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

Squarespace, Inc. (NYSE:SQSP) insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction on Friday, April 12th. The stock was sold at an average price of $36.81, for a total value of $92,025.00. Following the sale, the insider now directly owns 43,686 shares of the company’s stock, valued at $1,608,081.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Squarespace Stock Performance

Shares of Squarespace stock opened at $34.73 on Friday. The stock’s 50-day moving average is $34.06 and its 200-day moving average is $31.45. Squarespace, Inc. has a one year low of $25.59 and a one year high of $37.89.

Squarespace (NYSE:SQSP) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS 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 the consensus estimate of $263.41 million. Squarespace’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.07) EPS. Equities research analysts expect that Squarespace, Inc. will post 0.5 EPS for the current year.

Institutional Trading of Squarespace

A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Squarespace by 18.1% in the fourth quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock valued at $273,457,000 after purchasing an additional 1,268,698 shares in the last quarter. Vanguard Group Inc. raised its holdings in Squarespace by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company’s stock worth $209,449,000 after acquiring an additional 479,712 shares in the last quarter. BlackRock Inc. raised its holdings in Squarespace by 38.7% during the second quarter. BlackRock Inc. now owns 3,427,924 shares of the company’s stock worth $108,117,000 after acquiring an additional 956,920 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Squarespace by 2.7% during the third quarter. Acadian Asset Management LLC now owns 1,191,871 shares of the company’s stock worth $34,508,000 after acquiring an additional 31,448 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in Squarespace during the first quarter worth about $27,254,000. 92.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SQSP has been the subject of a number of analyst reports. Robert W. Baird raised Squarespace from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $30.00 to $39.00 in a research note on Monday, March 4th. Royal Bank of Canada lifted their price objective on Squarespace from $32.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 29th. Mizuho boosted their target price on Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. B. Riley boosted their target price on Squarespace from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Piper Sandler reissued an “overweight” rating and issued a $40.00 target price on shares of Squarespace in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.54.

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.