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

Squarespace, Inc. (NYSE:SQSP) Director Jonathan D. Klein sold 47,247 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $37.65, for a total value of $1,778,849.55. Following 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 filing with the Securities & Exchange Commission, which is available at this link.

Squarespace Stock Performance

NYSE SQSP traded down $1.20 during mid-day trading on Friday, reaching $36.59. 501,128 shares of the stock were exchanged, compared to its average volume of 724,640. The stock has a market capitalization of $5.00 billion, a PE ratio of -755.60, a PEG ratio of 3.69 and a beta of 0.51. The business’s fifty day simple moving average is $33.67 and its 200 day simple moving average is $31.22. Squarespace, Inc. has a 1-year low of $25.59 and a 1-year high of $37.89.

Squarespace (NYSE:SQSP) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The business had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. The firm’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.07) EPS. On average, analysts anticipate that Squarespace, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on SQSP shares. Robert W. Baird raised Squarespace from a “neutral” rating to an “outperform” rating and increased their price target for the company from $30.00 to $39.00 in a report on Monday, March 4th. Citigroup lifted their price objective on Squarespace from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Barclays raised their price target on Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. B. Riley boosted their price objective on shares of Squarespace from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Mizuho boosted their price objective on Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Squarespace presently has an average rating of “Moderate Buy” and a consensus target price of $38.54.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SQSP. Sunbelt Securities Inc. raised its stake in Squarespace by 195.2% during the third quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company’s stock valued at $72,000 after buying an additional 1,638 shares in the last quarter. Vanguard Group Inc. lifted its stake in Squarespace by 20.4% during the third quarter. Vanguard Group Inc. now owns 5,865,295 shares of the company’s stock worth $169,918,000 after purchasing an additional 994,880 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Squarespace by 45.1% in the third quarter. Envestnet Asset Management Inc. now owns 134,329 shares of the company’s stock worth $3,891,000 after purchasing an additional 41,745 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Squarespace by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 341,525 shares of the company’s stock worth $9,894,000 after acquiring an additional 28,839 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Squarespace by 291.3% in the third quarter. Lazard Asset Management LLC now owns 505,910 shares of the company’s stock valued at $14,655,000 after acquiring an additional 376,634 shares during the period. 92.30% of the stock is owned by institutional investors and hedge funds.

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.