Arizona State Retirement System Raises Position in Squarespace, Inc. (NYSE:SQSP)

Arizona State Retirement System lifted its stake in shares of Squarespace, Inc. (NYSE:SQSP) by 19.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,387 shares of the company’s stock after buying an additional 2,856 shares during the quarter. Arizona State Retirement System’s holdings in Squarespace were worth $759,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Privium Fund Management UK Ltd purchased a new stake in shares of Squarespace during the second quarter valued at approximately $873,000. Rhumbline Advisers increased its stake in Squarespace by 5.5% during the 2nd quarter. Rhumbline Advisers now owns 91,117 shares of the company’s stock worth $3,975,000 after buying an additional 4,712 shares during the period. Picton Mahoney Asset Management acquired a new position in Squarespace in the 2nd quarter worth $18,164,000. Principal Financial Group Inc. boosted its position in Squarespace by 19.3% in the 2nd quarter. Principal Financial Group Inc. now owns 46,967 shares of the company’s stock valued at $2,049,000 after buying an additional 7,606 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Squarespace by 10.1% during the second quarter. Bank of New York Mellon Corp now owns 623,666 shares of the company’s stock valued at $27,211,000 after acquiring an additional 57,177 shares in the last quarter. 92.30% of the stock is owned by institutional investors and hedge funds.

Squarespace Stock Down 0.1 %

Shares of NYSE:SQSP opened at $46.26 on Friday. The firm has a 50-day simple moving average of $44.61 and a 200 day simple moving average of $40.78. Squarespace, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $46.37. The company has a market cap of $6.41 billion, a PE ratio of -925.20, a P/E/G ratio of 8.28 and a beta of 0.62.

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

Wall Street Analysts Forecast Growth

SQSP has been the topic of several recent analyst reports. UBS Group boosted their price target on Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Mizuho lowered shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a research note on Monday, August 5th. B. Riley downgraded shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research note on Tuesday, June 11th. Finally, Barclays boosted their target price on shares of Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.14.

Insider Transactions at Squarespace

In other Squarespace news, CEO Anthony Casalena sold 38,466 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $45.26, for a total transaction of $1,740,971.16. Following the transaction, the chief executive officer now owns 1,527,820 shares of the company’s stock, valued at approximately $69,149,133.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,653,882.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Anthony Casalena sold 38,466 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $45.26, for a total transaction of $1,740,971.16. Following the completion of the sale, the chief executive officer now owns 1,527,820 shares in the company, valued at $69,149,133.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 232,019 shares of company stock valued at $10,227,282. 44.96% of the stock is currently owned by corporate insiders.

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.