US Bancorp DE Sells 2,629 Shares of Squarespace, Inc. (NYSE:SQSP)

US Bancorp DE decreased its stake in shares of Squarespace, Inc. (NYSE:SQSP) by 46.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,047 shares of the company’s stock after selling 2,629 shares during the quarter. US Bancorp DE’s holdings in Squarespace were worth $141,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Squarespace by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock worth $244,114,000 after buying an additional 354,057 shares during the last quarter. Glazer Capital LLC bought a new stake in shares of Squarespace in the 2nd quarter valued at about $96,206,000. Renaissance Technologies LLC lifted its stake in Squarespace by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,769,994 shares of the company’s stock valued at $77,225,000 after purchasing an additional 292,600 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Squarespace by 24.0% during the first quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock worth $59,643,000 after purchasing an additional 317,416 shares during the period. Finally, Kodai Capital Management LP acquired a new position in Squarespace during the first quarter worth approximately $36,938,000. Institutional investors own 92.30% of the company’s stock.

Insider Transactions at Squarespace

In related news, Director Andrew Braccia sold 13,929,575 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Anthony Casalena sold 38,466 shares of the business’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 transaction, the chief executive officer now owns 1,527,820 shares of the company’s stock, valued at approximately $69,149,133.20. This represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,397,134 shares of company stock valued at $669,373,640. 44.96% of the stock is owned by corporate insiders.

Squarespace Price Performance

Shares of NYSE:SQSP opened at $46.57 on Friday. The business’s 50 day simple moving average is $46.48 and its 200 day simple moving average is $44.39. Squarespace, Inc. has a 1 year low of $26.70 and a 1 year high of $46.69. The company has a market capitalization of $6.40 billion, a P/E ratio of -931.40, a P/E/G ratio of 8.33 and a beta of 0.62.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SQSP shares. UBS Group lifted their target price on Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Barclays increased their price objective 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 reaffirmed a “market perform” rating on shares of Squarespace in a report on Monday, October 14th. Finally, Mizuho cut shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a report on Monday, August 5th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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.