Squarespace, Inc. (NYSE:SQSP) General Counsel Courtenay O’connor Sells 3,569 Shares

Squarespace, Inc. (NYSE:SQSP) General Counsel Courtenay O’connor sold 3,569 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $43.48, for a total transaction of $155,180.12. Following the sale, the general counsel now owns 57,296 shares in the company, valued at $2,491,230.08. The sale was disclosed in a filing with the SEC, which is available at this link.

Courtenay O’connor also recently made the following trade(s):

• On Thursday, March 14th, Courtenay O’connor sold 20,622 shares of Squarespace stock. The shares were sold at an average price of $32.02, for a total transaction of $660,316.44.

Squarespace Price Performance

Squarespace stock traded up $0.02 during trading hours on Tuesday, reaching $43.55. The stock had a trading volume of 611,670 shares, compared to its average volume of 986,848. The stock has a market cap of $5.99 billion, a PE ratio of -871.00, a PEG ratio of 5.00 and a beta of 0.52. Squarespace, Inc. has a 52 week low of $26.70 and a 52 week high of $44.29. The company has a fifty day simple moving average of $37.61 and a 200-day simple moving average of $33.32.

Squarespace (NYSE:SQSP) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) 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 analyst estimates of $263.41 million. The firm’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) earnings per share. Research analysts predict that Squarespace, Inc. will post 0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Squarespace

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Squarespace by 102.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,344 shares of the company’s stock valued at $329,000 after purchasing an additional 5,739 shares in the last quarter. Principal Financial Group Inc. raised its stake in Squarespace by 45.4% in the third quarter. Principal Financial Group Inc. now owns 23,528 shares of the company’s stock worth $682,000 after buying an additional 7,349 shares in the last quarter. Versor Investments LP lifted its holdings in Squarespace by 84.5% in the third quarter. Versor Investments LP now owns 13,825 shares of the company’s stock worth $401,000 after buying an additional 6,331 shares during the period. Arizona State Retirement System boosted its position in Squarespace by 12.7% during the 3rd quarter. Arizona State Retirement System now owns 12,428 shares of the company’s stock valued at $360,000 after acquiring an additional 1,396 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in shares of Squarespace by 503.9% during the 3rd quarter. Jump Financial LLC now owns 44,189 shares of the company’s stock worth $1,280,000 after acquiring an additional 36,872 shares during the period. Institutional investors own 92.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SQSP. B. Riley increased their target price on shares of Squarespace from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Robert W. Baird restated a “neutral” rating and set a $44.00 price objective (down previously from $45.00) on shares of Squarespace in a research report on Monday, May 13th. Barclays raised their price objective on shares of Squarespace from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 14th. Piper Sandler cut shares of Squarespace from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 13th. Finally, UBS Group restated a “neutral” rating and set a $44.00 price objective (up previously from $43.00) on shares of Squarespace in a research report on Tuesday, May 14th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $42.08.

Squarespace Company Profile

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.