DekaBank Deutsche Girozentrale Cuts Position in Squarespace, Inc. (NYSE:SQSP)

DekaBank Deutsche Girozentrale decreased its holdings in Squarespace, Inc. (NYSE:SQSP) by 17.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 8,124 shares of the company’s stock after selling 1,677 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Squarespace were worth $267,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SQSP. Quarry LP purchased a new position in Squarespace in the second quarter valued at approximately $25,000. Sunbelt Securities Inc. purchased a new position in Squarespace in the first quarter valued at approximately $26,000. Point72 Middle East FZE purchased a new position in Squarespace in the fourth quarter valued at approximately $30,000. Neo Ivy Capital Management purchased a new position in Squarespace in the second quarter valued at approximately $31,000. Finally, Comerica Bank purchased a new position in Squarespace in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Squarespace Stock Up 0.2 %

SQSP stock opened at $35.29 on Wednesday. The company has a market capitalization of $4.82 billion, a P/E ratio of -705.70, a PEG ratio of 3.61 and a beta of 0.51. The company has a 50-day simple moving average of $33.94 and a 200 day simple moving average of $31.40. Squarespace, Inc. has a fifty-two week low of $25.59 and a fifty-two week high of $37.89.

Squarespace (NYSE:SQSP) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share 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 period in the prior year, the firm earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. Equities analysts anticipate that Squarespace, Inc. will post 0.5 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on SQSP shares. Raymond James started coverage on shares of Squarespace in a research note on Wednesday, March 27th. They set an “outperform” rating and a $40.00 price objective on the stock. B. Riley lifted their price objective on shares of Squarespace from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Citigroup lifted their price objective on shares of Squarespace from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Barclays lifted their price objective on shares of Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Finally, Mizuho lifted their price objective on shares of Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.54.

Insiders Place Their Bets

In other Squarespace news, CEO Anthony Casalena sold 66,420 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $32.36, for a total value of $2,149,351.20. Following the sale, the chief executive officer now directly owns 3,521,896 shares in the company, valued at $113,968,554.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Squarespace news, CFO Nathan Gooden sold 5,129 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $31.85, for a total transaction of $163,358.65. Following the sale, the chief financial officer now owns 66,503 shares in the company, valued at approximately $2,118,120.55. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Anthony Casalena sold 66,420 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $32.36, for a total value of $2,149,351.20. Following the sale, the chief executive officer now owns 3,521,896 shares in the company, valued at approximately $113,968,554.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,143 shares of company stock worth $11,870,412. 47.14% of the stock is owned by corporate insiders.

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.