Mackenzie Financial Corp Decreases Stock Holdings in Squarespace, Inc. (NYSE:SQSP)

Mackenzie Financial Corp decreased its position in Squarespace, Inc. (NYSE:SQSP) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,681 shares of the company’s stock after selling 4,589 shares during the quarter. Mackenzie Financial Corp’s holdings in Squarespace were worth $1,310,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SQSP. SG Americas Securities LLC purchased a new position in shares of Squarespace during the third quarter valued at about $405,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Squarespace by 28.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the company’s stock valued at $263,000 after buying an additional 2,001 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Squarespace by 102.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 11,344 shares of the company’s stock valued at $329,000 after buying an additional 5,739 shares during the period. Principal Financial Group Inc. increased its position in shares of Squarespace by 45.4% during the third quarter. Principal Financial Group Inc. now owns 23,528 shares of the company’s stock valued at $682,000 after buying an additional 7,349 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Squarespace by 2.1% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 102,465 shares of the company’s stock valued at $2,968,000 after buying an additional 2,113 shares during the period. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Insider Transactions at Squarespace

In other news, CEO Anthony Casalena sold 45,389 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $35.57, for a total value of $1,614,486.73. Following the completion of the sale, the chief executive officer now owns 2,877,107 shares in the company, valued at approximately $102,338,695.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Anthony Casalena sold 45,389 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $35.57, for a total value of $1,614,486.73. Following the completion of the sale, the chief executive officer now owns 2,877,107 shares in the company, valued at approximately $102,338,695.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Courtenay O’connor sold 20,622 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $32.02, for a total transaction of $660,316.44. Following the completion of the sale, the general counsel now owns 44,189 shares of the company’s stock, valued at approximately $1,414,931.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 401,032 shares of company stock worth $13,576,924. 47.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SQSP has been the topic of several research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $40.00 price target on shares of Squarespace in a research report on Thursday, February 29th. Citigroup upped their price objective on shares of Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Mizuho upped their price objective on shares of Squarespace from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Barclays upped their price objective on shares of Squarespace from $34.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Finally, JMP Securities increased their price objective on shares of Squarespace from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Squarespace currently has a consensus rating of “Moderate Buy” and an average price target of $38.54.

Squarespace Stock Down 1.7 %

SQSP opened at $35.69 on Thursday. The company has a fifty day moving average of $34.30 and a 200 day moving average of $31.64. Squarespace, Inc. has a fifty-two week low of $25.59 and a fifty-two week high of $37.89.

Squarespace (NYSE:SQSP) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.12). The business had revenue of $270.72 million for the quarter, compared to analyst estimates of $263.41 million. During the same period in the prior year, the business earned ($0.07) EPS. The firm’s revenue was up 18.3% compared to the same quarter last year. Sell-side analysts predict that Squarespace, Inc. will post 0.5 earnings per share for the current year.

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.