Squarespace, Inc. (NYSE:SQSP) Insider Sells $92,025.00 in Stock

Squarespace, Inc. (NYSE:SQSP) insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $36.81, for a total transaction of $92,025.00. Following the transaction, the insider now directly owns 43,686 shares of the company’s stock, valued at $1,608,081.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Squarespace Stock Performance

SQSP stock traded down $0.41 during trading on Wednesday, hitting $34.89. 312,378 shares of the company’s stock traded hands, compared to its average volume of 713,510. Squarespace, Inc. has a 52 week low of $25.59 and a 52 week high of $37.89. The business has a fifty day simple moving average of $33.94 and a 200 day simple moving average of $31.40. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of -701.80, a P/E/G ratio of 3.48 and a beta of 0.51.

Squarespace (NYSE:SQSP) last announced its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.12). The firm had revenue of $270.72 million for the quarter, compared to analyst estimates of $263.41 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. Research analysts forecast that Squarespace, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Squarespace

Several hedge funds have recently added to or reduced their stakes in SQSP. Quarry LP acquired a new position in shares of Squarespace during the 2nd quarter worth $25,000. Sunbelt Securities Inc. purchased a new stake in Squarespace in the 1st quarter valued at about $26,000. Point72 Middle East FZE purchased a new stake in Squarespace in the 4th quarter valued at about $30,000. Neo Ivy Capital Management purchased a new stake in shares of Squarespace during the 2nd quarter worth about $31,000. Finally, Comerica Bank purchased a new stake in shares of Squarespace during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 92.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SQSP. JMP Securities boosted their price objective on shares of Squarespace from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Raymond James assumed coverage on shares of Squarespace in a report on Wednesday, March 27th. They set an “outperform” rating and a $40.00 price objective for the company. Robert W. Baird raised shares of Squarespace from a “neutral” rating to an “outperform” rating and upped their target price for the company from $30.00 to $39.00 in a report on Monday, March 4th. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 target price on shares of Squarespace in a report on Thursday, February 29th. Finally, B. Riley upped their price target 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. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Squarespace presently has an average rating of “Moderate Buy” and an average target price of $38.54.

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.