Squarespace (NYSE:SQSP) Hits New 52-Week High at $46.37

Squarespace, Inc. (NYSE:SQSP) reached 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 traded. The stock had previously closed at $46.30.

Analyst Ratings Changes

Several equities analysts recently weighed in on SQSP shares. B. Riley downgraded Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research report on Tuesday, June 11th. Mizuho downgraded Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research report on Monday, August 5th. Barclays increased their target price on Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Finally, UBS Group raised their price objective on Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $43.14.

Squarespace Stock Up 0.1 %

The firm has a market cap of $6.43 billion, a price-to-earnings ratio of -928.50, a price-to-earnings-growth ratio of 8.29 and a beta of 0.62. The business has a 50 day moving average price of $44.77 and a 200-day moving average price of $41.06.

Squarespace (NYSE:SQSP) last posted its earnings results on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The firm had revenue of $296.80 million during the quarter, compared to analyst estimates of $293.12 million. During the same period in the prior year, the business posted $0.03 EPS. The business’s quarterly revenue was up 19.9% on a year-over-year basis. Research analysts anticipate that Squarespace, Inc. will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Anthony Casalena sold 145,182 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $46.33, for a total value of $6,726,282.06. Following the completion of the sale, the chief executive officer now owns 1,349,263 shares in the company, valued at $62,511,354.79. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Squarespace news, CEO Anthony Casalena sold 145,182 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $46.33, for a total transaction of $6,726,282.06. Following the completion of the sale, the chief executive officer now owns 1,349,263 shares in the company, valued at approximately $62,511,354.79. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $44.12, for a total value of $110,300.00. Following the sale, the insider now owns 37,486 shares of the company’s stock, valued at approximately $1,653,882.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 379,701 shares of company stock worth $17,069,289. 44.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Squarespace

Hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Squarespace during the 2nd quarter valued at approximately $71,000. CWM LLC grew its position in shares of Squarespace by 185.6% in the 2nd quarter. CWM LLC now owns 2,016 shares of the company’s stock worth $88,000 after acquiring an additional 1,310 shares in the last quarter. Quest Partners LLC grew its position in shares of Squarespace by 1,828.9% in the 2nd quarter. Quest Partners LLC now owns 2,739 shares of the company’s stock worth $120,000 after acquiring an additional 2,597 shares in the last quarter. Sagefield Capital LP acquired a new position in shares of Squarespace in the 2nd quarter worth approximately $197,000. Finally, Ameritas Investment Partners Inc. grew its position in shares of Squarespace by 8.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock worth $206,000 after acquiring an additional 437 shares in the last quarter. Institutional investors and hedge funds own 92.30% of the company’s stock.

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.