Squarespace, Inc. (NYSE:SQSP) Insider Sells $110,300.00 in Stock

Squarespace, Inc. (NYSE:SQSP) insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $44.12, for a total value of $110,300.00. Following the completion of the sale, the insider now directly owns 37,486 shares of the company’s stock, valued at $1,653,882.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Paul Gubbay also recently made the following trade(s):

• On Friday, July 12th, Paul Gubbay sold 2,500 shares of Squarespace stock. The stock was sold at an average price of $43.72, for a total value of $109,300.00.
• On Wednesday, June 12th, Paul Gubbay sold 2,500 shares of Squarespace stock. The stock was sold at an average price of $43.82, for a total value of $109,550.00.

Squarespace Stock Up 1.1 %

SQSP stock opened at $44.90 on Friday. The business has a 50 day moving average price of $43.87 and a 200 day moving average price of $38.76. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of -898.00, a PEG ratio of 5.03 and a beta of 0.62. Squarespace, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $45.13.

Squarespace (NYSE:SQSP) last posted its earnings results on Friday, August 2nd. The company reported $0.04 earnings per share 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. The firm’s revenue was up 19.9% compared to the same quarter last year. During the same period last year, the firm posted $0.03 EPS. As a group, sell-side analysts anticipate that Squarespace, Inc. will post 0.44 EPS for the current year.

Analyst Ratings Changes

SQSP has been the subject of a number of recent research reports. Barclays raised their target price on Squarespace from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 14th. B. Riley cut Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a report on Tuesday, June 11th. Royal Bank of Canada raised their target price on Squarespace from $35.00 to $38.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. UBS Group reiterated a “neutral” rating and issued a $44.00 price objective (up previously from $43.00) on shares of Squarespace in a research note on Tuesday, May 14th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $45.00 price objective on shares of Squarespace in a research note on Tuesday, April 30th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.64.

Institutional Investors Weigh In On Squarespace

Several institutional investors have recently added to or reduced their stakes in SQSP. Wellington Management Group LLP increased its position 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 period. Vanguard Group Inc. increased its position in Squarespace by 5.6% during the first 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 period. Glazer Capital LLC acquired a new position in Squarespace during the second quarter worth approximately $96,206,000. Renaissance Technologies LLC increased its position in Squarespace by 19.8% during the second 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 period. Finally, Acadian Asset Management LLC increased its position in Squarespace by 24.0% during the first 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 period. Hedge funds and other institutional investors own 92.30% of the company’s stock.

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.