Federated Hermes Inc. Sells 45,007 Shares of Squarespace, Inc. (NYSE:SQSP)

Federated Hermes Inc. trimmed its stake in shares of Squarespace, Inc. (NYSE:SQSP) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 551,400 shares of the company’s stock after selling 45,007 shares during the quarter. Federated Hermes Inc. owned approximately 0.41% of Squarespace worth $18,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP bought a new stake in Squarespace during the second quarter valued at $25,000. Sunbelt Securities Inc. bought a new stake in Squarespace during the first quarter worth $26,000. Point72 Middle East FZE purchased a new stake in shares of Squarespace in the fourth quarter valued at about $30,000. Neo Ivy Capital Management bought a new position in shares of Squarespace during the second quarter valued at about $31,000. Finally, Comerica Bank purchased a new position in Squarespace during the third quarter worth about $31,000. 92.30% of the stock is owned by institutional investors and hedge funds.

Squarespace Stock Down 0.7 %

Shares of NYSE:SQSP opened at $34.49 on Monday. The company has a 50 day moving average of $34.10 and a 200 day moving average of $31.53. Squarespace, Inc. has a 12 month low of $25.59 and a 12 month high of $37.89.

Squarespace (NYSE:SQSP) last released its quarterly earnings results 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 firm had revenue of $270.72 million for the quarter, compared to analysts’ expectations of $263.41 million. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. On average, research analysts expect that Squarespace, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on SQSP. JMP Securities lifted their target price on shares of Squarespace from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Royal Bank of Canada boosted their price objective on Squarespace from $32.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. Barclays upped their price objective on Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Citigroup lifted their target price on Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, Piper Sandler restated an “overweight” rating and set a $40.00 price target on shares of Squarespace in a research report on Thursday, February 29th. Five investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $38.54.

Insider Buying and Selling at Squarespace

In other news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $36.81, for a total transaction of $92,025.00. Following the completion of the transaction, the insider now owns 43,686 shares of the company’s stock, valued at $1,608,081.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jonathan D. Klein sold 700 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $37.50, for a total value of $26,250.00. Following the transaction, the director now owns 651,380 shares of the company’s stock, valued at $24,426,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $36.81, for a total value of $92,025.00. Following the sale, the insider now owns 43,686 shares in the company, valued at approximately $1,608,081.66. The disclosure for this sale can be found here. Insiders have sold a total of 401,032 shares of company stock valued at $13,576,924 in the last 90 days. Corporate insiders own 47.14% of the company’s stock.

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.