Riverbridge Partners LLC Has $69.23 Million Position in Squarespace, Inc. (NYSE:SQSP)

Riverbridge Partners LLC reduced its position in shares of Squarespace, Inc. (NYSE:SQSP - Free Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,097,142 shares of the company's stock after selling 39,889 shares during the period. Riverbridge Partners LLC owned about 1.54% of Squarespace worth $69,227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Amalgamated Bank boosted its position in Squarespace by 12.4% during the third quarter. Amalgamated Bank now owns 5,106 shares of the company's stock valued at $148,000 after purchasing an additional 565 shares during the last quarter. Rhumbline Advisers boosted its position in Squarespace by 1.3% during the first quarter. Rhumbline Advisers now owns 48,519 shares of the company's stock valued at $1,541,000 after purchasing an additional 604 shares during the last quarter. Invesco Ltd. boosted its position in Squarespace by 1.5% during the third quarter. Invesco Ltd. now owns 43,278 shares of the company's stock valued at $1,254,000 after purchasing an additional 625 shares during the last quarter. Quarry LP acquired a new position in Squarespace during the second quarter valued at approximately $25,000. Finally, Sunbelt Securities Inc. acquired a new position in Squarespace during the first quarter valued at approximately $26,000. 92.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Citigroup increased their price target on Squarespace from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Royal Bank of Canada upped their price objective on Squarespace from $32.00 to $35.00 and gave the company a "sector perform" rating in a research note on Thursday, February 29th. Piper Sandler restated an "overweight" rating and issued a $40.00 price objective on shares of Squarespace in a research note on Thursday, February 29th. Barclays upped their price objective on Squarespace from $34.00 to $37.00 and gave the company an "equal weight" rating in a research note on Thursday, February 29th. Finally, B. Riley upped their price objective on Squarespace from $41.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.54.

Insider Buying and Selling at Squarespace

In other news, CEO Anthony Casalena sold 43,539 shares of Squarespace stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $31.64, for a total value of $1,377,573.96. Following the transaction, the chief executive officer now owns 3,648,251 shares in the company, valued at approximately $115,430,661.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Nathan Gooden sold 5,129 shares of the business's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $31.85, for a total transaction of $163,358.65. Following the sale, the chief financial officer now owns 66,503 shares in the company, valued at approximately $2,118,120.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony Casalena sold 43,539 shares of the business's stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $31.64, for a total value of $1,377,573.96. Following the sale, the chief executive officer now owns 3,648,251 shares in the company, valued at approximately $115,430,661.64. The disclosure for this sale can be found here. Insiders sold 383,031 shares of company stock valued at $12,533,024 in the last three months. Corporate insiders own 47.14% of the company's stock.

Squarespace Trading Down 0.7 %

NYSE SQSP traded down $0.24 during midday trading on Thursday, hitting $36.39. The company had a trading volume of 609,762 shares, compared to its average volume of 747,442. The company has a market capitalization of $4.97 billion, a PE ratio of -727.80, a P/E/G ratio of 3.57 and a beta of 0.51. The firm has a 50-day moving average price of $33.13 and a 200-day moving average price of $30.92. Squarespace, Inc. has a twelve month low of $25.59 and a twelve month high of $37.59.

Squarespace (NYSE:SQSP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.12). The business had revenue of $270.72 million during the quarter, compared to analysts' expectations of $263.41 million. Squarespace's quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) earnings per share. On average, equities analysts anticipate that Squarespace, Inc. will post 0.5 EPS 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.

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