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

National Bank of Canada FI increased its position in shares of Squarespace, Inc. (NYSE:SQSP - Free Report) by 33,600.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its stake in Squarespace by 195.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company's stock worth $72,000 after acquiring an additional 1,638 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Squarespace by 3,201.0% during the 4th quarter. International Assets Investment Management LLC now owns 3,301 shares of the company's stock worth $100,000 after acquiring an additional 3,201 shares during the period. Amalgamated Bank boosted its position in shares of Squarespace by 12.4% during the 3rd quarter. Amalgamated Bank now owns 5,106 shares of the company's stock worth $148,000 after acquiring an additional 565 shares in the last quarter. Handelsbanken Fonder AB acquired a new position in Squarespace during the fourth quarter valued at approximately $244,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Squarespace during the third quarter valued at approximately $250,000. 92.30% of the stock is owned by institutional investors and hedge funds.

Squarespace Stock Down 0.1 %

NYSE SQSP traded down $0.03 on Wednesday, reaching $43.16. The company had a trading volume of 4,060,773 shares, compared to its average volume of 937,511. Squarespace, Inc. has a 52-week low of $26.70 and a 52-week high of $43.36. The stock has a market capitalization of $5.89 billion, a P/E ratio of -863.70, a P/E/G ratio of 4.96 and a beta of 0.52. The company's fifty day moving average is $35.56 and its 200 day moving average is $32.39.

Squarespace (NYSE:SQSP - Get Free Report) last posted 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 analysts' expectations of $263.41 million. The business's revenue was up 18.3% on a year-over-year basis. During the same period last year, the business posted ($0.07) EPS. On average, research analysts expect that Squarespace, Inc. will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $36.81, for a total transaction of $92,025.00. Following the completion of the transaction, the insider now directly owns 43,686 shares of the company's stock, valued at approximately $1,608,081.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $36.81, for a total value of $92,025.00. Following the completion of the sale, the insider now owns 43,686 shares of the company's stock, valued at approximately $1,608,081.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Anthony Casalena sold 67,230 shares of the company's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $31.83, for a total transaction of $2,139,930.90. Following the sale, the chief executive officer now directly owns 3,388,279 shares in the company, valued at $107,848,920.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 484,789 shares of company stock valued at $17,903,473. Insiders own 44.96% of the company's stock.

Wall Street Analyst Weigh In

SQSP has been the topic of a number of recent analyst reports. Citigroup lifted their target price on Squarespace from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Robert W. Baird reiterated a "neutral" rating and set a $44.00 price target (down from $45.00) on shares of Squarespace in a report on Monday. Piper Sandler lowered Squarespace from a "strong-buy" rating to a "hold" rating in a research report on Monday. Mizuho raised Squarespace from a "neutral" rating to a "buy" rating and lifted their price target for the company from $34.00 to $50.00 in a research note on Friday, May 10th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $45.00 price target on shares of Squarespace in a research note on Tuesday, April 30th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Squarespace has a consensus rating of "Hold" and a consensus price target of $42.08.

About Squarespace

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.