Jonathan D. Klein Sells 53,758 Shares of Squarespace, Inc. (NYSE:SQSP) Stock

Squarespace, Inc. (NYSE:SQSP – Get Rating) Director Jonathan D. Klein sold 53,758 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $27.28, for a total transaction of $1,466,518.24. Following the transaction, the director now directly owns 691,682 shares of the company’s stock, valued at $18,869,084.96. The sale was disclosed in a document filed with the SEC, which is available through this link.

Squarespace Stock Up 1.5 %

Shares of NYSE SQSP opened at $27.92 on Friday. Squarespace, Inc. has a 52-week low of $14.43 and a 52-week high of $28.69. The firm has a fifty day moving average of $23.83 and a 200-day moving average of $22.18. The stock has a market capitalization of $3.82 billion, a PE ratio of -14.93, a P/E/G ratio of 10.63 and a beta of 0.12.

Analysts Set New Price Targets

SQSP has been the subject of a number of recent research reports. Raymond James raised their price objective on shares of Squarespace from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 8th. Royal Bank of Canada lifted their target price on shares of Squarespace from $22.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 8th. Piper Sandler lifted their target price on shares of Squarespace from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 8th. The Goldman Sachs Group lifted their target price on shares of Squarespace from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, March 9th. Finally, Bank of America lifted their target price on shares of Squarespace from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, March 8th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $28.64.

Institutional Trading of Squarespace

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Squarespace by 9.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,774,485 shares of the company’s stock valued at $101,984,000 after buying an additional 419,488 shares during the period. Riverbridge Partners LLC lifted its holdings in shares of Squarespace by 7.9% during the 3rd quarter. Riverbridge Partners LLC now owns 2,437,670 shares of the company’s stock valued at $52,069,000 after acquiring an additional 179,110 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Squarespace by 8.5% during the 3rd quarter. BlackRock Inc. now owns 2,238,381 shares of the company’s stock valued at $47,813,000 after acquiring an additional 175,669 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Squarespace during the 3rd quarter valued at $23,478,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Squarespace by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 655,580 shares of the company’s stock valued at $14,534,000 after acquiring an additional 19,256 shares in the last quarter. 40.90% of the stock is owned by hedge funds and other institutional investors.

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. Its suite of integrated products enables users to manage their projects and businesses through websites, domains, e-commerce, marketing tools, and scheduling, as well as tools for managing a social media presence.