Quest Partners LLC Has $120,000 Holdings in Squarespace, Inc. (NYSE:SQSP)

Quest Partners LLC raised its stake in shares of Squarespace, Inc. (NYSE:SQSP) by 1,828.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,739 shares of the company’s stock after purchasing an additional 2,597 shares during the period. Quest Partners LLC’s holdings in Squarespace were worth $120,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SQSP. CWM LLC boosted its position in shares of Squarespace by 185.6% during the second quarter. CWM LLC now owns 2,016 shares of the company’s stock valued at $88,000 after buying an additional 1,310 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Squarespace by 8.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock worth $206,000 after acquiring an additional 437 shares during the last quarter. Diversified Trust Co grew its stake in shares of 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 acquiring an additional 1,111 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Squarespace by 21.2% in the first quarter. ProShare Advisors LLC now owns 10,749 shares of the company’s stock valued at $392,000 after purchasing an additional 1,880 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Squarespace by 3.8% during the second quarter. Nisa Investment Advisors LLC now owns 9,522 shares of the company’s stock valued at $415,000 after purchasing an additional 352 shares in the last quarter. 92.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SQSP shares. Mizuho lowered shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research note on Monday, August 5th. B. Riley downgraded Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research report on Tuesday, June 11th. Barclays boosted their price objective on Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Finally, UBS Group raised their target price on Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $43.14.

Squarespace Stock Performance

Squarespace stock opened at $46.30 on Tuesday. Squarespace, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $46.37. The stock has a market cap of $6.41 billion, a P/E ratio of -926.00, a PEG ratio of 8.29 and a beta of 0.62. The firm’s fifty day moving average price is $44.66 and its 200-day moving average price is $40.92.

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

Insider Buying and Selling

In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $43.72, for a total value of $109,300.00. Following the completion of the transaction, the insider now owns 39,986 shares of the company’s stock, valued at approximately $1,748,187.92. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Anthony Casalena sold 38,466 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $45.26, for a total transaction of $1,740,971.16. Following the transaction, the chief executive officer now directly owns 1,527,820 shares of the company’s stock, valued at approximately $69,149,133.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $43.72, for a total value of $109,300.00. Following the completion of the sale, the insider now directly owns 39,986 shares of the company’s stock, valued at approximately $1,748,187.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 234,519 shares of company stock worth $10,343,007. Insiders own 44.96% of the company’s stock.

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.