Squarespace (NYSE:SQSP) Reaches New 1-Year High at $44.56

Squarespace, Inc. (NYSE:SQSP)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $44.56 and last traded at $44.37, with a volume of 2627083 shares traded. The stock had previously closed at $44.05.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SQSP. The Goldman Sachs Group lifted their price target on shares of Squarespace from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Piper Sandler cut shares of Squarespace from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 13th. Barclays raised their price objective on shares of Squarespace from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 14th. UBS Group reiterated a “neutral” rating and issued a $44.00 target price (up from $43.00) on shares of Squarespace in a research note on Tuesday, May 14th. Finally, Robert W. Baird restated a “neutral” rating and set a $44.00 price target (down from $45.00) on shares of Squarespace in a research note on Monday, May 13th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.75.

Squarespace Trading Up 0.8 %

The business has a 50-day moving average of $43.79 and a 200 day moving average of $38.19. The firm has a market capitalization of $6.11 billion, a PE ratio of -888.00, a price-to-earnings-growth ratio of 5.06 and a beta of 0.62.

Squarespace (NYSE:SQSP) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $296.80 million during the quarter, compared to analyst estimates of $293.12 million. During the same quarter in the prior year, the company earned $0.03 EPS. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, sell-side analysts expect that Squarespace, Inc. will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Squarespace news, CEO Anthony Casalena sold 59,882 shares of Squarespace stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.78, for a total value of $2,621,633.96. Following the completion of the transaction, the chief executive officer now directly owns 1,975,618 shares of the company’s stock, valued at $86,492,556.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction on Friday, July 12th. The shares were sold at an average price of $43.72, for a total transaction of $109,300.00. Following the transaction, the insider now owns 39,986 shares in the company, valued at approximately $1,748,187.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anthony Casalena sold 59,882 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.78, for a total value of $2,621,633.96. Following the completion of the transaction, the chief executive officer now owns 1,975,618 shares in the company, valued at $86,492,556.04. The disclosure for this sale can be found here. Insiders sold a total of 455,862 shares of company stock valued at $19,387,341 over the last three months. Corporate insiders own 44.96% of the company’s stock.

Institutional Investors Weigh In On Squarespace

Several large investors have recently made changes to their positions in SQSP. CWM LLC increased its holdings in shares of Squarespace by 185.6% in the 2nd quarter. CWM LLC now owns 2,016 shares of the company’s stock worth $88,000 after buying an additional 1,310 shares during the last quarter. International Assets Investment Management LLC raised its position in Squarespace by 3,201.0% during the fourth quarter. International Assets Investment Management LLC now owns 3,301 shares of the company’s stock valued at $100,000 after purchasing an additional 3,201 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Squarespace by 8.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock valued at $206,000 after purchasing an additional 437 shares during the last quarter. Handelsbanken Fonder AB bought a new position in shares of Squarespace during the 4th quarter valued at approximately $244,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Squarespace by 6.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,658 shares of the company’s stock valued at $319,000 after buying an additional 572 shares during the period. 92.30% of the stock is owned by institutional investors.

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.