Squarespace, Inc. (NYSE:SQSP) Shares Sold by Brooklyn FI LLC

Brooklyn FI LLC lowered its holdings in Squarespace, Inc. (NYSE:SQSP) by 4.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,041 shares of the company’s stock after selling 800 shares during the quarter. Brooklyn FI LLC’s holdings in Squarespace were worth $791,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SQSP. Blue Trust Inc. boosted its holdings in Squarespace by 15.6% during the third quarter. Blue Trust Inc. now owns 7,040 shares of the company’s stock worth $307,000 after buying an additional 948 shares in the last quarter. Ellsworth Advisors LLC boosted its holdings in Squarespace by 3.6% during the third quarter. Ellsworth Advisors LLC now owns 14,883 shares of the company’s stock worth $691,000 after buying an additional 513 shares in the last quarter. Creative Planning boosted its holdings in Squarespace by 108.2% during the third quarter. Creative Planning now owns 10,637 shares of the company’s stock worth $494,000 after buying an additional 5,528 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in Squarespace during the third quarter worth $356,000. Finally, CWM LLC boosted its holdings in Squarespace by 61.4% during the third quarter. CWM LLC now owns 3,253 shares of the company’s stock worth $151,000 after buying an additional 1,237 shares in the last quarter. Institutional investors and hedge funds own 92.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Andrew Braccia sold 13,929,575 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $46.50, for a total transaction of $647,725,237.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Anthony Casalena sold 68,659 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $44.18, for a total transaction of $3,033,354.62. Following the completion of the sale, the chief executive officer now directly owns 1,698,304 shares in the company, valued at approximately $75,031,070.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew Braccia sold 13,929,575 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $46.50, for a total transaction of $647,725,237.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,468,293 shares of company stock worth $672,517,295. Insiders own 44.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SQSP shares. Barclays increased 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. William Blair reaffirmed a “market perform” rating on shares of Squarespace in a report on Monday, October 14th. Mizuho downgraded shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a report on Monday, August 5th. Finally, UBS Group increased their price objective on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $43.14.

Squarespace Stock Performance

NYSE:SQSP opened at $46.57 on Friday. The company’s 50-day moving average price is $46.22 and its 200-day moving average price is $43.67. The company has a market cap of $6.40 billion, a P/E ratio of -931.40, a P/E/G ratio of 8.33 and a beta of 0.62. Squarespace, Inc. has a twelve month low of $26.70 and a twelve month high of $46.69.

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

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.