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 the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $36.81, for a total value of $92,025.00. Following the completion of 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 SEC, which is accessible through this hyperlink.

Squarespace Stock Performance

Shares of SQSP opened at $34.73 on Friday. The stock has a 50-day moving average of $34.06 and a 200-day moving average of $31.45. Squarespace, Inc. has a one year low of $25.59 and a one year high of $37.89.

Squarespace (NYSE:SQSP) last issued its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.12). The firm had revenue of $270.72 million during the quarter, compared to the consensus estimate of $263.41 million. Squarespace’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) EPS. As a group, analysts forecast that Squarespace, Inc. will post 0.5 EPS for the current year.

Institutional Trading of Squarespace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQSP. Allspring Global Investments Holdings LLC boosted its position in shares of Squarespace by 6.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 20,733 shares of the company’s stock valued at $756,000 after buying an additional 1,340 shares during the last quarter. Diversified Trust Co grew its holdings in Squarespace by 13.1% during the first quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock worth $348,000 after buying an additional 1,111 shares in the last quarter. Brooklyn FI LLC bought a new stake in Squarespace during the first quarter worth $679,000. FCF Advisors LLC bought a new stake in Squarespace during the first quarter worth $999,000. Finally, Renaissance Capital LLC grew its holdings in Squarespace by 15.8% during the first quarter. Renaissance Capital LLC now owns 37,042 shares of the company’s stock worth $1,350,000 after buying an additional 5,066 shares in the last quarter. 92.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SQSP has been the subject of several analyst reports. B. Riley raised their target price on Squarespace from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 target price on shares of Squarespace in a research report on Thursday, February 29th. Raymond James initiated coverage on Squarespace in a research report on Wednesday, March 27th. They set an “outperform” rating and a $40.00 target price for the company. Mizuho raised their target price on Squarespace from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Finally, JMP Securities raised their target price on Squarespace from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.54.

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.