21,028 Shares in Squarespace, Inc. (NYSE:SQSP) Bought by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. acquired a new stake in Squarespace, Inc. (NYSE:SQSP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 21,028 shares of the company’s stock, valued at approximately $694,000.

A number of other hedge funds have also recently modified their holdings of SQSP. Quarry LP bought a new stake in shares of Squarespace during the 2nd quarter valued at about $25,000. Sunbelt Securities Inc. purchased a new position in shares of Squarespace during the first quarter valued at approximately $26,000. Neo Ivy Capital Management purchased a new position in shares of Squarespace during the second quarter valued at approximately $31,000. Comerica Bank purchased a new position in shares of Squarespace during the third quarter valued at approximately $31,000. Finally, Captrust Financial Advisors raised its holdings in shares of Squarespace by 2,128.1% during the first quarter. Captrust Financial Advisors now owns 1,270 shares of the company’s stock valued at $33,000 after purchasing an additional 1,213 shares during the last quarter. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Squarespace Stock Performance

Shares of NYSE:SQSP opened at $35.22 on Tuesday. The firm has a fifty day moving average price of $33.86 and a 200 day moving average price of $31.35. Squarespace, Inc. has a fifty-two week low of $25.59 and a fifty-two week high of $37.89. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of -704.40, a P/E/G ratio of 3.61 and a beta of 0.51.

Squarespace (NYSE:SQSP) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $263.41 million. During the same period in the prior year, the business earned ($0.07) EPS. The firm’s revenue was up 18.3% compared to the same quarter last year. As a group, research analysts predict that Squarespace, Inc. will post 0.5 earnings per share for the current year.

Insider Activity

In related news, CEO Anthony Casalena sold 59,935 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $32.71, for a total value of $1,960,473.85. Following the transaction, the chief executive officer now owns 3,588,316 shares of the company’s stock, valued at approximately $117,373,816.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Anthony Casalena sold 59,935 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $32.71, for a total value of $1,960,473.85. Following the transaction, the chief executive officer now owns 3,588,316 shares of the company’s stock, valued at approximately $117,373,816.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan D. Klein sold 700 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,143 shares of company stock valued at $11,870,412. 47.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SQSP. Citigroup upped their target price on shares of Squarespace from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 target price on shares of Squarespace in a report on Thursday, February 29th. B. Riley upped their target price on shares of Squarespace from $41.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Royal Bank of Canada upped their target price on shares of Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Finally, Mizuho upped their target price on shares of Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Five 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.54.

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.