National Bank of Canada FI Increases Position in Squarespace, Inc. (NYSE:SQSP)

National Bank of Canada FI raised its holdings in shares of Squarespace, Inc. (NYSE:SQSP) by 33,600.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,700 shares of the company’s stock after purchasing an additional 33,600 shares during the period. National Bank of Canada FI’s holdings in Squarespace were worth $1,071,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Swiss National Bank increased its position in Squarespace by 8.7% during the 4th quarter. Swiss National Bank now owns 104,200 shares of the company’s stock valued at $3,440,000 after buying an additional 8,300 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Squarespace by 7.5% during the fourth quarter. Victory Capital Management Inc. now owns 43,083 shares of the company’s stock valued at $1,422,000 after acquiring an additional 3,011 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Squarespace by 1.0% in the 4th quarter. Russell Investments Group Ltd. now owns 241,632 shares of the company’s stock worth $7,991,000 after purchasing an additional 2,346 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Squarespace by 103.2% in the 4th quarter. New York State Common Retirement Fund now owns 36,709 shares of the company’s stock worth $1,212,000 after purchasing an additional 18,644 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new stake in Squarespace during the 4th quarter valued at about $244,000. 92.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SQSP has been the subject of several recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Squarespace in a report on Wednesday, May 8th. Royal Bank of Canada upped their price objective on Squarespace from $35.00 to $38.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 8th. The Goldman Sachs Group lifted their target price on Squarespace from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday. Citigroup upped their price target on Squarespace from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $45.00 price objective (up from $40.00) on shares of Squarespace in a report on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.08.

Squarespace Trading Down 0.2 %

Shares of NYSE:SQSP opened at $43.19 on Wednesday. The firm’s 50 day moving average price is $35.56 and its 200-day moving average price is $32.39. Squarespace, Inc. has a twelve month low of $26.70 and a twelve month high of $43.36.

Squarespace (NYSE:SQSP) last announced its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates 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. The company’s revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) earnings per share. As a group, analysts predict that Squarespace, Inc. will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Squarespace news, CEO Anthony Casalena sold 67,230 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $31.83, for a total transaction of $2,139,930.90. Following the completion of the sale, the chief executive officer now owns 3,388,279 shares of the company’s stock, valued at $107,848,920.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction on Monday, May 13th. The shares were sold at an average price of $43.21, for a total transaction of $108,025.00. Following the transaction, the insider now owns 41,186 shares in the company, valued at approximately $1,779,647.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anthony Casalena sold 67,230 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $31.83, for a total transaction of $2,139,930.90. Following the completion of the transaction, the chief executive officer now directly owns 3,388,279 shares of the company’s stock, valued at approximately $107,848,920.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 484,789 shares of company stock valued at $17,903,473. 44.96% of the stock is owned by company insiders.

Squarespace 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.