Zurcher Kantonalbank Zurich Cantonalbank Acquires 572 Shares of Squarespace, Inc. (NYSE:SQSP)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Squarespace, Inc. (NYSE:SQSP) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,658 shares of the company’s stock after purchasing an additional 572 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Squarespace were worth $319,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SQSP. Sunbelt Securities Inc. raised its position in 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. International Assets Investment Management LLC raised its holdings in shares of Squarespace by 3,201.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,301 shares of the company’s stock valued at $100,000 after acquiring an additional 3,201 shares in the last quarter. Amalgamated Bank lifted its stake in Squarespace by 12.4% in the third quarter. Amalgamated Bank now owns 5,106 shares of the company’s stock worth $148,000 after acquiring an additional 565 shares during the period. Landscape Capital Management L.L.C. bought a new position in Squarespace during the 3rd quarter worth about $250,000. Finally, Maven Securities LTD purchased a new position in Squarespace during the 3rd quarter valued at about $265,000. 92.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Squarespace

In other Squarespace news, CEO Anthony Casalena sold 26,800 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was 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 $111,493,562.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Squarespace news, CEO Anthony Casalena sold 26,800 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 3,495,096 shares in the company, valued at $111,493,562.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan D. Klein sold 700 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $37.50, for a total transaction of $26,250.00. Following the transaction, the director now directly owns 651,380 shares in the company, valued at $24,426,750. The disclosure for this sale can be found here. Insiders sold a total of 342,106 shares of company stock worth $11,865,704 in the last 90 days. Corporate insiders own 47.14% of the company’s stock.

Squarespace Trading Up 2.6 %

Shares of NYSE:SQSP opened at $35.24 on Monday. The company has a market capitalization of $4.81 billion, a PE ratio of -704.80, a PEG ratio of 3.48 and a beta of 0.52. Squarespace, Inc. has a 12-month low of $25.59 and a 12-month high of $37.89. The business has a 50 day moving average of $34.75 and a two-hundred day moving average of $31.90.

Squarespace (NYSE:SQSP) last announced its quarterly 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 company had revenue of $270.72 million for the quarter, compared to analysts’ expectations of $263.41 million. The business’s quarterly revenue 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. Equities research analysts predict that Squarespace, Inc. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SQSP has been the subject of several research reports. Mizuho upped their price target on shares of Squarespace from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Piper Sandler restated an “overweight” rating and set a $40.00 target price on shares of Squarespace in a report on Thursday, February 29th. Barclays boosted their price target on Squarespace from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. Raymond James started coverage on Squarespace in a research report on Wednesday, March 27th. They set an “outperform” rating and a $40.00 price objective on the stock. Finally, Royal Bank of Canada boosted their target price on shares of Squarespace from $32.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.54.

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.