Seven Eight Capital LP Purchases 15,330 Shares of Squarespace, Inc. (NYSE:SQSP)

Seven Eight Capital LP increased its position in shares of Squarespace, Inc. (NYSE:SQSP) by 160.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,881 shares of the company’s stock after buying an additional 15,330 shares during the period. Seven Eight Capital LP’s holdings in Squarespace were worth $907,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SQSP. International Assets Investment Management LLC raised its stake in Squarespace by 3,201.0% during the fourth quarter. International Assets Investment Management LLC now owns 3,301 shares of the company’s stock worth $100,000 after buying an additional 3,201 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake 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 in the last quarter. Handelsbanken Fonder AB bought a new stake in Squarespace in the fourth quarter valued at $244,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Squarespace by 6.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,658 shares of the company’s stock valued at $319,000 after purchasing an additional 572 shares in the last quarter. Finally, Diversified Trust Co increased its stake 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 in the last quarter. Institutional investors own 92.30% of the company’s stock.

Insider Buying and Selling

In related news, CEO Anthony Casalena sold 59,882 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.78, for a total transaction of $2,621,633.96. Following the transaction, the chief executive officer now directly owns 1,975,618 shares in the company, valued at $86,492,556.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Squarespace news, CFO Nathan Gooden sold 7,916 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $43.49, for a total value of $344,266.84. Following the transaction, the chief financial officer now directly owns 69,293 shares in the company, valued at $3,013,552.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony Casalena sold 59,882 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.78, for a total transaction of $2,621,633.96. Following the completion of the transaction, the chief executive officer now owns 1,975,618 shares in the company, valued at $86,492,556.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 523,291 shares of company stock worth $21,785,947. 44.96% of the stock is owned by insiders.

Squarespace Stock Up 0.1 %

Squarespace stock traded up $0.03 during midday trading on Tuesday, hitting $43.98. 1,871,430 shares of the stock were exchanged, compared to its average volume of 951,934. Squarespace, Inc. has a 52-week low of $26.70 and a 52-week high of $44.29. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of -879.60, a price-to-earnings-growth ratio of 5.03 and a beta of 0.62. The business’s 50-day moving average price is $43.70 and its 200-day moving average price is $37.39.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of Squarespace in a research note on Wednesday, May 8th. B. Riley downgraded shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Tuesday, June 11th. Barclays lifted their price target on shares of Squarespace from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. Baird R W downgraded shares of Squarespace from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 13th. Finally, Mizuho upgraded shares of Squarespace from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $50.00 in a report on Friday, May 10th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Squarespace has an average 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.