Squarespace (NYSE:SQSP) Reaches New 1-Year High at $46.49

Squarespace, Inc. (NYSE:SQSP) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $46.49 and last traded at $46.47, with a volume of 323118 shares. The stock had previously closed at $46.43.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SQSP. Mizuho lowered Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a report on Monday, August 5th. Barclays raised their price target on Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. UBS Group raised their price target on Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Finally, B. Riley lowered Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a report on Tuesday, June 11th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $43.14.

Squarespace Stock Performance

The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of -928.60, a P/E/G ratio of 8.30 and a beta of 0.62. The company has a 50-day moving average of $45.28 and a 200-day moving average of $42.07.

Squarespace (NYSE:SQSP) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $293.12 million. During the same period in the prior year, the company earned $0.03 EPS. Squarespace’s revenue was up 19.9% on a year-over-year basis. As a group, analysts expect that Squarespace, Inc. will post 0.28 earnings per share for the current year.

Insider Buying and Selling at Squarespace

In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $43.72, for a total value of $109,300.00. Following the completion of the transaction, the insider now directly owns 39,986 shares in the company, valued at approximately $1,748,187.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $43.72, for a total value of $109,300.00. Following the completion of the transaction, the insider now directly owns 39,986 shares in the company, valued at approximately $1,748,187.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony Casalena sold 68,659 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $44.18, for a total value of $3,033,354.62. Following the completion of the transaction, the chief executive officer now owns 1,698,304 shares of the company’s stock, valued at $75,031,070.72. The disclosure for this sale can be found here. In the last three months, insiders sold 358,589 shares of company stock worth $16,263,305. Insiders own 44.96% of the company’s stock.

Institutional Trading of Squarespace

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of Squarespace by 18.1% during the 4th 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. increased its holdings in shares of Squarespace by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock worth $244,114,000 after buying an additional 354,057 shares during the last quarter. Glazer Capital LLC acquired a new stake in shares of Squarespace during the 2nd quarter worth $96,206,000. Renaissance Technologies LLC increased its holdings in shares of Squarespace by 19.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,769,994 shares of the company’s stock worth $77,225,000 after buying an additional 292,600 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Squarespace by 24.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock worth $59,643,000 after buying an additional 317,416 shares during the last quarter. 92.30% of the stock is currently owned by institutional investors and hedge funds.

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.