Victory Capital Management Inc. Sells 769 Shares of Squarespace, Inc. (NYSE:SQSP)

Victory Capital Management Inc. decreased its position in Squarespace, Inc. (NYSE:SQSP) by 4.3% during the third quarter, HoldingsChannel.com reports. The firm owned 17,242 shares of the company’s stock after selling 769 shares during the quarter. Victory Capital Management Inc.’s holdings in Squarespace were worth $666,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. General Atlantic L.P. bought a new position in Squarespace in the 2nd quarter worth about $1,328,471,000. Index Venture Growth Associates I Ltd bought a new position in Squarespace during the 2nd quarter valued at about $1,144,594,000. Vanguard Group Inc. bought a new position in Squarespace during the 2nd quarter valued at about $88,968,000. Dragoneer Investment Group LLC bought a new position in Squarespace during the 2nd quarter valued at about $76,319,000. Finally, Blackstone Inc bought a new position in Squarespace during the 2nd quarter valued at about $50,404,000. Institutional investors own 37.88% of the company’s stock.

In other news, General Counsel Courtenay O’connor sold 4,375 shares of Squarespace stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $34.26, for a total transaction of $149,887.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several research firms have issued reports on SQSP. Mizuho lowered their target price on shares of Squarespace from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, November 19th. Zacks Investment Research cut shares of Squarespace from a “buy” rating to a “hold” rating in a research note on Tuesday, November 16th. Royal Bank of Canada lowered their price objective on shares of Squarespace from $48.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Friday, November 19th. KeyCorp lowered their price objective on shares of Squarespace from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 21st. Finally, Piper Sandler lowered their price objective on shares of Squarespace from $52.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Squarespace currently has a consensus rating of “Buy” and a consensus target price of $59.94.

Shares of SQSP opened at $29.55 on Friday. The business has a fifty day moving average of $33.68 and a 200 day moving average of $42.66. Squarespace, Inc. has a 52-week low of $25.68 and a 52-week high of $64.71.

Squarespace (NYSE:SQSP) last issued its quarterly earnings results on Monday, November 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $200.96 million during the quarter, compared to the consensus estimate of $197.96 million. The firm’s revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS. On average, sell-side analysts anticipate that Squarespace, Inc. will post -3.19 earnings per share for the current fiscal 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. The company offers websites, domains, e-commerce, tools for managing a social media presence, marketing tools, and scheduling capabilities.

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Institutional Ownership by Quarter for Squarespace (NYSE:SQSP)

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