Squarespace, Inc. (NYSE:SQSP) Shares Sold by Trust Point Inc.

Trust Point Inc. reduced its holdings in shares of Squarespace, Inc. (NYSE:SQSP - Free Report) by 63.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,784 shares of the company's stock after selling 17,120 shares during the quarter. Trust Point Inc.'s holdings in Squarespace were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Squarespace in the second quarter worth $71,000. CWM LLC lifted its holdings in Squarespace by 185.6% in the 2nd quarter. CWM LLC now owns 2,016 shares of the company's stock valued at $88,000 after purchasing an additional 1,310 shares in the last quarter. Quest Partners LLC lifted its holdings in Squarespace by 1,828.9% in the 2nd quarter. Quest Partners LLC now owns 2,739 shares of the company's stock valued at $120,000 after purchasing an additional 2,597 shares in the last quarter. Sagefield Capital LP acquired a new stake in shares of Squarespace during the 2nd quarter worth about $197,000. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Squarespace by 8.4% during the first quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company's stock worth $206,000 after buying an additional 437 shares in the last quarter. Institutional investors and hedge funds own 92.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SQSP. William Blair reissued a "market perform" rating on shares of Squarespace in a research note on Monday, October 14th. UBS Group increased their price target on Squarespace from $44.00 to $46.50 and gave the stock a "neutral" rating in a research note on Tuesday, September 10th. Barclays lifted their price objective on Squarespace from $44.00 to $47.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 10th. Finally, Mizuho downgraded Squarespace from an "outperform" rating to a "neutral" rating and set a $44.00 target price on the stock. in a research report on Monday, August 5th. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $43.14.

Insider Buying and Selling

In other news, Director Andrew Braccia sold 13,929,575 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $46.50, for a total value of $647,725,237.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Andrew Braccia sold 13,929,575 shares of the company's stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $46.50, for a total value of $647,725,237.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction on Monday, August 12th. The stock was sold at an average price of $44.12, for a total transaction of $110,300.00. Following the sale, the insider now directly owns 37,486 shares in the company, 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. In the last three months, insiders sold 14,468,293 shares of company stock valued at $672,517,295. Company insiders own 44.96% of the company's stock.

Squarespace Stock Performance

Shares of Squarespace stock remained flat at $46.57 during trading hours on Friday. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of -931.40, a price-to-earnings-growth ratio of 8.33 and a beta of 0.62. Squarespace, Inc. has a 12-month low of $26.70 and a 12-month high of $46.69. The stock's 50-day moving average price is $45.86 and its 200-day moving average price is $42.98.

Squarespace (NYSE:SQSP - Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $296.80 million for the quarter, compared to analysts' expectations of $293.12 million. During the same quarter last year, the firm earned $0.03 EPS. The business's revenue for the quarter was up 19.9% compared to the same quarter last year. Equities analysts anticipate that Squarespace, Inc. will post 0.28 earnings per share for the current year.

Squarespace 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.