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 dated Friday, April 12th. The stock was sold at an average price of $36.81, for a total transaction of $92,025.00. Following the transaction, the insider now owns 43,686 shares in the company, valued at approximately $1,608,081.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Squarespace Stock Performance

NYSE:SQSP opened at $34.49 on Friday. Squarespace, Inc. has a 12 month low of $25.59 and a 12 month high of $37.89. The company’s 50-day moving average price is $34.10 and its two-hundred day moving average price is $31.48.

Squarespace (NYSE:SQSP) last announced its 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 business had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. During the same period in the previous year, the company posted ($0.07) earnings per share. The company’s revenue was up 18.3% on a year-over-year basis. As a group, analysts forecast that Squarespace, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on SQSP. B. Riley boosted their price objective on shares of Squarespace from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Barclays lifted their target price on shares of Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Citigroup lifted their target price on shares of Squarespace from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Royal Bank of Canada lifted their target price on shares of Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $40.00 target price on shares of Squarespace in a research report 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.54.

Hedge Funds Weigh In On Squarespace

A number of institutional investors have recently modified their holdings of SQSP. Advisor Group Holdings Inc. raised its stake in shares of Squarespace by 93.2% in the first quarter. Advisor Group Holdings Inc. now owns 3,336 shares of the company’s stock worth $85,000 after acquiring an additional 1,609 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Squarespace by 317.0% in the first quarter. JPMorgan Chase & Co. now owns 56,433 shares of the company’s stock worth $1,446,000 after acquiring an additional 42,900 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Squarespace in the first quarter worth about $207,000. Bank of New York Mellon Corp raised its stake in shares of Squarespace by 953.4% in the first quarter. Bank of New York Mellon Corp now owns 441,633 shares of the company’s stock worth $11,314,000 after acquiring an additional 399,710 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Squarespace by 44.8% during the first quarter. US Bancorp DE now owns 12,704 shares of the company’s stock worth $326,000 after buying an additional 3,931 shares during the last quarter. 92.30% of the stock is owned by institutional investors.

About Squarespace

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.