Squarespace (NYSE:SQSP) Hits New 52-Week High – What’s Next?

Squarespace, Inc. (NYSE:SQSP) shares reached a new 52-week high during trading on Monday . The stock traded as high as $46.54 and last traded at $46.51, with a volume of 720934 shares traded. The stock had previously closed at $46.44.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SQSP shares. 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. Mizuho cut shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a research note on Monday, August 5th. William Blair restated a “market perform” rating on shares of Squarespace in a research note on Monday. Finally, UBS Group upped their target price on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Squarespace has an average rating of “Hold” and an average price target of $43.14.

Squarespace Stock Up 0.2 %

The stock has a market capitalization of $6.40 billion, a PE ratio of -930.20, 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 $42.67.

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.

Insider Activity

In related news, CEO Anthony Casalena sold 68,659 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $44.18, for a total transaction of $3,033,354.62. Following the sale, the chief executive officer now owns 1,698,304 shares of the company’s stock, valued at approximately $75,031,070.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $46.29, for a total value of $115,725.00. Following the sale, the insider now directly owns 46,269 shares in the company, valued at $2,141,792.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony Casalena sold 68,659 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $44.18, for a total transaction of $3,033,354.62. Following the transaction, the chief executive officer now owns 1,698,304 shares of the company’s stock, valued at $75,031,070.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 446,207 shares of company stock worth $20,489,371 in the last 90 days. 44.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Squarespace

Several large investors have recently modified their holdings of the business. Creative Planning raised its position in shares of Squarespace by 108.2% during the 3rd quarter. Creative Planning now owns 10,637 shares of the company’s stock worth $494,000 after purchasing an additional 5,528 shares during the last quarter. Simplicity Wealth LLC acquired a new position in shares of Squarespace in the third quarter worth $356,000. CWM LLC lifted its position in shares of Squarespace by 61.4% in the third quarter. CWM LLC now owns 3,253 shares of the company’s stock valued at $151,000 after acquiring an additional 1,237 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Squarespace by 3.6% during the third quarter. Handelsbanken Fonder AB now owns 17,200 shares of the company’s stock valued at $799,000 after acquiring an additional 600 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Squarespace by 551.5% during the 3rd quarter. SG Americas Securities LLC now owns 23,220 shares of the company’s stock worth $1,078,000 after purchasing an additional 19,656 shares in the last quarter. 92.30% of the stock is currently owned by institutional investors and hedge funds.

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.