Alpine Associates Management Inc. Takes Position in Squarespace, Inc. (NYSE:SQSP)

Alpine Associates Management Inc. purchased a new stake in shares of Squarespace, Inc. (NYSE:SQSP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 330,700 shares of the company’s stock, valued at approximately $14,428,000. Alpine Associates Management Inc. owned 0.24% of Squarespace as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC raised its position in shares of Squarespace by 185.6% during the 2nd 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 period. Quest Partners LLC raised its position 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 purchasing an additional 2,597 shares during the period. Ameritas Investment Partners Inc. raised its position in Squarespace by 8.4% in the first quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock valued at $206,000 after purchasing an additional 437 shares during the period. Diversified Trust Co raised its position in Squarespace by 13.1% in the first quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock valued at $348,000 after purchasing an additional 1,111 shares during the period. Finally, ProShare Advisors LLC raised its position in 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 period. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Squarespace Trading Down 0.1 %

Shares of SQSP stock opened at $46.26 on Monday. The firm has a fifty day moving average price of $44.61 and a 200 day moving average price of $40.83. The company has a market cap of $6.41 billion, a P/E ratio of -925.20, a PEG ratio of 8.29 and a beta of 0.62. Squarespace, Inc. has a 12 month low of $26.70 and a 12 month high of $46.37.

Squarespace (NYSE:SQSP) last issued 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 company had revenue of $296.80 million for the quarter, compared to analysts’ expectations of $293.12 million. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. On average, equities analysts forecast that Squarespace, Inc. will post 0.28 EPS for the current year.

Insider Buying and Selling

In related news, CEO Anthony Casalena sold 60,012 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $43.52, for a total transaction of $2,611,722.24. Following the completion of the transaction, the chief executive officer now owns 2,092,872 shares in the company, valued at $91,081,789.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Squarespace news, CEO Anthony Casalena sold 60,012 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $43.52, for a total value of $2,611,722.24. Following the completion of the transaction, the chief executive officer now owns 2,092,872 shares in the company, valued at $91,081,789.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $44.12, for a total transaction of $110,300.00. Following the completion of the transaction, the insider now owns 37,486 shares of the company’s stock, valued at approximately $1,653,882.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 232,019 shares of company stock worth $10,227,282. Corporate insiders own 44.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SQSP. B. Riley lowered Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research report on Tuesday, June 11th. Mizuho lowered Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research report on Monday, August 5th. Barclays boosted their target price on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Finally, UBS Group upped their price objective on Squarespace from $44.00 to $46.50 and gave the stock 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 given a buy rating to the company. According to data from MarketBeat.com, Squarespace presently has a consensus rating of “Hold” and a consensus price target of $43.14.

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.