Trust Point Inc. Has $454,000 Stock Position in Squarespace, Inc. (NYSE:SQSP)

Trust Point Inc. lessened its holdings in shares of Squarespace, Inc. (NYSE:SQSP) by 63.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,784 shares of the company’s stock after selling 17,120 shares during the period. Trust Point Inc.’s holdings in Squarespace were worth $454,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in shares of Squarespace by 3.8% during the second quarter. Nisa Investment Advisors LLC now owns 9,522 shares of the company’s stock worth $415,000 after acquiring an additional 352 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Squarespace by 8.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock valued at $206,000 after purchasing an additional 437 shares during the period. Ellsworth Advisors LLC raised its holdings in Squarespace by 3.6% during the 3rd quarter. Ellsworth Advisors LLC now owns 14,883 shares of the company’s stock worth $691,000 after purchasing an additional 513 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of Squarespace by 3.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 17,200 shares of the company’s stock worth $799,000 after purchasing an additional 600 shares during the period. Finally, Diversified Trust Co boosted its stake in shares of Squarespace by 13.1% in the 1st quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock valued at $348,000 after purchasing an additional 1,111 shares during the last quarter. Institutional investors own 92.30% of the company’s stock.

Squarespace Price Performance

NYSE:SQSP opened at $46.57 on Friday. Squarespace, Inc. has a one year low of $26.70 and a one year high of $46.69. The company has a market cap of $6.40 billion, a PE ratio of -931.40, a PEG ratio of 8.33 and a beta of 0.62. The firm has a 50-day moving average of $45.86 and a 200-day moving average of $42.93.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Mizuho downgraded shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price for the company. in a research note on Monday, August 5th. William Blair reissued a “market perform” rating on shares of Squarespace in a research note on Monday, October 14th. UBS Group raised their target price on Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Finally, Barclays boosted their price target on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $43.14.

Insider Activity

In related news, CEO Anthony Casalena sold 68,659 shares of the business’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 transaction, the chief executive officer now directly owns 1,698,304 shares in the company, valued at approximately $75,031,070.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Anthony Casalena sold 68,659 shares of Squarespace stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $44.18, for a total transaction of $3,033,354.62. Following 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $44.12, for a total value of $110,300.00. Following the completion of the transaction, the insider now owns 37,486 shares of the company’s stock, valued at $1,653,882.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,468,293 shares of company stock worth $672,517,295 over the last quarter. Insiders own 44.96% of the company’s stock.

Squarespace Company 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.