Entropy Technologies LP Grows Stock Holdings in Squarespace, Inc. (NYSE:SQSP)

Entropy Technologies LP grew its holdings in shares of Squarespace, Inc. (NYSE:SQSP) by 57.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,782 shares of the company’s stock after purchasing an additional 13,362 shares during the quarter. Entropy Technologies LP’s holdings in Squarespace were worth $1,708,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Russell Investments Group Ltd. lifted its position in Squarespace by 5.0% during the first quarter. Russell Investments Group Ltd. now owns 253,812 shares of the company’s stock worth $9,263,000 after buying an additional 12,180 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Squarespace by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock worth $244,114,000 after acquiring an additional 354,057 shares during the period. Acadian Asset Management LLC boosted its position in shares of Squarespace by 24.0% in the first quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock worth $59,643,000 after acquiring an additional 317,416 shares during the last quarter. Glazer Capital LLC purchased a new stake in Squarespace in the second quarter valued at approximately $96,206,000. Finally, Alpine Associates Management Inc. acquired a new position in Squarespace during the second quarter worth approximately $14,428,000. Institutional investors and hedge funds own 92.30% of the company’s stock.

Squarespace Stock Performance

NYSE SQSP opened at $46.57 on Wednesday. The stock has a market cap of $6.40 billion, a P/E ratio of -931.40, a PEG ratio of 8.33 and a beta of 0.62. The company’s fifty day simple moving average is $46.40 and its 200-day simple moving average is $44.29. Squarespace, Inc. has a 52 week low of $26.70 and a 52 week high of $46.69.

Insider Buying and Selling

In other news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction dated 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 in the company, valued at $2,141,792.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 transaction, the insider now directly owns 46,269 shares in the company, valued at approximately $2,141,792.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony Casalena sold 38,466 shares of the firm’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 transaction of $1,740,971.16. Following the sale, the chief executive officer now directly owns 1,527,820 shares of the company’s stock, valued at $69,149,133.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,397,134 shares of company stock valued at $669,373,640 in the last quarter. Company insiders own 44.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SQSP. Mizuho cut shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research note on Monday, August 5th. UBS Group upped their price target on Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. William Blair reiterated a “market perform” rating on shares of Squarespace in a report on Monday, October 14th. Finally, Barclays raised their price target on shares of Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Squarespace has an average rating of “Hold” and an average target price of $43.14.

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.