Harbor Capital Advisors Inc. Boosts Stake in Squarespace, Inc. (NYSE:SQSP)

Harbor Capital Advisors Inc. increased its stake in Squarespace, Inc. (NYSE:SQSP) by 16.4% in the 3rd quarter, Holdings Channel reports. The fund owned 10,317 shares of the company’s stock after buying an additional 1,456 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Squarespace were worth $479,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Squarespace during the second quarter worth about $71,000. CWM LLC raised its holdings in shares of Squarespace by 185.6% during the 2nd quarter. CWM LLC now owns 2,016 shares of the company’s stock valued at $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% in the 2nd quarter. Quest Partners LLC now owns 2,739 shares of the company’s stock worth $120,000 after buying an additional 2,597 shares during the last quarter. Sagefield Capital LP purchased a new stake in Squarespace in the second quarter worth approximately $197,000. Finally, Ameritas Investment Partners Inc. grew its position in Squarespace by 8.4% during the first quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock valued at $206,000 after acquiring an additional 437 shares during the last quarter. Institutional investors own 92.30% of the company’s stock.

Insider Buying and Selling

In other Squarespace news, 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Anthony Casalena sold 92,511 shares of Squarespace stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.51, for a total transaction of $4,302,686.61. Following the sale, the chief executive officer now directly owns 880,909 shares in the company, valued at $40,971,077.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew Braccia sold 13,929,575 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $46.50, for a total value of $647,725,237.50. The disclosure for this sale can be found here. Insiders sold 14,399,634 shares of company stock valued at $669,483,940 over the last quarter. 44.96% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SQSP shares. UBS Group upped their price objective on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. 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 report on Monday, August 5th. William Blair reiterated a “market perform” rating on shares of Squarespace in a report on Monday, October 14th. Finally, Barclays increased their target price on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $43.14.

Squarespace Stock Performance

SQSP opened at $46.57 on Friday. The stock 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 stock’s 50 day moving average price is $46.31 and its 200-day moving average price is $43.92. Squarespace, Inc. has a 52-week low of $26.70 and a 52-week high of $46.69.

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.