Jonathan D. Klein Sells 47,247 Shares of Squarespace, Inc. (NYSE:SQSP) Stock

Squarespace, Inc. (NYSE:SQSP - Get Free Report) Director Jonathan D. Klein sold 47,247 shares of Squarespace stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $37.65, for a total transaction of $1,778,849.55. Following the completion of the transaction, the director now owns 604,133 shares in the company, valued at approximately $22,745,607.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Squarespace Stock Down 3.2 %

Shares of SQSP traded down $1.20 during midday trading on Friday, hitting $36.59. The company had a trading volume of 501,128 shares, compared to its average volume of 724,640. The company's 50 day moving average price is $33.77 and its 200 day moving average price is $31.27. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of -731.80, a PEG ratio of 3.69 and a beta of 0.51. Squarespace, Inc. has a 52 week low of $25.59 and a 52 week high of $37.89.

Squarespace (NYSE:SQSP - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.12). The firm had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. The business's revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) earnings per share. Equities analysts anticipate that Squarespace, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Squarespace

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Squarespace by 18.1% in the 4th quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company's stock worth $273,457,000 after purchasing an additional 1,268,698 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Squarespace by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company's stock valued at $209,449,000 after buying an additional 479,712 shares during the last quarter. BlackRock Inc. grew its position in shares of Squarespace by 38.7% during the 2nd quarter. BlackRock Inc. now owns 3,427,924 shares of the company's stock valued at $108,117,000 after buying an additional 956,920 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Squarespace by 2.7% during the 3rd quarter. Acadian Asset Management LLC now owns 1,191,871 shares of the company's stock valued at $34,508,000 after buying an additional 31,448 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Squarespace during the 1st quarter valued at about $27,254,000. Institutional investors own 92.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Mizuho lifted their target price on shares of Squarespace from $32.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, February 29th. Piper Sandler restated an "overweight" rating and set a $40.00 target price on shares of Squarespace in a report on Thursday, February 29th. Citigroup lifted their target price on shares of Squarespace from $40.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, February 29th. Royal Bank of Canada lifted their target price on shares of Squarespace from $32.00 to $35.00 and gave the company a "sector perform" rating in a report on Thursday, February 29th. Finally, Robert W. Baird upgraded shares of Squarespace from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $30.00 to $39.00 in a report on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.54.

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.