Russell Investments Group Ltd. Increases Stake in Squarespace, Inc. (NYSE:SQSP)

Russell Investments Group Ltd. grew its stake in shares of Squarespace, Inc. (NYSE:SQSP) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 241,632 shares of the company’s stock after purchasing an additional 2,346 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.18% of Squarespace worth $7,991,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SQSP. SG Americas Securities LLC purchased a new stake in Squarespace during the 3rd quarter valued at $405,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Squarespace by 28.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the company’s stock worth $263,000 after purchasing an additional 2,001 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Squarespace by 102.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,344 shares of the company’s stock valued at $329,000 after purchasing an additional 5,739 shares during the period. Principal Financial Group Inc. raised its position in Squarespace by 45.4% during the 3rd quarter. Principal Financial Group Inc. now owns 23,528 shares of the company’s stock valued at $682,000 after purchasing an additional 7,349 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Squarespace by 2.1% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 102,465 shares of the company’s stock worth $2,968,000 after buying an additional 2,113 shares during the period. Institutional investors own 92.30% of the company’s stock.

Squarespace Price Performance

SQSP stock opened at $36.88 on Wednesday. Squarespace, Inc. has a 1 year low of $26.70 and a 1 year high of $37.91. The company has a market cap of $5.04 billion, a P/E ratio of -737.60, a price-to-earnings-growth ratio of 3.48 and a beta of 0.52. The stock’s fifty day moving average price is $34.79 and its 200-day moving average price is $31.94.

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 the consensus estimate of $0.16 by ($0.12). The business had revenue of $270.72 million during the quarter, compared to analyst estimates of $263.41 million. During the same quarter last year, the firm earned ($0.07) earnings per share. The business’s revenue was up 18.3% on a year-over-year basis. As a group, analysts expect that Squarespace, Inc. will post 0.5 earnings per share for the current year.

Insider Activity at Squarespace

In other news, CEO Anthony Casalena sold 26,800 shares of Squarespace stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $31.90, for a total transaction of $854,920.00. Following the transaction, the chief executive officer now owns 3,495,096 shares in the company, valued at approximately $111,493,562.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Squarespace news, CEO Anthony Casalena sold 26,800 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $31.90, for a total value of $854,920.00. Following the completion of the sale, the chief executive officer now owns 3,495,096 shares in the company, valued at $111,493,562.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Nathan Gooden sold 5,129 shares of Squarespace stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $31.85, for a total value of $163,358.65. Following the transaction, the chief financial officer now directly owns 66,503 shares in the company, valued at $2,118,120.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 342,106 shares of company stock worth $11,865,704. 47.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. B. Riley raised their price target on Squarespace from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. JMP Securities reaffirmed a “market outperform” rating and set a $45.00 target price on shares of Squarespace in a research note on Tuesday, April 30th. Robert W. Baird raised shares of Squarespace from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $30.00 to $39.00 in a research note on Monday, March 4th. Royal Bank of Canada lifted their price objective on Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. Finally, Barclays raised their target price on Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.54.

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.