Squarespace (NYSE:SQSP) Sees Strong Trading Volume – Time to Buy?

Squarespace, Inc. (NYSE:SQSP) shares saw an uptick in trading volume on Friday . 664,778 shares changed hands during trading, a decline of 36% from the previous session’s volume of 1,032,328 shares.The stock last traded at $46.43 and had previously closed at $46.49.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Mizuho lowered Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a report on Monday, August 5th. Barclays increased their price objective on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. Finally, UBS Group upped their price target on Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Squarespace presently has a consensus rating of “Hold” and an average target price of $43.14.

Squarespace Stock Down 0.1 %

The stock has a market capitalization of $6.43 billion, a PE ratio of -1,161.00, a PEG ratio of 8.32 and a beta of 0.62. The firm’s fifty day moving average is $45.62 and its 200-day moving average is $42.62.

Squarespace (NYSE:SQSP) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $293.12 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. Squarespace’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, analysts expect that Squarespace, Inc. will post 0.28 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Anthony Casalena sold 150,000 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $46.38, for a total value of $6,957,000.00. Following the sale, the chief executive officer now directly owns 973,420 shares of the company’s stock, valued at approximately $45,147,219.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Anthony Casalena sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $46.38, for a total value of $6,957,000.00. Following the sale, the chief executive officer now owns 973,420 shares of the company’s stock, valued at approximately $45,147,219.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $46.29, for a total value of $115,725.00. Following the transaction, the insider now directly owns 46,269 shares of the company’s stock, valued at $2,141,792.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 506,089 shares of company stock worth $23,111,005. 44.96% of the stock is owned by corporate insiders.

Institutional Trading of Squarespace

Several hedge funds and other institutional investors have recently bought and sold shares of SQSP. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Squarespace in the 2nd quarter valued at about $71,000. CWM LLC increased its position in Squarespace by 185.6% during the second quarter. CWM LLC now owns 2,016 shares of the company’s stock worth $88,000 after purchasing an additional 1,310 shares during the last quarter. Quest Partners LLC raised its stake in Squarespace by 1,828.9% during the second quarter. Quest Partners LLC now owns 2,739 shares of the company’s stock worth $120,000 after purchasing an additional 2,597 shares during the period. Sagefield Capital LP acquired a new position in shares of Squarespace in the 2nd quarter valued at $197,000. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Squarespace by 8.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock valued at $206,000 after buying an additional 437 shares during the period. 92.30% of the stock is owned by hedge funds and other institutional investors.

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.