Insider Selling: Squarespace, Inc. (NYSE:SQSP) Director Sells 13,929,575 Shares of Stock

Squarespace, Inc. (NYSE:SQSP) Director Andrew Braccia sold 13,929,575 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $46.50, for a total value of $647,725,237.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Squarespace Trading Down 0.2 %

NYSE:SQSP traded down $0.10 on Thursday, hitting $46.57. The stock had a trading volume of 4,162,627 shares, compared to its average volume of 1,528,308. The business’s 50-day simple moving average is $45.76 and its two-hundred day simple moving average is $42.84. Squarespace, Inc. has a 52-week low of $26.70 and a 52-week high of $46.69.

Squarespace (NYSE:SQSP) last announced its earnings results on Friday, August 2nd. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $296.80 million for the quarter, compared to analyst estimates of $293.12 million. During the same period in the prior year, the company posted $0.03 earnings per share. The company’s revenue was up 19.9% compared to the same quarter last year. Analysts expect that Squarespace, Inc. will post 0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SQSP. Barclays lifted their price target on Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Mizuho downgraded shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research note on Monday, August 5th. William Blair reissued a “market perform” rating on shares of Squarespace in a research report on Monday. Finally, UBS Group upped their price objective on Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $43.14.

Institutional Investors Weigh In On Squarespace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brooklyn FI LLC bought a new position in shares of Squarespace during the 1st quarter valued at about $679,000. Russell Investments Group Ltd. boosted its stake in Squarespace by 5.0% during the first quarter. Russell Investments Group Ltd. now owns 253,812 shares of the company’s stock valued at $9,263,000 after buying an additional 12,180 shares during the last quarter. Vanguard Group Inc. grew its holdings in Squarespace by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock valued at $244,114,000 after buying an additional 354,057 shares in the last quarter. Acadian Asset Management LLC increased its stake in Squarespace by 24.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock worth $59,643,000 after acquiring an additional 317,416 shares during the last quarter. Finally, Glazer Capital LLC bought a new stake in Squarespace in the 2nd quarter worth approximately $96,206,000. Institutional investors own 92.30% of the company’s stock.

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.