Public Employees Retirement Association of Colorado Purchases New Position in Squarespace, Inc. (NYSE:SQSP)

Public Employees Retirement Association of Colorado purchased a new position in Squarespace, Inc. (NYSE:SQSP) in the second quarter, Holdings Channel reports. The fund purchased 6,100 shares of the company’s stock, valued at approximately $266,000.

A number of other hedge funds also recently bought and sold shares of SQSP. Wellington Management Group LLP grew its position in shares of Squarespace by 18.1% in the fourth quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock valued at $273,457,000 after purchasing an additional 1,268,698 shares during the period. Kodai Capital Management LP acquired a new stake in Squarespace in the 1st quarter worth about $36,938,000. Vanguard Group Inc. increased its stake in Squarespace by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company’s stock worth $209,449,000 after buying an additional 479,712 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Squarespace during the second quarter valued at approximately $18,164,000. Finally, Alpine Associates Management Inc. purchased a new position in shares of Squarespace in the second quarter valued at approximately $14,428,000. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Squarespace Stock Performance

SQSP opened at $46.38 on Friday. The stock has a market capitalization of $6.42 billion, a PE ratio of -927.60, a P/E/G ratio of 8.30 and a beta of 0.62. Squarespace, Inc. has a one year low of $26.70 and a one year high of $46.48. The business’s 50 day moving average price is $45.13 and its 200 day moving average price is $41.77.

Squarespace (NYSE:SQSP) last announced its quarterly 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 analyst estimates of $293.12 million. The firm’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 earnings per share. As a group, equities research analysts forecast that Squarespace, Inc. will post 0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Squarespace

In other news, CEO Anthony Casalena sold 145,182 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $46.33, for a total value of $6,726,282.06. Following the sale, the chief executive officer now directly owns 1,349,263 shares of the company’s stock, valued at approximately $62,511,354.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Anthony Casalena sold 145,182 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $46.33, for a total transaction of $6,726,282.06. Following the completion of the transaction, the chief executive officer now directly owns 1,349,263 shares in the company, valued at $62,511,354.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $46.29, for a total value of $115,725.00. Following the completion of the sale, the insider now owns 46,269 shares in the company, valued at approximately $2,141,792.01. The disclosure for this sale can be found here. Insiders have sold 379,701 shares of company stock valued at $17,069,289 over the last 90 days. 44.96% of the stock is owned by insiders.

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.