Renaissance Technologies LLC Acquires 292,600 Shares of Squarespace, Inc. (NYSE:SQSP)

Renaissance Technologies LLC raised its holdings in shares of Squarespace, Inc. (NYSE:SQSP) by 19.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,769,994 shares of the company’s stock after buying an additional 292,600 shares during the period. Renaissance Technologies LLC’s holdings in Squarespace were worth $77,225,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Squarespace by 153.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 64,450 shares of the company’s stock valued at $2,812,000 after buying an additional 39,004 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in shares of Squarespace in the 2nd quarter valued at approximately $14,428,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Squarespace in the 2nd quarter valued at approximately $1,862,000. Quest Partners LLC boosted its holdings in shares of Squarespace by 1,828.9% in the 2nd quarter. Quest Partners LLC now owns 2,739 shares of the company’s stock valued at $120,000 after buying an additional 2,597 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Squarespace by 19.7% in the 2nd quarter. Arizona State Retirement System now owns 17,387 shares of the company’s stock valued at $759,000 after buying an additional 2,856 shares during the last quarter. Institutional investors and hedge funds own 92.30% of the company’s stock.

Squarespace Price Performance

Shares of Squarespace stock opened at $46.30 on Tuesday. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -926.00, a P/E/G ratio of 8.29 and a beta of 0.62. The business has a fifty day simple moving average of $44.66 and a two-hundred day simple moving average of $40.92. Squarespace, Inc. has a 1 year low of $26.70 and a 1 year high of $46.37.

Squarespace (NYSE:SQSP) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $293.12 million. Squarespace’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. As a group, equities analysts anticipate that Squarespace, Inc. will post 0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $43.72, for a total transaction of $109,300.00. Following the transaction, the insider now owns 39,986 shares in the company, valued at approximately $1,748,187.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $43.72, for a total transaction of $109,300.00. Following the transaction, the insider now owns 39,986 shares in the company, valued at approximately $1,748,187.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anthony Casalena sold 59,882 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.78, for a total value of $2,621,633.96. Following the completion of the transaction, the chief executive officer now owns 1,975,618 shares in the company, valued at approximately $86,492,556.04. The disclosure for this sale can be found here. Insiders have sold 234,519 shares of company stock worth $10,343,007 in the last 90 days. Company insiders own 44.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SQSP. Mizuho downgraded Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a report on Monday, August 5th. B. Riley downgraded Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a report on Tuesday, June 11th. Barclays increased their price objective on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. Finally, UBS Group raised their price target on Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.