Squarespace, Inc. (NYSE:SQSP) CFO Sells $179,874.03 in Stock

Squarespace, Inc. (NYSE:SQSP) CFO Nathan Gooden sold 5,129 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $35.07, for a total value of $179,874.03. Following the completion of the transaction, the chief financial officer now owns 61,374 shares in the company, valued at approximately $2,152,386.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Nathan Gooden also recently made the following trade(s):

• On Thursday, February 22nd, Nathan Gooden sold 5,129 shares of Squarespace stock. The stock was sold at an average price of $31.85, for a total value of $163,358.65.

Squarespace Stock Performance

Shares of SQSP opened at $36.53 on Thursday. Squarespace, Inc. has a 1 year low of $25.59 and a 1 year high of $36.94. The business has a 50-day moving average of $32.63 and a 200-day moving average of $30.65.

Squarespace (NYSE:SQSP) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). Squarespace had a negative return on equity of 2.24% and a negative net margin of 0.70%. The company had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. During the same quarter last year, the business earned ($0.07) earnings per share. Squarespace’s revenue was up 18.3% compared to the same quarter last year. Sell-side analysts predict that Squarespace, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

SQSP has been the topic of a number of recent analyst reports. Citigroup raised their price target on Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Robert W. Baird raised Squarespace from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $30.00 to $39.00 in a research note on Monday, March 4th. Raymond James initiated coverage on Squarespace in a research note on Wednesday. They issued an “outperform” rating and a $40.00 price objective on the stock. Mizuho raised their price objective on Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Finally, B. Riley raised their price objective on Squarespace from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Five equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.54.

Hedge Funds Weigh In On Squarespace

Hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in Squarespace in the second quarter worth approximately $25,000. Sunbelt Securities Inc. bought a new stake in Squarespace in the first quarter worth approximately $26,000. Point72 Middle East FZE bought a new stake in Squarespace in the fourth quarter worth approximately $30,000. Neo Ivy Capital Management bought a new stake in Squarespace in the second quarter worth approximately $31,000. Finally, Comerica Bank bought a new stake in Squarespace in the third quarter worth approximately $31,000. 92.30% of the stock is currently 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.