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

Arizona State Retirement System boosted its stake in shares of Squarespace, Inc. (NYSE:SQSP) by 18.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,780 shares of the company’s stock after buying an additional 2,352 shares during the quarter. Arizona State Retirement System’s holdings in Squarespace were worth $488,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP bought a new position in Squarespace during the second quarter valued at about $25,000. Sunbelt Securities Inc. bought a new position in Squarespace during the first quarter valued at about $26,000. Point72 Middle East FZE bought a new position in Squarespace during the fourth quarter valued at about $30,000. Neo Ivy Capital Management bought a new position in Squarespace during the second quarter valued at about $31,000. Finally, Comerica Bank bought a new position in Squarespace during the third quarter valued at about $31,000. Institutional investors own 92.30% of the company’s stock.

Insider Buying and Selling

In related news, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $36.81, for a total value of $92,025.00. Following the transaction, the insider now directly owns 43,686 shares in the company, valued at $1,608,081.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Squarespace news, Director Jonathan D. Klein sold 700 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $37.50, for a total value of $26,250.00. Following the completion of the sale, the director now directly owns 651,380 shares of the company’s stock, valued at $24,426,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $36.81, for a total transaction of $92,025.00. Following the sale, the insider now owns 43,686 shares of the company’s stock, valued at $1,608,081.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 401,032 shares of company stock worth $13,576,924. Insiders own 47.14% of the company’s stock.

Squarespace Trading Down 0.7 %

SQSP stock opened at $34.49 on Friday. The company’s 50 day moving average is $34.10 and its 200 day moving average is $31.48. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of -689.80, a price-to-earnings-growth ratio of 3.44 and a beta of 0.51. Squarespace, Inc. has a 1-year low of $25.59 and a 1-year high of $37.89.

Squarespace (NYSE:SQSP) last posted its quarterly earnings data 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 company had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) EPS. As a group, sell-side analysts forecast that Squarespace, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $40.00 price target on shares of Squarespace in a research report on Thursday, February 29th. Robert W. Baird raised shares of Squarespace from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $30.00 to $39.00 in a report on Monday, March 4th. Citigroup upped their price objective on shares of Squarespace from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Raymond James assumed coverage on shares of Squarespace in a report on Wednesday, March 27th. They set an “outperform” rating and a $40.00 price objective on the stock. Finally, B. Riley upped their price objective on shares of Squarespace from $41.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.54.

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.