Renaissance Technologies LLC Has $77.23 Million Stock Position in Squarespace, Inc. (NYSE:SQSP)

Renaissance Technologies LLC increased its stake in shares of Squarespace, Inc. (NYSE:SQSP) by 19.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,769,994 shares of the company’s stock after buying an additional 292,600 shares during the period. Renaissance Technologies LLC owned 1.29% of Squarespace worth $77,225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SQSP. CWM LLC lifted its position in Squarespace by 185.6% during the 2nd quarter. CWM LLC now owns 2,016 shares of the company’s stock worth $88,000 after buying an additional 1,310 shares in the last quarter. Quest Partners LLC lifted its position in Squarespace by 1,828.9% during the 2nd quarter. Quest Partners LLC now owns 2,739 shares of the company’s stock valued at $120,000 after purchasing an additional 2,597 shares during the period. Ameritas Investment Partners Inc. lifted its position in Squarespace by 8.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock valued at $206,000 after purchasing an additional 437 shares during the period. Diversified Trust Co lifted its position in Squarespace by 13.1% during the 1st quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock valued at $348,000 after purchasing an additional 1,111 shares during the period. Finally, ProShare Advisors LLC lifted its position in Squarespace by 21.2% during the 1st quarter. ProShare Advisors LLC now owns 10,749 shares of the company’s stock valued at $392,000 after purchasing an additional 1,880 shares during the period. Institutional investors and hedge funds own 92.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on SQSP shares. UBS Group upped their target price on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Mizuho downgraded shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research report on Monday, August 5th. 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 report on Tuesday, June 11th. Finally, Barclays upped 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, September 10th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $43.14.

Insider Buying and Selling

In related news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $46.29, for a total transaction of $115,725.00. Following the completion of the sale, the insider now directly owns 46,269 shares of the company’s stock, valued at approximately $2,141,792.01. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Anthony Casalena sold 38,466 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $45.26, for a total transaction of $1,740,971.16. Following the completion of the transaction, the chief executive officer now directly owns 1,527,820 shares of the company’s stock, 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 hyperlink. Also, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $46.29, for a total transaction of $115,725.00. Following the transaction, the insider now directly owns 46,269 shares of the company’s stock, valued at $2,141,792.01. The disclosure for this sale can be found here. In the last three months, insiders sold 234,519 shares of company stock valued at $10,343,007. 44.96% of the stock is owned by corporate insiders.

Squarespace Stock Performance

NYSE SQSP opened at $46.30 on Tuesday. The business has a 50 day simple moving average of $44.66 and a 200 day simple moving average of $40.92. Squarespace, Inc. has a 52-week low of $26.70 and a 52-week high of $46.37. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of -926.00, a PEG ratio of 8.29 and a beta of 0.62.

Squarespace (NYSE:SQSP) last posted its earnings results on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $296.80 million during the quarter, compared to analyst estimates of $293.12 million. During the same period last year, the firm posted $0.03 earnings per share. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. On average, analysts predict that Squarespace, Inc. will post 0.28 EPS for the current year.

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.