B. Riley Lowers Squarespace (NYSE:SQSP) to Neutral

B. Riley downgraded shares of Squarespace (NYSE:SQSPFree Report) from a buy rating to a neutral rating in a research note published on Tuesday morning, Marketbeat Ratings reports. They currently have $43.00 price target on the stock.

A number of other equities analysts have also commented on the company. Mizuho raised Squarespace from a neutral rating to a buy rating and boosted their price objective for the stock from $34.00 to $50.00 in a research note on Friday, May 10th. JMP Securities reaffirmed a market outperform rating and set a $45.00 price target on shares of Squarespace in a research note on Tuesday, April 30th. Raymond James reaffirmed a market perform rating on shares of Squarespace in a research note on Monday, May 13th. Baird R W lowered Squarespace from a strong-buy rating to a hold rating in a research note on Monday, May 13th. Finally, The Goldman Sachs Group upped their price target on Squarespace from $36.00 to $40.00 and gave the company a neutral rating in a research note on Monday, May 13th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $42.08.

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Squarespace Stock Performance

Squarespace stock opened at $43.72 on Tuesday. The firm has a market cap of $6.01 billion, a P/E ratio of -874.40, a P/E/G ratio of 5.04 and a beta of 0.63. The business’s fifty day moving average is $39.67 and its two-hundred day moving average is $34.59. Squarespace has a 52 week low of $26.70 and a 52 week high of $44.29.

Insiders Place Their Bets

In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $43.82, for a total transaction of $109,550.00. Following the transaction, the insider now owns 42,486 shares of the company’s stock, valued at approximately $1,861,736.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jonathan D. Klein sold 700 shares of Squarespace stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $37.50, for a total transaction of $26,250.00. Following the completion of the transaction, the director now directly owns 651,380 shares in the company, valued at approximately $24,426,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $43.82, for a total value of $109,550.00. Following the transaction, the insider now owns 42,486 shares of the company’s stock, valued at $1,861,736.52. The disclosure for this sale can be found here. Insiders have sold 555,793 shares of company stock valued at $22,091,864 in the last 90 days. 44.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. boosted its stake in Squarespace by 195.2% in 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 during the period. International Assets Investment Management LLC boosted its stake in Squarespace by 3,201.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,301 shares of the company’s stock valued at $100,000 after purchasing an additional 3,201 shares during the period. Amalgamated Bank lifted its position in shares of Squarespace by 12.4% during the 3rd quarter. Amalgamated Bank now owns 5,106 shares of the company’s stock valued at $148,000 after acquiring an additional 565 shares during the period. Ameritas Investment Partners Inc. lifted its position in shares of 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 acquiring an additional 437 shares during the period. Finally, Handelsbanken Fonder AB bought a new stake in shares of Squarespace during the 4th quarter valued at $244,000. 92.30% of the stock is currently owned by institutional investors.

Squarespace Company Profile

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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.

See Also

Analyst Recommendations for Squarespace (NYSE:SQSP)

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