and issued a $44.00 target price (down from $45.00) on shares of Squarespace in a research note on Monday, May 13th. Finally, Baird R W lowered Squarespace from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 13th.

Insider Activity at Squarespace

In other news, CEO Anthony Casalena sold 66,983 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $36.87, for a total value of $2,469,663.21. Following the transaction, the chief executive officer now directly owns 2,706,335 shares in the company, valued at approximately $99,782,571.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $43.21, for a total transaction of $108,025.00. Following the completion of the sale, the insider now directly owns 41,186 shares of the company’s stock, valued at $1,779,647.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anthony Casalena sold 66,983 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $36.87, for a total transaction of $2,469,663.21. Following the completion of the transaction, the chief executive officer now owns 2,706,335 shares in the company, valued at $99,782,571.45. The disclosure for this sale can be found here. Insiders have sold a total of 455,862 shares of company stock worth $19,387,341 over the last quarter. Company insiders own 44.96% of the company’s stock.

Institutional Investors Weigh In On Squarespace

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC lifted its position in Squarespace by 185.6% during the second quarter. CWM LLC now owns 2,016 shares of the company’s stock valued at $88,000 after purchasing an additional 1,310 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Squarespace by 3,201.0% during the 4th quarter. International Assets Investment Management LLC now owns 3,301 shares of the company’s stock valued at $100,000 after buying an additional 3,201 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Squarespace by 8.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock valued at $206,000 after acquiring an additional 437 shares during the period. Handelsbanken Fonder AB bought a new position in shares of Squarespace during the 4th quarter valued at approximately $244,000. Finally, Nisa Investment Advisors LLC increased its holdings in Squarespace by 3.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,522 shares of the company’s stock worth $415,000 after acquiring an additional 352 shares in the last quarter. 92.30% of the stock is currently owned by hedge funds and other institutional investors.

Squarespace Price Performance

SQSP stock opened at $44.16 on Friday. Squarespace has a 1 year low of $26.70 and a 1 year high of $44.29. The firm has a 50-day moving average of $43.74 and a 200 day moving average of $37.83. The company has a market cap of $6.07 billion, a P/E ratio of -883.20, a PEG ratio of 5.04 and a beta of 0.62.

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.