LMR Partners LLP Invests $5.29 Million in Squarespace, Inc. (NYSE:SQSP)

LMR Partners LLP purchased a new position in Squarespace, Inc. (NYSE:SQSP) during the third quarter, Holdings Channel reports. The fund purchased 114,000 shares of the company’s stock, valued at approximately $5,293,000.

A number of other institutional investors have also recently made changes to their positions in SQSP. Vanguard Group Inc. lifted its position in shares of Squarespace by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock worth $244,114,000 after purchasing an additional 354,057 shares during the period. Glazer Capital LLC purchased a new stake in shares of Squarespace in the 2nd quarter worth about $96,206,000. Alpine Associates Management Inc. purchased a new stake in shares of Squarespace in the 2nd quarter worth about $14,428,000. Renaissance Technologies LLC lifted its position in shares of Squarespace by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,769,994 shares of the company’s stock worth $77,225,000 after purchasing an additional 292,600 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new position in Squarespace during the 2nd quarter valued at about $1,862,000. Institutional investors own 92.30% of the company’s stock.

Squarespace Stock Performance

SQSP stock opened at $46.57 on Tuesday. The company has a market capitalization of $6.40 billion, a PE ratio of -931.40, a price-to-earnings-growth ratio of 8.33 and a beta of 0.62. The company’s fifty day moving average price is $46.49 and its 200-day moving average price is $44.62. Squarespace, Inc. has a one year low of $26.70 and a one year high of $46.69.

Insider Activity at Squarespace

In related news, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $46.29, for a total transaction of $115,725.00. Following the sale, the insider now owns 46,269 shares of the company’s stock, valued at $2,141,792.01. This represents a 5.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew Braccia sold 13,929,575 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $46.50, for a total transaction of $647,725,237.50. The disclosure for this sale can be found here. Insiders have sold a total of 14,397,134 shares of company stock valued at $669,373,640 over the last 90 days. 44.96% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SQSP has been the subject of a number of recent research reports. Barclays lifted their price target 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. William Blair reiterated a “market perform” rating on shares of Squarespace in a research note on Monday, October 14th. Mizuho lowered 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. Finally, UBS Group boosted 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. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.