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 stock was 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 directly owns 604,133 shares of the company's stock, valued at approximately $22,745,607.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Squarespace Trading Down 3.2 %
Shares of NYSE:SQSP opened at $36.59 on Friday. The company has a 50 day moving average of $33.77 and a 200-day moving average of $31.27. The firm has a market cap of $5.00 billion, a P/E ratio of -731.80, a P/E/G ratio of 3.73 and a beta of 0.51. Squarespace, Inc. has a twelve month low of $25.59 and a twelve month high of $37.89.
Squarespace (NYSE:SQSP - Get Free Report) last issued 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 firm had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. The company's revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) earnings per share. Equities research analysts forecast that Squarespace, Inc. will post 0.5 EPS for the current year.
Institutional Trading of Squarespace
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Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of Squarespace by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company's stock worth $209,449,000 after purchasing an additional 479,712 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Squarespace by 38.7% in the 2nd quarter. BlackRock Inc. now owns 3,427,924 shares of the company's stock worth $108,117,000 after purchasing an additional 956,920 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Squarespace by 2.7% during the third quarter. Acadian Asset Management LLC now owns 1,191,871 shares of the company's stock valued at $34,508,000 after acquiring an additional 31,448 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Squarespace during the first quarter valued at approximately $27,254,000. 92.30% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently commented on SQSP shares. Piper Sandler reaffirmed an "overweight" rating and issued a $40.00 price target on shares of Squarespace in a report on Thursday, February 29th. Mizuho lifted their price target on shares of Squarespace from $32.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, February 29th. JMP Securities lifted their price target on shares of Squarespace from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, March 18th. Citigroup lifted their price target on shares of Squarespace from $40.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada boosted their target price on shares of Squarespace from $32.00 to $35.00 and gave the company a "sector perform" rating in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.54.
Read Our Latest Stock Report on SQSP
About Squarespace
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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.
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