Mackenzie Financial Corp Has $1.31 Million Stake in Squarespace, Inc. (NYSE:SQSP)

Mackenzie Financial Corp trimmed its holdings in Squarespace, Inc. (NYSE:SQSP) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,681 shares of the company’s stock after selling 4,589 shares during the period. Mackenzie Financial Corp’s holdings in Squarespace were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in Squarespace by 124.8% during the third quarter. Wellington Management Group LLP now owns 7,015,353 shares of the company’s stock valued at $203,235,000 after purchasing an additional 3,894,084 shares in the last quarter. Vanguard Group Inc. raised its position in Squarespace by 20.4% during the third quarter. Vanguard Group Inc. now owns 5,865,295 shares of the company’s stock valued at $169,918,000 after purchasing an additional 994,880 shares in the last quarter. Acadian Asset Management LLC raised its position in Squarespace by 2.7% during the third quarter. Acadian Asset Management LLC now owns 1,191,871 shares of the company’s stock valued at $34,508,000 after purchasing an additional 31,448 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Squarespace by 17.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 912,135 shares of the company’s stock valued at $26,425,000 after purchasing an additional 134,598 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Squarespace by 32.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,091 shares of the company’s stock valued at $15,183,000 after purchasing an additional 127,362 shares in the last quarter. 92.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Anthony Casalena sold 45,389 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $35.57, for a total value of $1,614,486.73. Following the sale, the chief executive officer now owns 2,877,107 shares in the company, valued at approximately $102,338,695.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Anthony Casalena sold 45,389 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $35.57, for a total value of $1,614,486.73. Following the sale, the chief executive officer now owns 2,877,107 shares in the company, valued at approximately $102,338,695.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan D. Klein sold 47,247 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $37.65, for a total transaction of $1,778,849.55. Following the completion of the sale, the director now directly owns 604,133 shares of the company’s stock, valued at $22,745,607.45. The disclosure for this sale can be found here. Insiders have sold 401,032 shares of company stock worth $13,576,924 in the last quarter. Insiders own 47.14% of the company’s stock.

Squarespace Stock Down 1.7 %

Shares of SQSP opened at $35.69 on Thursday. The firm’s fifty day simple moving average is $34.30 and its two-hundred day simple moving average is $31.64. Squarespace, Inc. has a 12 month low of $25.59 and a 12 month high of $37.89.

Squarespace (NYSE:SQSP) last posted its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The company had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. During the same quarter in the previous year, the company earned ($0.07) EPS. Squarespace’s revenue was up 18.3% compared to the same quarter last year. On average, equities research analysts predict that Squarespace, Inc. will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on SQSP shares. Royal Bank of Canada boosted their price objective on shares of Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. B. Riley boosted their target price on shares of Squarespace from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Raymond James assumed coverage on shares of Squarespace in a research note on Wednesday, March 27th. They set an “outperform” rating and a $40.00 target price on the stock. Robert W. Baird raised shares of Squarespace from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $30.00 to $39.00 in a research note on Monday, March 4th. Finally, Citigroup boosted their target price on shares of Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Squarespace presently has an average rating of “Moderate Buy” and an average price target of $38.54.

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.