ProShare Advisors LLC Acquires 2,511 Shares of Squarespace, Inc. (NYSE:SQSP)

ProShare Advisors LLC lifted its stake in Squarespace, Inc. (NYSE:SQSP) by 23.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,260 shares of the company’s stock after buying an additional 2,511 shares during the period. ProShare Advisors LLC’s holdings in Squarespace were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in Squarespace by 33.2% during the fourth quarter. Principal Financial Group Inc. now owns 31,336 shares of the company’s stock worth $1,034,000 after purchasing an additional 7,808 shares during the period. UBS Group AG boosted its position in shares of Squarespace by 137.9% during 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 in the last quarter. US Bancorp DE boosted its position in shares of Squarespace by 33.8% during the 4th quarter. US Bancorp DE now owns 18,486 shares of the company’s stock worth $610,000 after acquiring an additional 4,665 shares in the last quarter. Hawk Ridge Capital Management LP bought a new position in Squarespace in the fourth quarter valued at approximately $9,648,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in Squarespace by 7.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 56,955 shares of the company’s stock valued at $1,880,000 after purchasing an additional 3,961 shares in the last quarter. Institutional investors and hedge funds own 92.30% of the company’s stock.

Squarespace Stock Performance

Squarespace stock opened at $46.38 on Monday. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of -927.60, a PEG ratio of 8.30 and a beta of 0.62. Squarespace, Inc. has a 52-week low of $26.70 and a 52-week high of $46.48. The stock’s 50 day moving average price is $45.13 and its two-hundred day moving average price is $41.84.

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 firm had revenue of $296.80 million during the quarter, compared to the consensus estimate of $293.12 million. Squarespace’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. On average, equities research analysts forecast that Squarespace, Inc. will post 0.28 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on SQSP shares. Mizuho downgraded Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price for the company. in a research note on Monday, August 5th. UBS Group upped their price objective on shares of Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. B. Riley lowered shares of 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. Finally, Barclays upped their price target 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. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Squarespace presently has an average rating of “Hold” and a consensus price target of $43.14.

Insider Activity

In other news, CEO Anthony Casalena sold 59,882 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.78, for a total value of $2,621,633.96. Following the completion of the sale, the chief executive officer now directly owns 1,975,618 shares of the company’s stock, valued at $86,492,556.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Anthony Casalena sold 59,882 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.78, for a total value of $2,621,633.96. Following the completion of the sale, the chief executive officer now owns 1,975,618 shares in the company, valued at approximately $86,492,556.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the insider now directly owns 37,486 shares in the company, valued at $1,653,882.32. The disclosure for this sale can be found here. Insiders sold 319,689 shares of company stock worth $14,457,567 over the last three months. 44.96% of the stock is currently owned by 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.