Principal Financial Group Inc. Acquires 7,606 Shares of Squarespace, Inc. (NYSE:SQSP)

Principal Financial Group Inc. boosted its stake in Squarespace, Inc. (NYSE:SQSP) by 19.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,967 shares of the company’s stock after purchasing an additional 7,606 shares during the period. Principal Financial Group Inc.’s holdings in Squarespace were worth $2,049,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. CWM LLC raised its position in shares of Squarespace by 185.6% in the 2nd quarter. CWM LLC now owns 2,016 shares of the company’s stock worth $88,000 after acquiring an additional 1,310 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Squarespace by 8.4% during the first quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock worth $206,000 after purchasing an additional 437 shares during the period. Diversified Trust Co increased its holdings in Squarespace by 13.1% in the first quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock worth $348,000 after purchasing an additional 1,111 shares in the last quarter. ProShare Advisors LLC increased its holdings in Squarespace by 21.2% in the first quarter. ProShare Advisors LLC now owns 10,749 shares of the company’s stock worth $392,000 after purchasing an additional 1,880 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Squarespace by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 9,522 shares of the company’s stock valued at $415,000 after buying an additional 352 shares during the period. 92.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Anthony Casalena sold 38,466 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $45.26, for a total value of $1,740,971.16. Following the transaction, the chief executive officer now owns 1,527,820 shares in the company, valued at approximately $69,149,133.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $43.72, for a total transaction of $109,300.00. Following the completion of the sale, the insider now owns 39,986 shares in the company, valued at approximately $1,748,187.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anthony Casalena sold 38,466 shares of Squarespace stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $45.26, for a total transaction of $1,740,971.16. Following the completion of the sale, the chief executive officer now directly owns 1,527,820 shares in the company, valued at approximately $69,149,133.20. The disclosure for this sale can be found here. Insiders have sold a total of 232,019 shares of company stock valued at $10,227,282 in the last 90 days. 44.96% of the stock is currently owned by corporate insiders.

Squarespace Trading Up 0.1 %

NYSE SQSP opened at $46.30 on Friday. The business has a fifty day simple moving average of $44.56 and a 200 day simple moving average of $40.64. Squarespace, Inc. has a 12 month low of $26.70 and a 12 month high of $46.37. The firm has a market capitalization of $6.41 billion, a P/E ratio of -925.90, a PEG ratio of 8.11 and a beta of 0.62.

Squarespace (NYSE:SQSP) last announced its 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 for the quarter, compared to the consensus estimate of $293.12 million. During the same period in the prior year, the company posted $0.03 EPS. Squarespace’s revenue was up 19.9% compared to the same quarter last year. As a group, sell-side analysts predict that Squarespace, Inc. will post 0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays boosted 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. Mizuho lowered shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a report on Monday, August 5th. UBS Group increased their price objective on shares of Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, B. Riley lowered Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a research report on Tuesday, June 11th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.14.

About Squarespace

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.