Squarespace (NYSE:SQSP) Reaches New 1-Year High at $37.91

Squarespace, Inc. (NYSE:SQSP)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $37.91 and last traded at $36.01, with a volume of 75907 shares changing hands. The stock had previously closed at $35.44.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Mizuho raised their target price on shares of Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. B. Riley upped their price objective on shares of Squarespace from $41.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Robert W. Baird upgraded shares of Squarespace from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $30.00 to $39.00 in a research note on Monday, March 4th. JMP Securities reiterated a “market outperform” rating and issued a $45.00 price target on shares of Squarespace in a research note on Tuesday, April 30th. Finally, Raymond James assumed coverage on shares of Squarespace in a research report on Wednesday, March 27th. They set an “outperform” rating and a $40.00 price objective for the company. 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 a consensus rating of “Moderate Buy” and a consensus price target of $39.38.

Squarespace Stock Down 2.6 %

The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of -755.70, a P/E/G ratio of 3.48 and a beta of 0.52. The business’s 50 day simple moving average is $34.94 and its 200-day simple moving average is $32.04.

Squarespace (NYSE:SQSP) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.12). The company had revenue of $270.72 million for the quarter, compared to analyst estimates of $263.41 million. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. On average, analysts expect that Squarespace, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the firm’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 value of $92,025.00. Following the sale, the insider now owns 43,686 shares in the company, valued at $1,608,081.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now 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 is available through this hyperlink. Also, CEO Anthony Casalena sold 67,230 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $31.83, for a total transaction of $2,139,930.90. Following the transaction, the chief executive officer now directly owns 3,388,279 shares of the company’s stock, valued at approximately $107,848,920.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,306 shares of company stock worth $11,010,784. Corporate insiders own 47.14% of the company’s stock.

Hedge Funds Weigh In On Squarespace

Several large investors have recently modified their holdings of SQSP. Wellington Management Group LLP raised its stake in Squarespace by 18.1% during the fourth quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock worth $273,457,000 after buying an additional 1,268,698 shares during the last quarter. Vanguard Group Inc. raised its stake in Squarespace by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company’s stock worth $209,449,000 after buying an additional 479,712 shares during the last quarter. Acadian Asset Management LLC raised its stake in Squarespace by 2.7% during the third quarter. Acadian Asset Management LLC now owns 1,191,871 shares of the company’s stock worth $34,508,000 after buying an additional 31,448 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Squarespace by 17.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 912,135 shares of the company’s stock valued at $26,425,000 after purchasing an additional 134,598 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Squarespace by 32.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,091 shares of the company’s stock valued at $15,183,000 after purchasing an additional 127,362 shares in the last quarter. Institutional investors own 92.30% of the company’s stock.

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.