ProShare Advisors LLC Boosts Stock Position in Squarespace, Inc. (NYSE:SQSP)

ProShare Advisors LLC increased its stake in Squarespace, Inc. (NYSE:SQSP) by 23.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,260 shares of the company’s stock after purchasing an additional 2,511 shares during the quarter. ProShare Advisors LLC’s holdings in Squarespace were worth $579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SQSP. Public Employees Retirement Association of Colorado bought a new position in shares of Squarespace in the second quarter valued at approximately $266,000. Renaissance Technologies LLC boosted its holdings in Squarespace by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,769,994 shares of the company’s stock valued at $77,225,000 after purchasing an additional 292,600 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Squarespace by 153.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 64,450 shares of the company’s stock valued at $2,812,000 after purchasing an additional 39,004 shares in the last quarter. Alpine Associates Management Inc. bought a new position in shares of Squarespace in the second quarter worth $14,428,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Squarespace in the second quarter worth $1,862,000. 92.30% of the stock is currently owned by institutional investors.

Insider Activity at Squarespace

In other Squarespace news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $43.72, for a total value of $109,300.00. Following the transaction, the insider now directly owns 39,986 shares of the company’s stock, valued at approximately $1,748,187.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Anthony Casalena sold 68,659 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $44.18, for a total transaction of $3,033,354.62. Following the completion of the sale, the chief executive officer now directly owns 1,698,304 shares in the company, valued at $75,031,070.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $43.72, for a total value of $109,300.00. Following the completion of the sale, the insider now directly owns 39,986 shares in the company, valued at $1,748,187.92. The disclosure for this sale can be found here. Insiders sold 319,689 shares of company stock worth $14,457,567 in the last ninety days. 44.96% of the stock is owned by company insiders.

Squarespace Stock Performance

Shares of Squarespace stock opened at $46.38 on Monday. Squarespace, Inc. has a 52-week low of $26.70 and a 52-week high of $46.48. The company has a fifty day moving average of $45.13 and a 200-day moving average of $41.84. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of -927.60, a price-to-earnings-growth ratio of 8.30 and a beta of 0.62.

Squarespace (NYSE:SQSP) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $296.80 million for the quarter, compared to analyst estimates of $293.12 million. During the same period last year, the firm posted $0.03 EPS. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, 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 equities analysts recently commented on SQSP shares. Barclays boosted their target price on Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. UBS Group boosted their price objective on Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. B. Riley downgraded shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Tuesday, June 11th. Finally, Mizuho cut shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a research note on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Squarespace presently has a consensus rating of “Hold” and an average price target of $43.14.

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.