State of New Jersey Common Pension Fund D Buys Shares of 42,667 Squarespace, Inc. (NYSE:SQSP)

State of New Jersey Common Pension Fund D bought a new stake in shares of Squarespace, Inc. (NYSE:SQSP) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 42,667 shares of the company’s stock, valued at approximately $1,862,000.

Other institutional investors also recently modified their holdings of the company. Brooklyn FI LLC acquired a new stake in shares of Squarespace in the 1st quarter valued at $679,000. Russell Investments Group Ltd. raised its holdings in Squarespace by 5.0% in the 1st quarter. Russell Investments Group Ltd. now owns 253,812 shares of the company’s stock worth $9,263,000 after acquiring an additional 12,180 shares during the period. UBS Group AG raised its holdings in Squarespace by 137.9% in the 4th quarter. UBS Group AG now owns 271,617 shares of the company’s stock worth $8,966,000 after acquiring an additional 157,462 shares during the period. Vanguard Group Inc. raised its holdings in Squarespace by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock worth $244,114,000 after acquiring an additional 354,057 shares during the period. Finally, Hawk Ridge Capital Management LP bought a new position in Squarespace in the 4th quarter worth $9,648,000. Institutional investors and hedge funds own 92.30% of the company’s stock.

Squarespace Price Performance

Shares of NYSE SQSP opened at $46.40 on Monday. The company’s 50 day simple moving average is $44.87 and its 200 day simple moving average is $41.26. Squarespace, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $46.48. The firm has a market capitalization of $6.38 billion, a P/E ratio of -928.00, a P/E/G ratio of 8.29 and a beta of 0.62.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on SQSP. Mizuho downgraded shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a report on Monday, August 5th. UBS Group lifted their target price on shares of Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Barclays lifted their target price on shares of Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. Finally, B. Riley downgraded shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a report on Tuesday, June 11th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $43.14.

Insider Transactions at Squarespace

In related news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $43.72, for a total transaction of $109,300.00. Following the completion of the transaction, the insider now owns 39,986 shares in the company, valued at $1,748,187.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $43.72, for a total value of $109,300.00. Following the completion of the sale, the insider now owns 39,986 shares in the company, valued at $1,748,187.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Casalena sold 59,882 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 1,975,618 shares of the company’s stock, valued at approximately $86,492,556.04. The disclosure for this sale can be found here. Insiders sold 379,701 shares of company stock valued at $17,069,289 over the last quarter. Corporate insiders own 44.96% of the company’s stock.

Squarespace Company 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.