Squarespace, Inc. (NYSE:SQSP) Receives $43.14 Consensus Price Target from Brokerages

Squarespace, Inc. (NYSE:SQSP) has been assigned an average rating of “Hold” from the thirteen analysts that are covering the company, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $43.14.

SQSP has been the topic of several analyst reports. Barclays raised their target price on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Mizuho cut Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research report on Monday, August 5th. UBS Group lifted their price target on Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Finally, William Blair reiterated a “market perform” rating on shares of Squarespace in a research report on Monday, October 14th.

Squarespace Price Performance

SQSP opened at $46.57 on Friday. Squarespace has a 12 month low of $26.70 and a 12 month high of $46.69. The stock has a market cap of $6.40 billion, a P/E ratio of -931.40, a P/E/G ratio of 8.33 and a beta of 0.62. The stock’s 50 day moving average price is $46.25 and its 200 day moving average price is $43.82.

Insider Buying and Selling

In related news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction on Monday, August 12th. The stock was sold at an average price of $44.12, for a total value of $110,300.00. Following the transaction, the insider now directly owns 37,486 shares in the company, valued at $1,653,882.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $44.12, for a total value of $110,300.00. Following the completion of the sale, the insider now owns 37,486 shares of the company’s stock, valued at $1,653,882.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Anthony Casalena sold 38,466 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $45.26, for a total value of $1,740,971.16. Following the completion of the sale, the chief executive officer now directly owns 1,527,820 shares of the company’s stock, valued at approximately $69,149,133.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,468,293 shares of company stock worth $672,517,295 in the last three months. 44.96% of the stock is currently owned by insiders.

Institutional Trading of Squarespace

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Squarespace by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock valued at $244,114,000 after purchasing an additional 354,057 shares during the last quarter. Glazer Capital LLC acquired a new stake in Squarespace during the second quarter valued at $96,206,000. Renaissance Technologies LLC boosted its position in Squarespace by 19.8% during the second quarter. Renaissance Technologies LLC now owns 1,769,994 shares of the company’s stock valued at $77,225,000 after purchasing an additional 292,600 shares during the last quarter. Acadian Asset Management LLC boosted its position in Squarespace by 24.0% during the first quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock valued at $59,643,000 after purchasing an additional 317,416 shares during the last quarter. Finally, Kodai Capital Management LP acquired a new stake in Squarespace during the first quarter valued at $36,938,000. 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.