Brokerages Set Squarespace, Inc. (NYSE:SQSP) Target Price at $42.08

Squarespace, Inc. (NYSE:SQSP) has earned a consensus recommendation of “Hold” from the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $42.08.

A number of equities analysts have weighed in on the stock. UBS Group reissued a “neutral” rating and set a $44.00 price objective (up from $43.00) on shares of Squarespace in a research note on Tuesday, May 14th. Baird R W downgraded Squarespace from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 13th. JMP Securities restated a “market outperform” rating and issued a $45.00 price objective on shares of Squarespace in a report on Tuesday, April 30th. Robert W. Baird reiterated a “neutral” rating and set a $44.00 target price (down previously from $45.00) on shares of Squarespace in a report on Monday, May 13th. Finally, Barclays increased their target price on shares of Squarespace from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th.

Squarespace Stock Performance

Squarespace stock opened at $43.78 on Monday. Squarespace has a 1 year low of $26.70 and a 1 year high of $44.29. The firm has a 50 day moving average price of $41.77 and a 200 day moving average price of $36.15. The company has a market cap of $6.02 billion, a price-to-earnings ratio of -875.60, a PEG ratio of 5.01 and a beta of 0.62.

Insider Activity at Squarespace

In other news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $36.81, for a total transaction 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Squarespace news, Director Jonathan D. Klein sold 700 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $37.50, for a total transaction of $26,250.00. Following the completion of the sale, the director now owns 651,380 shares in the company, valued at $24,426,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $36.81, for a total transaction of $92,025.00. Following the completion of the transaction, the insider now owns 43,686 shares in the company, valued at $1,608,081.66. The disclosure for this sale can be found here. Insiders have sold 556,745 shares of company stock valued at $22,566,625 over the last ninety days. Corporate insiders own 44.96% of the company’s stock.

Institutional Investors Weigh In On Squarespace

Institutional investors have recently modified their holdings of the business. Sunbelt Securities Inc. lifted its stake in Squarespace by 195.2% in the third quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company’s stock valued at $72,000 after buying an additional 1,638 shares during the last quarter. Brooklyn FI LLC acquired a new position in Squarespace during the 1st quarter valued at about $679,000. Jump Financial LLC grew its position in Squarespace by 137.6% in the 4th quarter. Jump Financial LLC now owns 105,000 shares of the company’s stock worth $3,466,000 after purchasing an additional 60,811 shares during the last quarter. UBS Group AG increased its stake in shares of Squarespace by 137.9% in the fourth quarter. UBS Group AG now owns 271,617 shares of the company’s stock valued at $8,966,000 after purchasing an additional 157,462 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Squarespace by 20.4% in the third quarter. Vanguard Group Inc. now owns 5,865,295 shares of the company’s stock valued at $169,918,000 after purchasing an additional 994,880 shares during the period. 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.