Rhumbline Advisers Acquires 4,712 Shares of Squarespace, Inc. (NYSE:SQSP)

Rhumbline Advisers raised its holdings in Squarespace, Inc. (NYSE:SQSP) by 5.5% during the second quarter, Holdings Channel reports. The institutional investor owned 91,117 shares of the company’s stock after buying an additional 4,712 shares during the quarter. Rhumbline Advisers’ holdings in Squarespace were worth $3,975,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SQSP. Wellington Management Group LLP raised its holdings in shares of Squarespace by 18.1% in the fourth quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock valued at $273,457,000 after purchasing an additional 1,268,698 shares during the last quarter. Kodai Capital Management LP bought a new stake in Squarespace during the first quarter valued at approximately $36,938,000. Vanguard Group Inc. raised its stake in shares of Squarespace by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company’s stock worth $209,449,000 after acquiring an additional 479,712 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Squarespace during the second quarter worth approximately $18,164,000. Finally, Acadian Asset Management LLC raised its stake in shares of Squarespace by 24.0% during the first quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock worth $59,643,000 after acquiring an additional 317,416 shares in the last quarter. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Insider Buying and Selling

In related news, CEO Anthony Casalena sold 60,012 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $43.52, for a total value of $2,611,722.24. Following the transaction, the chief executive officer now owns 2,092,872 shares in the company, valued at approximately $91,081,789.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Squarespace news, CEO Anthony Casalena sold 60,012 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $43.52, for a total value of $2,611,722.24. Following the completion of the transaction, the chief executive officer now owns 2,092,872 shares of the company’s stock, valued at approximately $91,081,789.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $46.29, for a total value of $115,725.00. Following the completion of the transaction, the insider now directly owns 46,269 shares of the company’s stock, valued at approximately $2,141,792.01. The disclosure for this sale can be found here. Insiders have sold a total of 234,519 shares of company stock worth $10,343,007 in the last quarter. Corporate insiders own 44.96% of the company’s stock.

Squarespace Price Performance

Shares of Squarespace stock opened at $46.30 on Tuesday. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of -926.00, a PEG ratio of 8.29 and a beta of 0.62. The firm’s 50-day moving average is $44.66 and its 200 day moving average is $40.92. Squarespace, Inc. has a 1 year low of $26.70 and a 1 year high of $46.37.

Squarespace (NYSE:SQSP) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $296.80 million for the quarter, compared to the consensus estimate of $293.12 million. Squarespace’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. On average, equities analysts expect that Squarespace, Inc. will post 0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SQSP shares. Barclays lifted their target price on shares of Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. UBS Group boosted their price objective on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. B. Riley downgraded shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research report on Tuesday, June 11th. Finally, Mizuho downgraded shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a research report on Monday, August 5th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Squarespace has a consensus rating of “Hold” and an average price target of $43.14.

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.