Squarespace, Inc. (NYSE:SQSP) Insider Sells $92,025.00 in Stock

Squarespace, Inc. (NYSE:SQSP) insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction that occurred 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 transaction, the insider now 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 SEC, which is available through this hyperlink.

Squarespace Price Performance

Shares of NYSE SQSP opened at $34.49 on Friday. Squarespace, Inc. has a 52-week low of $25.59 and a 52-week high of $37.89. The firm has a fifty day moving average of $34.10 and a 200-day moving average of $31.48.

Squarespace (NYSE:SQSP) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.12). The firm had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. During the same period in the previous year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. As a group, analysts anticipate that Squarespace, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Trading of Squarespace

Several institutional investors have recently made changes to their positions in the stock. Amalgamated Bank grew its stake in shares of Squarespace by 12.4% during the 3rd quarter. Amalgamated Bank now owns 5,106 shares of the company’s stock valued at $148,000 after buying an additional 565 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Squarespace by 6.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,658 shares of the company’s stock worth $319,000 after purchasing an additional 572 shares during the period. Rhumbline Advisers boosted its position in Squarespace by 1.3% during the 1st quarter. Rhumbline Advisers now owns 48,519 shares of the company’s stock worth $1,541,000 after purchasing an additional 604 shares during the period. Invesco Ltd. boosted its position in Squarespace by 1.5% during the 3rd quarter. Invesco Ltd. now owns 43,278 shares of the company’s stock worth $1,254,000 after purchasing an additional 625 shares during the period. Finally, Franklin Resources Inc. boosted its position in Squarespace by 3.0% during the 4th quarter. Franklin Resources Inc. now owns 22,076 shares of the company’s stock worth $729,000 after purchasing an additional 640 shares during the period. 92.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SQSP. Barclays lifted their price objective on Squarespace from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. Raymond James assumed coverage on Squarespace in a research report on Wednesday, March 27th. They set an “outperform” rating and a $40.00 price objective for the company. Robert W. Baird raised shares of Squarespace from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $30.00 to $39.00 in a research note on Monday, March 4th. Royal Bank of Canada lifted their target price on shares of Squarespace from $32.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 29th. Finally, Mizuho lifted their target price on shares of Squarespace from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Squarespace currently has an average rating of “Moderate Buy” and a consensus price target of $38.54.

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.