Squarespace (NYSE:SQSP) Sets New 1-Year High at $46.37

Squarespace, Inc. (NYSE:SQSP)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $46.37 and last traded at $46.36, with a volume of 597897 shares trading hands. The stock had previously closed at $46.30.

Analyst Ratings Changes

SQSP has been the topic of a number of recent analyst reports. Barclays increased their price objective on shares of Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. UBS Group increased their price target on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. B. Riley cut shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research report on Tuesday, June 11th. Finally, Mizuho downgraded Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research note on Monday, August 5th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Squarespace presently has an average rating of “Hold” and a consensus target price of $43.14.

Squarespace Price Performance

The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of -926.60, a price-to-earnings-growth ratio of 8.29 and a beta of 0.62. The business’s 50 day moving average price is $44.66 and its 200-day moving average price is $40.92.

Squarespace (NYSE:SQSP) last released its earnings results 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 business had revenue of $296.80 million during the quarter, compared to the consensus estimate of $293.12 million. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 EPS. As a group, analysts expect that Squarespace, Inc. will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Squarespace

In related news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $46.29, for a total transaction of $115,725.00. Following the sale, the insider now owns 46,269 shares of the company’s stock, valued at $2,141,792.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Squarespace news, CEO Anthony Casalena sold 38,466 shares of Squarespace stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $45.26, for a total transaction of $1,740,971.16. Following the completion of the transaction, the chief executive officer now owns 1,527,820 shares in the company, valued at $69,149,133.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $46.29, for a total transaction of $115,725.00. Following the completion of the sale, the insider now owns 46,269 shares in the company, valued at $2,141,792.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 234,519 shares of company stock valued at $10,343,007. 44.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Squarespace

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in Squarespace by 18.1% in the 4th quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock valued at $273,457,000 after acquiring an additional 1,268,698 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Squarespace by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock valued at $244,114,000 after purchasing an additional 354,057 shares during the period. Glazer Capital LLC acquired a new position in Squarespace in the second quarter valued at $96,206,000. Renaissance Technologies LLC lifted 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 boosted its stake in Squarespace by 24.0% in 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 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.