Insider Selling: Squarespace, Inc. (NYSE:SQSP) Insider Sells 2,500 Shares of Stock

Squarespace, Inc. (NYSE:SQSP) insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $36.81, for a total value of $92,025.00. Following the transaction, the insider now directly owns 43,686 shares in the company, valued at approximately $1,608,081.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Squarespace Price Performance

Shares of NYSE SQSP opened at $34.81 on Thursday. The business has a 50 day simple moving average of $34.00 and a 200 day simple moving average of $31.42. Squarespace, Inc. has a 52 week low of $25.59 and a 52 week high of $37.89.

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

Institutional Investors Weigh In On Squarespace

Large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in Squarespace during the second quarter worth approximately $25,000. Sunbelt Securities Inc. acquired a new position in shares of Squarespace during the first quarter worth approximately $26,000. Neo Ivy Capital Management acquired a new position in shares of Squarespace during the second quarter worth approximately $31,000. Comerica Bank acquired a new position in shares of Squarespace during the third quarter worth approximately $31,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Squarespace by 2,128.1% during the first quarter. Captrust Financial Advisors now owns 1,270 shares of the company’s stock worth $33,000 after buying an additional 1,213 shares during the last quarter. Institutional investors own 92.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SQSP shares. Barclays lifted their target price on Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Raymond James started coverage on Squarespace in a research note on Wednesday, March 27th. They set an “outperform” rating and a $40.00 target price on the stock. Royal Bank of Canada lifted their target price on Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 target price on shares of Squarespace in a research note on Thursday, February 29th. Finally, JMP Securities lifted their target price on Squarespace from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.