Principal Financial Group Inc. Purchases 8,025 Shares of Squarespace, Inc. (NYSE:SQSP)

Principal Financial Group Inc. grew its stake in Squarespace, Inc. (NYSE:SQSP) by 25.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,361 shares of the company’s stock after buying an additional 8,025 shares during the quarter. Principal Financial Group Inc.’s holdings in Squarespace were worth $1,434,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SQSP. Wellington Management Group LLP boosted its stake in Squarespace by 18.1% during the fourth quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock valued at $273,457,000 after buying an additional 1,268,698 shares during the last quarter. Vanguard Group Inc. boosted its stake in Squarespace by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company’s stock valued at $209,449,000 after buying an additional 479,712 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Squarespace by 17.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 912,135 shares of the company’s stock valued at $26,425,000 after buying an additional 134,598 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Squarespace by 23.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,018 shares of the company’s stock valued at $13,964,000 after buying an additional 81,493 shares during the last quarter. Finally, Hawk Ridge Capital Management LP bought a new position in Squarespace during the fourth quarter valued at approximately $9,648,000. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Anthony Casalena sold 60,012 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $43.52, for a total value of $2,611,722.24. Following the sale, the chief executive officer now directly owns 2,092,872 shares in the company, valued at $91,081,789.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Squarespace news, CEO Anthony Casalena sold 60,012 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $43.52, for a total transaction of $2,611,722.24. Following the transaction, the chief executive officer now owns 2,092,872 shares of the company’s stock, valued at $91,081,789.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul Gubbay sold 2,500 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $43.82, for a total transaction of $109,550.00. Following the sale, the insider now owns 42,486 shares of the company’s stock, valued at approximately $1,861,736.52. The disclosure for this sale can be found here. Insiders have sold 556,745 shares of company stock worth $22,566,625 over the last ninety days. Corporate insiders own 44.96% of the company’s stock.

Squarespace Trading Down 0.3 %

SQSP traded down $0.12 during trading hours on Friday, reaching $43.66. The company’s stock had a trading volume of 335,039 shares, compared to its average volume of 951,893. Squarespace, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $44.29. The business’s 50-day moving average is $41.94 and its 200-day moving average is $36.20.

Analyst Upgrades and Downgrades

SQSP has been the subject of several analyst reports. Mizuho raised Squarespace from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $50.00 in a research note on Friday, May 10th. Robert W. Baird restated a “neutral” rating and set a $44.00 price objective (down from $45.00) on shares of Squarespace in a report on Monday, May 13th. Barclays raised their price objective on Squarespace from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 14th. UBS Group restated a “neutral” rating and set a $44.00 price objective (up from $43.00) on shares of Squarespace in a report on Tuesday, May 14th. Finally, B. Riley downgraded Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a report on Tuesday, June 11th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.08.

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.