Squarespace, Inc. (NYSE:SQSP) Stock Position Lessened by California State Teachers Retirement System

California State Teachers Retirement System lowered its position in shares of Squarespace, Inc. (NYSE:SQSP) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,683 shares of the company’s stock after selling 1,360 shares during the quarter. California State Teachers Retirement System’s holdings in Squarespace were worth $1,229,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Squarespace by 9.6% during the third quarter. Vanguard Group Inc. now owns 4,774,485 shares of the company’s stock valued at $101,984,000 after buying an additional 419,488 shares in the last quarter. BlackRock Inc. boosted its stake in Squarespace by 8.5% during the third quarter. BlackRock Inc. now owns 2,238,381 shares of the company’s stock valued at $47,813,000 after buying an additional 175,669 shares in the last quarter. First Trust Advisors LP bought a new position in Squarespace during the first quarter valued at about $27,254,000. AlpInvest Partners B.V. boosted its stake in Squarespace by 114.7% during the first quarter. AlpInvest Partners B.V. now owns 745,360 shares of the company’s stock valued at $23,680,000 after buying an additional 398,237 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Squarespace by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 655,580 shares of the company’s stock valued at $14,534,000 after purchasing an additional 19,256 shares during the period. Institutional investors own 43.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. B. Riley assumed coverage on Squarespace in a research report on Wednesday, June 28th. They issued a “buy” rating and a $40.00 price target for the company. Royal Bank of Canada increased their price target on Squarespace from $30.00 to $32.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 9th. Credit Suisse Group increased their price target on Squarespace from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, August 10th. Piper Sandler increased their price target on Squarespace from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, August 9th. Finally, Mizuho increased their price target on Squarespace from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.08.

Squarespace Price Performance

SQSP opened at $30.16 on Friday. Squarespace, Inc. has a fifty-two week low of $16.86 and a fifty-two week high of $34.38. The business has a 50-day moving average of $30.96 and a 200-day moving average of $29.58. The company has a market capitalization of $4.09 billion, a PE ratio of -18.62 and a beta of 0.40.

Squarespace (NYSE:SQSP) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.17). Squarespace had a negative net margin of 23.60% and a negative return on equity of 2.24%. The company had revenue of $247.50 million during the quarter, compared to the consensus estimate of $243.34 million. During the same period in the previous year, the business posted $0.45 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis. On average, equities research analysts expect that Squarespace, Inc. will post 0.28 earnings per share for the current fiscal year.

Insider Activity at Squarespace

In related news, CEO Anthony Casalena sold 34,517 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $30.13, for a total value of $1,039,997.21. Following the transaction, the chief executive officer now directly owns 4,895,658 shares of the company’s stock, valued at approximately $147,506,175.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Squarespace news, CEO Anthony Casalena sold 34,517 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $30.13, for a total value of $1,039,997.21. Following the sale, the chief executive officer now owns 4,895,658 shares of the company’s stock, valued at approximately $147,506,175.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan D. Klein sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $33.60, for a total value of $1,680,000.00. Following the completion of the sale, the director now directly owns 654,133 shares in the company, valued at approximately $21,978,868.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 399,065 shares of company stock valued at $12,380,577. Corporate insiders own 47.14% of the company’s stock.

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. Its suite of integrated products 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.