Bardin Hill Management Partners LP Invests $1.48 Million in Squarespace, Inc. (NYSE:SQSP)

Bardin Hill Management Partners LP purchased a new stake in shares of Squarespace, Inc. (NYSE:SQSP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 33,885 shares of the company’s stock, valued at approximately $1,478,000. Squarespace comprises approximately 0.6% of Bardin Hill Management Partners LP’s holdings, making the stock its 18th biggest position.

Several other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in Squarespace by 3.8% during the second quarter. Nisa Investment Advisors LLC now owns 9,522 shares of the company’s stock worth $415,000 after buying an additional 352 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Squarespace by 8.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock valued at $206,000 after acquiring an additional 437 shares during the last quarter. Ellsworth Advisors LLC raised its stake in shares of Squarespace by 5.3% in the 2nd quarter. Ellsworth Advisors LLC now owns 14,370 shares of the company’s stock valued at $627,000 after acquiring an additional 719 shares in the last quarter. Diversified Trust Co lifted its holdings in Squarespace by 13.1% in the 1st quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock worth $348,000 after purchasing an additional 1,111 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Squarespace by 9.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 14,380 shares of the company’s stock worth $524,000 after purchasing an additional 1,260 shares during the period. Institutional investors own 92.30% of the company’s stock.

Squarespace Trading Down 0.0 %

Shares of SQSP stock opened at $46.41 on Wednesday. Squarespace, Inc. has a 12 month low of $26.70 and a 12 month high of $46.48. The company has a market capitalization of $6.43 billion, a P/E ratio of -928.20, a P/E/G ratio of 8.30 and a beta of 0.62. The stock has a 50 day moving average of $45.23 and a two-hundred day moving average of $42.04.

Squarespace (NYSE:SQSP) last issued its earnings results on Friday, August 2nd. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $293.12 million. During the same period in the prior year, the business posted $0.03 earnings per share. Squarespace’s revenue for the quarter was up 19.9% compared to the same quarter last year. Sell-side analysts predict that Squarespace, Inc. will post 0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at Squarespace

In other Squarespace news, CEO Anthony Casalena sold 145,182 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $46.33, for a total transaction of $6,726,282.06. Following the completion of the transaction, the chief executive officer now owns 1,349,263 shares in the company, valued at $62,511,354.79. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Squarespace news, CEO Anthony Casalena sold 145,182 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $46.33, for a total value of $6,726,282.06. Following the sale, the chief executive officer now directly owns 1,349,263 shares in the company, valued at $62,511,354.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction on Monday, August 12th. The shares were sold at an average price of $44.12, for a total value of $110,300.00. Following the transaction, the insider now directly owns 37,486 shares of the company’s stock, valued at $1,653,882.32. The disclosure for this sale can be found here. Insiders have sold a total of 319,689 shares of company stock valued at $14,457,567 over the last quarter. 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.