Cwm LLC Grows Stock Position in Squarespace, Inc. (NYSE:SQSP)

Cwm LLC lifted its stake in Squarespace, Inc. (NYSE:SQSP) by 61.4% during the third quarter, Holdings Channel reports. The institutional investor owned 3,253 shares of the company’s stock after acquiring an additional 1,237 shares during the quarter. Cwm LLC’s holdings in Squarespace were worth $151,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Squarespace by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock valued at $244,114,000 after acquiring an additional 354,057 shares during the period. Glazer Capital LLC purchased a new position in shares of Squarespace during the 2nd quarter valued at approximately $96,206,000. Renaissance Technologies LLC lifted its stake in shares of Squarespace by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,769,994 shares of the company’s stock valued at $77,225,000 after purchasing an additional 292,600 shares during the period. Acadian Asset Management LLC boosted its holdings in Squarespace by 24.0% during the first quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock worth $59,643,000 after buying an additional 317,416 shares in the last quarter. Finally, Kodai Capital Management LP acquired a new stake in Squarespace during the first quarter valued at $36,938,000. 92.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Squarespace

In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $44.12, for a total value of $110,300.00. Following the completion of the sale, the insider now directly owns 37,486 shares of the company’s stock, valued at $1,653,882.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony Casalena sold 68,659 shares of Squarespace stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $44.18, for a total value of $3,033,354.62. Following the transaction, the chief executive officer now owns 1,698,304 shares in the company, valued at approximately $75,031,070.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,468,293 shares of company stock valued at $672,517,295. Corporate insiders own 44.96% of the company’s stock.

Squarespace Stock Performance

Shares of SQSP opened at $46.57 on Friday. The stock has a 50 day moving average price of $46.00 and a 200 day moving average price of $43.19. Squarespace, Inc. has a one year low of $26.70 and a one year high of $46.69. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of -931.40, a PEG ratio of 8.33 and a beta of 0.62.

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Barclays lifted their price target on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. William Blair reiterated a “market perform” rating on shares of Squarespace in a research report on Monday, October 14th. Finally, Mizuho cut Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research report on Monday, August 5th. Eleven equities research analysts have rated the stock with a hold rating and two 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 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.