Squarespace (NYSE:SQSP) Upgraded by Piper Sandler to “Overweight”

Piper Sandler upgraded shares of Squarespace (NYSE:SQSPGet Rating) from a neutral rating to an overweight rating in a research report report published on Monday morning, MarketBeat Ratings reports. The firm currently has $30.00 target price on the stock, up from their prior target price of $22.00.

A number of other research firms also recently weighed in on SQSP. Truist Financial cut their target price on Squarespace to $31.00 in a research report on Tuesday, July 26th. KeyCorp dropped their price objective on Squarespace from $25.00 to $22.00 and set an overweight rating for the company in a research report on Wednesday, November 9th. Oppenheimer began coverage on Squarespace in a research report on Tuesday, July 26th. They set a market perform rating for the company. Finally, Credit Suisse Group dropped their price objective on Squarespace from $25.00 to $24.00 and set a neutral rating for the company in a research report on Wednesday, November 9th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $26.75.

Squarespace Trading Up 2.7 %

NYSE:SQSP opened at $20.63 on Monday. The stock has a fifty day moving average price of $21.27 and a 200-day moving average price of $21.26. Squarespace has a fifty-two week low of $14.43 and a fifty-two week high of $37.49.

Insiders Place Their Bets

In other Squarespace news, major shareholder Ventures Growth I. Parall Index sold 63,029 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $21.98, for a total value of $1,385,377.42. Following the completion of the transaction, the insider now owns 452,368 shares of the company’s stock, valued at approximately $9,943,048.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Squarespace news, major shareholder Ventures Growth I. Parall Index sold 40,609 shares of the company’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $22.54, for a total value of $915,326.86. Following the completion of the transaction, the insider now owns 411,759 shares of the company’s stock, valued at approximately $9,281,047.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Ventures Growth I. Parall Index sold 63,029 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $21.98, for a total value of $1,385,377.42. Following the completion of the sale, the insider now directly owns 452,368 shares of the company’s stock, valued at approximately $9,943,048.64. The disclosure for this sale can be found here. Insiders own 45.51% of the company’s stock.

Institutional Investors Weigh In On Squarespace

Institutional investors and hedge funds have recently made changes to their positions in the stock. FDx Advisors Inc. acquired a new stake in shares of Squarespace in the first quarter valued at about $399,000. Hawk Ridge Capital Management LP acquired a new stake in shares of Squarespace in the first quarter valued at about $3,187,000. Riverbridge Partners LLC increased its stake in shares of Squarespace by 8.7% in the second quarter. Riverbridge Partners LLC now owns 2,527,330 shares of the company’s stock valued at $52,872,000 after buying an additional 202,516 shares during the period. HighTower Advisors LLC increased its stake in shares of Squarespace by 1.3% in the first quarter. HighTower Advisors LLC now owns 625,199 shares of the company’s stock valued at $16,024,000 after buying an additional 8,063 shares during the period. Finally, HarbourVest Partners LLC acquired a new stake in shares of Squarespace in the first quarter valued at about $3,703,000. Institutional investors and hedge funds own 41.20% of the company’s stock.

Squarespace Company Profile

(Get Rating)

Squarespace, Inc operates platform for businesses and independent creators to build online presence, grow their brands, and manage their businesses across the internet. Its suite of integrated products enables users to manage their projects and businesses through websites, domains, e-commerce, marketing tools, and scheduling, as well as tools for managing a social media presence.

See Also

Analyst Recommendations for Squarespace (NYSE:SQSP)

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