Raymond James & Associates Takes $391,000 Position in Squarespace, Inc. (NYSE:SQSP)

Raymond James & Associates acquired a new stake in shares of Squarespace, Inc. (NYSE:SQSP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,859 shares of the company’s stock, valued at approximately $391,000.

Several other large investors also recently made changes to their positions in SQSP. Sunbelt Securities Inc. boosted its position in shares of Squarespace by 195.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company’s stock valued at $72,000 after purchasing an additional 1,638 shares in the last quarter. Amalgamated Bank lifted its stake in Squarespace by 12.4% during the third quarter. Amalgamated Bank now owns 5,106 shares of the company’s stock valued at $148,000 after buying an additional 565 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Squarespace during the third quarter valued at about $250,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Squarespace by 28.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the company’s stock valued at $263,000 after buying an additional 2,001 shares in the last quarter. Finally, Maven Securities LTD purchased a new stake in Squarespace during the third quarter valued at about $265,000. Institutional investors own 92.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays upped 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. Royal Bank of Canada upped their price objective on shares of Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Squarespace in a research note on Thursday, February 29th. Raymond James assumed coverage on shares of Squarespace in a research report on Wednesday, March 27th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, B. Riley increased their price target on shares of Squarespace from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Squarespace presently has an average rating of “Moderate Buy” and a consensus target price of $38.54.

Insider Transactions at Squarespace

In other news, Director Jonathan D. Klein sold 700 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $37.50, for a total value of $26,250.00. Following the sale, the director now owns 651,380 shares in the company, valued at $24,426,750. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Anthony Casalena sold 26,800 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 3,495,096 shares of the company’s stock, valued at $111,493,562.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan D. Klein sold 700 shares of the firm’s 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 completion of the transaction, the director now directly owns 651,380 shares of the company’s stock, valued at $24,426,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 341,097 shares of company stock worth $11,616,450. Insiders own 47.14% of the company’s stock.

Squarespace Stock Performance

Shares of SQSP opened at $35.53 on Friday. Squarespace, Inc. has a twelve month low of $25.59 and a twelve month high of $37.89. The firm’s 50 day moving average price is $34.43 and its 200 day moving average price is $31.72. The firm has a market cap of $4.85 billion, a PE ratio of -710.60, a PEG ratio of 3.49 and a beta of 0.51.

Squarespace (NYSE:SQSP) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 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 the consensus estimate of $263.41 million. During the same quarter in the previous year, the business posted ($0.07) EPS. The firm’s revenue was up 18.3% on a year-over-year basis. On average, sell-side analysts anticipate that Squarespace, Inc. will post 0.5 earnings per share for the current fiscal 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.