State Board of Administration of Florida Retirement System Purchases New Stake in Squarespace, Inc. (NYSE:SQSP)

State Board of Administration of Florida Retirement System acquired a new position in shares of Squarespace, Inc. (NYSE:SQSPGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 14,380 shares of the company’s stock, valued at approximately $301,000.

Several other large investors have also recently added to or reduced their stakes in SQSP. FDx Advisors Inc. acquired a new stake in shares of Squarespace during the 1st quarter worth $399,000. Hawk Ridge Capital Management LP acquired a new stake in shares of Squarespace during the 1st quarter worth $3,187,000. Riverbridge Partners LLC grew its holdings in shares of Squarespace by 8.7% during the 2nd quarter. Riverbridge Partners LLC now owns 2,527,330 shares of the company’s stock worth $52,872,000 after purchasing an additional 202,516 shares in the last quarter. HighTower Advisors LLC boosted its stake in Squarespace by 1.3% in the first quarter. HighTower Advisors LLC now owns 625,199 shares of the company’s stock valued at $16,024,000 after buying an additional 8,063 shares in the last quarter. Finally, HarbourVest Partners LLC acquired a new stake in Squarespace in the first quarter valued at about $3,703,000. Institutional investors own 41.20% of the company’s stock.

Squarespace Stock Performance

Shares of SQSP opened at $20.83 on Tuesday. Squarespace, Inc. has a 1 year low of $14.43 and a 1 year high of $37.49. The business has a 50-day moving average of $21.47 and a 200-day moving average of $21.25.

Insiders Place Their Bets

In other Squarespace news, major shareholder Ventures Growth I. Parall Index sold 63,029 shares of Squarespace stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $21.98, for a total value of $1,385,377.42. Following the completion of the sale, the insider now directly owns 452,368 shares in the company, valued at $9,943,048.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Ventures Growth I. Parall Index sold 40,609 shares of the business’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $22.54, for a total transaction of $915,326.86. Following the completion of the sale, the insider now owns 411,759 shares in the company, valued at $9,281,047.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Ventures Growth I. Parall Index sold 63,029 shares of Squarespace stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $21.98, for a total value of $1,385,377.42. Following the transaction, the insider now directly owns 452,368 shares in the company, valued at approximately $9,943,048.64. The disclosure for this sale can be found here. 45.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. KeyCorp reduced their price objective on Squarespace from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 9th. Truist Financial reduced their price objective on Squarespace to $31.00 in a research note on Tuesday, July 26th. Piper Sandler raised Squarespace from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $22.00 to $30.00 in a research note on Monday. Oppenheimer assumed coverage on Squarespace in a research note on Tuesday, July 26th. They issued a “market perform” rating on the stock. Finally, Credit Suisse Group cut their price target on Squarespace from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 9th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.75.

Squarespace Company Profile

(Get Rating)

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, and scheduling, as well as tools for managing a social media presence.

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Institutional Ownership by Quarter for Squarespace (NYSE:SQSP)

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