Squarespace, Inc. (NYSE:SQSP) Insider Paul Gubbay Sells 2,500 Shares

Squarespace, Inc. (NYSE:SQSP) 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Squarespace Trading Down 1.2 %

Squarespace stock traded down $0.41 during midday trading on Wednesday, reaching $34.89. The stock had a trading volume of 312,378 shares, compared to its average volume of 713,510. Squarespace, Inc. has a 12 month low of $25.59 and a 12 month high of $37.89. The company has a market capitalization of $4.77 billion, a P/E ratio of -701.80, a PEG ratio of 3.48 and a beta of 0.51. The company has a fifty day moving average price of $33.94 and a two-hundred day moving average price of $31.40.

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 firm had revenue of $270.72 million during the quarter, compared to analysts’ expectations of $263.41 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. The firm’s revenue was up 18.3% on a year-over-year basis. On average, equities research analysts predict that Squarespace, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Mizuho raised their price objective on Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Barclays raised their price objective on Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Royal Bank of Canada increased their target price on Squarespace from $32.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 29th. Raymond James initiated coverage on Squarespace in a research note on Wednesday, March 27th. They set an “outperform” rating and a $40.00 target price on the stock. Finally, Robert W. Baird upgraded Squarespace from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $30.00 to $39.00 in a research note on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.54.

Hedge Funds Weigh In On Squarespace

Institutional investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. raised its holdings in Squarespace by 93.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,336 shares of the company’s stock valued at $85,000 after acquiring an additional 1,609 shares during the period. JPMorgan Chase & Co. raised its holdings in Squarespace by 317.0% during the 1st quarter. JPMorgan Chase & Co. now owns 56,433 shares of the company’s stock valued at $1,446,000 after acquiring an additional 42,900 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Squarespace during the 1st quarter valued at $207,000. Bank of New York Mellon Corp raised its holdings in Squarespace by 953.4% during the 1st quarter. Bank of New York Mellon Corp now owns 441,633 shares of the company’s stock valued at $11,314,000 after acquiring an additional 399,710 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Squarespace by 44.8% in the first quarter. US Bancorp DE now owns 12,704 shares of the company’s stock worth $326,000 after purchasing an additional 3,931 shares during the period. Hedge funds and other 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.