Gabelli Funds LLC Makes New $12.88 Million Investment in Squarespace, Inc. (NYSE:SQSP)

Gabelli Funds LLC bought a new position in shares of Squarespace, Inc. (NYSE:SQSP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 295,087 shares of the company’s stock, valued at approximately $12,875,000. Gabelli Funds LLC owned about 0.21% of Squarespace as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SQSP. CWM LLC raised its holdings in shares of Squarespace by 185.6% in the 2nd quarter. CWM LLC now owns 2,016 shares of the company’s stock worth $88,000 after purchasing an additional 1,310 shares during the period. Quest Partners LLC increased its stake in Squarespace by 1,828.9% in the second quarter. Quest Partners LLC now owns 2,739 shares of the company’s stock valued at $120,000 after acquiring an additional 2,597 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Squarespace by 8.4% during the first quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock worth $206,000 after acquiring an additional 437 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Squarespace in the second quarter worth about $266,000. Finally, Diversified Trust Co increased its stake 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 period. 92.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Squarespace Stock Down 0.1 %

Shares of SQSP opened at $46.38 on Tuesday. Squarespace, Inc. has a twelve month low of $26.70 and a twelve month high of $46.48. The company has a market capitalization of $6.38 billion, a P/E ratio of -927.50, a price-to-earnings-growth ratio of 8.29 and a beta of 0.62. The firm has a 50 day moving average of $44.93 and a 200 day moving average of $41.43.

Squarespace (NYSE:SQSP) last posted its earnings results on Friday, August 2nd. The company reported $0.04 EPS 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. During the same period last year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was up 19.9% on a year-over-year basis. On average, sell-side analysts expect that Squarespace, Inc. will post 0.28 EPS for the current year.

Insider Buying and Selling

In other Squarespace news, CEO Anthony Casalena sold 145,182 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 1,349,263 shares of the company’s stock, valued at approximately $62,511,354.79. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Anthony Casalena sold 145,182 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 owns 1,349,263 shares in the company, valued at $62,511,354.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $43.72, for a total transaction of $109,300.00. Following the sale, the insider now owns 39,986 shares of the company’s stock, valued at $1,748,187.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 379,701 shares of company stock worth $17,069,289. 44.96% of the stock is owned by corporate insiders.

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.