Arizona State Retirement System Purchases 2,352 Shares of Squarespace, Inc. (NYSE:SQSP)

Arizona State Retirement System raised its position in Squarespace, Inc. (NYSE:SQSP) by 18.9% during the fourth quarter, Holdings Channel reports. The fund owned 14,780 shares of the company’s stock after acquiring an additional 2,352 shares during the period. Arizona State Retirement System’s holdings in Squarespace were worth $488,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Squarespace by 124.8% in the third quarter. Wellington Management Group LLP now owns 7,015,353 shares of the company’s stock worth $203,235,000 after buying an additional 3,894,084 shares during the period. Vanguard Group Inc. raised its stake in shares of Squarespace by 56.3% in the first quarter. Vanguard Group Inc. now owns 3,645,279 shares of the company’s stock worth $93,392,000 after buying an additional 1,313,755 shares during the period. First Trust Advisors LP bought a new position in shares of Squarespace in the first quarter worth about $27,254,000. BlackRock Inc. raised its stake in shares of Squarespace by 38.7% in the second quarter. BlackRock Inc. now owns 3,427,924 shares of the company’s stock worth $108,117,000 after buying an additional 956,920 shares during the period. Finally, Two Sigma Advisers LP raised its stake in shares of Squarespace by 1,608.1% in the first quarter. Two Sigma Advisers LP now owns 526,100 shares of the company’s stock worth $16,714,000 after buying an additional 495,300 shares during the period. Institutional investors own 92.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SQSP. Barclays raised their price objective on Squarespace from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Robert W. Baird raised Squarespace from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $30.00 to $39.00 in a research note on Monday, March 4th. JMP Securities lifted their target price on Squarespace from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Mizuho lifted their target price on Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada lifted their target price on Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.54.

Squarespace Price Performance

NYSE SQSP opened at $34.49 on Friday. The stock has a market capitalization of $4.71 billion, a PE ratio of -689.80, a P/E/G ratio of 3.44 and a beta of 0.51. The business has a 50 day simple moving average of $34.10 and a two-hundred day simple moving average of $31.48. Squarespace, Inc. has a 1-year low of $25.59 and a 1-year high of $37.89.

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

Insider Transactions at Squarespace

In other news, CEO Anthony Casalena sold 67,230 shares of Squarespace stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $31.83, for a total value of $2,139,930.90. Following the completion of the transaction, the chief executive officer now owns 3,388,279 shares in the company, valued at approximately $107,848,920.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Anthony Casalena sold 67,230 shares of Squarespace stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $31.83, for a total value of $2,139,930.90. Following the completion of the transaction, the chief executive officer now owns 3,388,279 shares in the company, valued at approximately $107,848,920.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $36.81, for a total value of $92,025.00. Following the completion of the transaction, the insider now owns 43,686 shares of the company’s stock, valued at approximately $1,608,081.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 401,032 shares of company stock worth $13,576,924. 47.14% of the stock is currently owned by company 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.