Squarespace (NYSE:SQSP) Sets New 52-Week High at $37.05

Shares of Squarespace, Inc. (NYSE:SQSP - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.05 and last traded at $36.71, with a volume of 23991 shares trading hands. The stock had previously closed at $36.63.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SQSP. B. Riley increased their target price on shares of Squarespace from $41.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. Citigroup increased their target price on shares of Squarespace from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. Raymond James began coverage on shares of Squarespace in a research note on Wednesday, March 27th. They issued an "outperform" rating and a $40.00 target price for the company. Barclays increased their target price on shares of Squarespace from $34.00 to $37.00 and gave the company an "equal weight" rating in a research note on Thursday, February 29th. Finally, Robert W. Baird upgraded shares of Squarespace from a "neutral" rating to an "outperform" rating and increased their target price for the company from $30.00 to $39.00 in a research note on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.54.

Squarespace Stock Down 0.7 %

The stock has a market cap of $4.97 billion, a price-to-earnings ratio of -727.80, a price-to-earnings-growth ratio of 3.57 and a beta of 0.51. The company's 50-day moving average is $33.13 and its 200-day moving average is $30.92.

Squarespace (NYSE:SQSP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.12). The firm had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. The company's quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the firm posted ($0.07) earnings per share. On average, research analysts forecast that Squarespace, Inc. will post 0.5 earnings per share for the current year.

Insider Transactions at Squarespace

In other news, CEO Anthony Casalena sold 67,230 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $31.83, for a total transaction of $2,139,930.90. Following the completion of the sale, the chief executive officer now owns 3,388,279 shares of the company's stock, valued at $107,848,920.57. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Nathan Gooden sold 5,129 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $31.85, for a total value of $163,358.65. Following the completion of the sale, the chief financial officer now owns 66,503 shares of the company's stock, valued at $2,118,120.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Anthony Casalena sold 67,230 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $31.83, for a total transaction of $2,139,930.90. Following the completion of the sale, the chief executive officer now directly owns 3,388,279 shares of the company's stock, valued at approximately $107,848,920.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,031 shares of company stock valued at $12,533,024. Corporate insiders own 47.14% of the company's stock.

Institutional Trading of Squarespace

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Squarespace in the second quarter valued at approximately $25,000. Sunbelt Securities Inc. bought a new position in Squarespace in the first quarter valued at approximately $26,000. Neo Ivy Capital Management bought a new position in Squarespace in the second quarter valued at approximately $31,000. Comerica Bank bought a new position in Squarespace in the third quarter valued at approximately $31,000. Finally, Captrust Financial Advisors boosted its stake in Squarespace by 2,128.1% in the first quarter. Captrust Financial Advisors now owns 1,270 shares of the company's stock valued at $33,000 after acquiring an additional 1,213 shares during 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.