SQSP (Squarespace Inc.) may reap gains as insiders became active recently


Squarespace Inc.’s recent filing unveils that its General Counsel and Secretary O’Connor Courtenay unloaded Company’s shares for reported $0.18 million on Feb 02. In the deal valued at $25.23 per share,7,028 shares were sold. As a result of this transaction, O’Connor Courtenay now holds 38,216 shares worth roughly $ 0.88 million.

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Then, Index Venture Growth Associate sold 668,902 shares, generating $13,444,930 in total proceeds. Upon selling the shares at $20.10, the 10% Owner now owns 0 shares.

Before that, Index Ventures Growth I Parall sold 89,325 shares. Squarespace Inc. shares valued at $1,905,633 were divested by the 10% Owner at a price of $21.33 per share. As a result of the transaction, Index Ventures Growth I Parall now holds 298,419 shares, worth roughly $6.88 million.

KeyBanc Capital Markets downgraded its Squarespace Inc. [SQSP] rating to a Sector weight from a an Overweight in a research note published on Friday. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who began to cover the stock in early January with a ‘”a Peer perform”‘ rating. Citigroup began covering SQSP with “Neutral” recommendation on December 13, 2022. Piper Sandler revised its rating on November 21, 2022. It rated SQSP as “an Overweight” which previously was an “a Neutral”.

Price Performance Review of SQSP

On Friday, Squarespace Inc. [NYSE:SQSP] saw its stock fall -4.20% to $23.06. On the same session, the stock had its day’s lowest price of $22.945, but rose to a high of $23.82. Over the last five days, the stock has lost -0.82%. Squarespace Inc. shares have risen nearly 4.01% since the year began. Nevertheless, the stocks have fallen -15.72% over the past one year. While a 52-week high of $30.69 was reached on 02/02/23, a 52-week low of $14.43 was recorded on 01/20/23. SMA at 50 days reached $22.45, while 200 days put it at $21.54. A total of 0.57 million shares were traded, compared to the trading of 0.36 million shares in the previous session.

Levels Of Support And Resistance For SQSP Stock

The 24-hour chart illustrates a support level at 22.73, which if violated will result in even more drops to 22.40. On the upside, there is a resistance level at 23.60. A further resistance level may holdings at 24.15. The Relative Strength Index (RSI) on the 14-day chart is 49.26, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.33, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 59.51%. Stochastics %K at 55.42% indicates the stock is a holding.

How much short interest is there in Squarespace Inc.?

A steep rise in short interest was recorded in Squarespace Inc. stocks on Jan 30, 2023, growing by 90000.0 shares to a total of 1.44 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 1.35 million shares. There was a rise of 6.25%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.07% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.21.

Squarespace Inc. [SQSP] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 4,362,715 shares, or roughly 4.90% of the outstanding SQSP shares. In other words, the investor’s shares have fallen by -350,894 from its previous 13-F filing of 4713609.0. Additionally, Riverbridge Partners LLC decreased -4.71% of its stake after which the total value it holdings stand at $55,099,164, while BlackRock Fund Advisors added 16.40% of its stake to hold $50.26 million in the firm. Over the last quarter, Hawk Ridge Capital Management LP purchased 389,011 shares of Squarespace Inc., while First Trust Advisors LP bought -136,575 shares. At present, SSgA Funds Management, Inc. is holding 661,529 shares valued at $15.69 million. Geode Capital Management LLC owned 655,580 shares of the company at the time of its most recent 13F filing, worth $15.55 million.

According to FactSet, Squarespace Inc.’s share price will average $24.60 in the next year, based on opinions of analysts polled by the firm. This is down nearly -0.29 percent from its previous closing price of $24.07. Analysts expect Squarespace Inc. stock to reach the higher price of $32.00, while the lowest price estimate is $20.00. However, 16 analysts have rated SQSP stock as a Hold in their predictions for 2023. The most recent change occurred on July 27, 2022 when Oppenheimer began covering the stock and recommended ‘”a Perform”‘ rating.


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