Squarespace, Inc. (NYSE:SQSP) Stock Position Lifted by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its position in shares of Squarespace, Inc. (NYSE:SQSP) by 3,201.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,301 shares of the company’s stock after acquiring an additional 3,201 shares during the period. International Assets Investment Management LLC’s holdings in Squarespace were worth $100,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SQSP. Wellington Management Group LLP raised its stake in Squarespace by 124.8% during the third quarter. Wellington Management Group LLP now owns 7,015,353 shares of the company’s stock worth $203,235,000 after acquiring an additional 3,894,084 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Squarespace by 20.4% during the third quarter. Vanguard Group Inc. now owns 5,865,295 shares of the company’s stock valued at $169,918,000 after acquiring an additional 994,880 shares during the period. Lazard Asset Management LLC grew its position in shares of Squarespace by 291.3% during the third quarter. Lazard Asset Management LLC now owns 505,910 shares of the company’s stock worth $14,655,000 after acquiring an additional 376,634 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Squarespace by 17.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 912,135 shares of the company’s stock valued at $26,425,000 after purchasing an additional 134,598 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Squarespace by 32.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,091 shares of the company’s stock valued at $15,183,000 after purchasing an additional 127,362 shares during the period. 92.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SQSP has been the topic of several analyst reports. Piper Sandler restated an “overweight” rating and issued a $40.00 target price on shares of Squarespace in a research report on Thursday, February 29th. Robert W. Baird raised shares of Squarespace from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $30.00 to $39.00 in a report on Monday, March 4th. Citigroup raised their target price 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 upped their price target on shares of Squarespace from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Finally, JMP Securities raised their price objective on shares of Squarespace from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.54.

Squarespace Stock Performance

NYSE SQSP opened at $35.56 on Tuesday. The stock has a market capitalization of $4.86 billion, a P/E ratio of -711.20, a P/E/G ratio of 3.51 and a beta of 0.51. The business’s fifty day moving average is $34.51 and its two-hundred day moving average is $31.77. Squarespace, Inc. has a 1 year low of $25.59 and a 1 year high of $37.89.

Squarespace (NYSE:SQSP) last announced its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The firm had revenue of $270.72 million during the quarter, compared to the consensus estimate of $263.41 million. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.07) earnings per share. On average, research analysts forecast that Squarespace, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other Squarespace news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $36.81, for a total transaction of $92,025.00. Following the transaction, the insider now directly owns 43,686 shares in the company, valued at approximately $1,608,081.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Jonathan D. Klein sold 47,247 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $37.65, for a total value of $1,778,849.55. Following the transaction, the director now owns 604,133 shares in the company, valued at approximately $22,745,607.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Gubbay sold 2,500 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 43,686 shares of the company’s stock, valued at $1,608,081.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 274,677 shares of company stock valued at $9,467,099. Company insiders own 47.14% of the company’s stock.

About Squarespace

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.