Posted by admin on Apr 18th, 2022 
Squarespace, Inc. (NYSE:SQSP – Get Rating) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,730,000 shares, an increase of 27.2% from the March 15th total of 1,360,000 shares. Based on an average trading volume of 523,000 shares, the short-interest ratio is presently 3.3 days. Approximately 5.9% of the shares of the stock are sold short.
In related news, General Counsel Courtenay O’connor sold 6,557 shares of the stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $26.89, for a total transaction of $176,317.73. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Several institutional investors and hedge funds have recently modified their holdings of SQSP. Riverbridge Partners LLC acquired a new position in shares of Squarespace in the 4th quarter worth approximately $34,672,000. HighTower Advisors LLC bought a new stake in shares of Squarespace in the 3rd quarter worth approximately $23,927,000. BlackRock Inc. bought a new stake in shares of Squarespace in the 3rd quarter worth approximately $13,302,000. Geode Capital Management LLC bought a new stake in shares of Squarespace in the 3rd quarter worth approximately $9,193,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Squarespace in the 4th quarter worth approximately $5,698,000. Institutional investors own 38.93% of the company’s stock.
A number of equities analysts have recently commented on the company. Barclays cut their price objective on Squarespace from $40.00 to $29.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 8th. Zacks Investment Research downgraded Squarespace from a “hold” rating to a “sell” rating in a report on Friday, March 11th. Berenberg Bank assumed coverage on Squarespace in a research note on Wednesday, January 12th. They issued a “buy” rating and a $42.00 target price for the company. Wedbush lowered their target price on Squarespace from $37.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, March 7th. Finally, Piper Sandler lowered their target price on Squarespace from $52.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, January 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Squarespace currently has an average rating of “Buy” and an average price target of $49.47.
Shares of SQSP traded down $2.50 during mid-day trading on Monday, hitting $22.58. The stock had a trading volume of 331,418 shares, compared to its average volume of 501,647. The company’s fifty day moving average price is $27.27. Squarespace has a fifty-two week low of $18.57 and a fifty-two week high of $64.71.
About Squarespace (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.
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