DekaBank Deutsche Girozentrale Sells 2,123 Shares of Squarespace, Inc. (NYSE:SQSP)

DekaBank Deutsche Girozentrale reduced its stake in Squarespace, Inc. (NYSE:SQSP) by 41.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,001 shares of the company’s stock after selling 2,123 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Squarespace were worth $130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SQSP. Brooklyn FI LLC acquired a new position in shares of Squarespace in the 1st quarter valued at approximately $679,000. Russell Investments Group Ltd. lifted its stake in Squarespace by 5.0% during the first quarter. Russell Investments Group Ltd. now owns 253,812 shares of the company’s stock worth $9,263,000 after purchasing an additional 12,180 shares during the last quarter. UBS Group AG lifted its stake in Squarespace by 137.9% during the fourth quarter. UBS Group AG now owns 271,617 shares of the company’s stock worth $8,966,000 after purchasing an additional 157,462 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Squarespace by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock valued at $244,114,000 after purchasing an additional 354,057 shares in the last quarter. Finally, Hawk Ridge Capital Management LP bought a new position in shares of Squarespace in the 4th quarter valued at $9,648,000. Institutional investors own 92.30% of the company’s stock.

Squarespace Stock Down 0.0 %

Shares of NYSE SQSP opened at $46.40 on Friday. The company has a market capitalization of $6.38 billion, a PE ratio of -928.00, a P/E/G ratio of 8.29 and a beta of 0.62. The firm has a fifty day simple moving average of $44.87 and a 200 day simple moving average of $41.19. Squarespace, Inc. has a twelve month low of $26.70 and a twelve month high of $46.48.

Squarespace (NYSE:SQSP) last announced its earnings results on Friday, August 2nd. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $296.80 million during the quarter, compared to the consensus estimate of $293.12 million. Squarespace’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. As a group, equities analysts expect that Squarespace, Inc. will post 0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Mizuho lowered Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a research note on Monday, August 5th. UBS Group raised their target price on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Barclays upped their price target on shares of Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. Finally, B. Riley lowered 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. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Squarespace currently has an average rating of “Hold” and a consensus target price of $43.14.

Insider Activity

In other Squarespace news, CEO Anthony Casalena sold 145,182 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $46.33, for a total value of $6,726,282.06. Following the completion of the sale, the chief executive officer now directly owns 1,349,263 shares in the company, valued at $62,511,354.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Squarespace news, CEO Anthony Casalena sold 145,182 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $46.33, for a total value of $6,726,282.06. Following the transaction, the chief executive officer now owns 1,349,263 shares in the company, valued at $62,511,354.79. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $44.12, for a total value of $110,300.00. Following the sale, the insider now owns 37,486 shares of the company’s stock, valued at approximately $1,653,882.32. The disclosure for this sale can be found here. Insiders sold 379,701 shares of company stock worth $17,069,289 in the last quarter. 44.96% of the stock is owned by corporate insiders.

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.