Squarespace (NYSE:SQSP) Reaches New 52-Week High at $37.76

Squarespace, Inc. (NYSE:SQSP - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.76 and last traded at $37.55, with a volume of 18154 shares changing hands. The stock had previously closed at $37.36.

Analyst Ratings Changes

A number of research analysts have issued reports on SQSP shares. Piper Sandler reissued an "overweight" rating and set a $40.00 price objective on shares of Squarespace in a research report on Thursday, February 29th. Raymond James began coverage on shares of Squarespace in a research report on Wednesday, March 27th. They set an "outperform" rating and a $40.00 price objective on the stock. Mizuho boosted their target price on shares of Squarespace from $32.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, February 29th. Citigroup boosted their target price on shares of Squarespace from $40.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, February 29th. Finally, JMP Securities boosted their target price on shares of Squarespace from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, March 18th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $38.54.

Squarespace Stock Performance

The company's 50-day moving average is $33.53 and its 200 day moving average is $31.17. The company has a market capitalization of $5.16 billion, a PE ratio of -747.00, a P/E/G ratio of 3.68 and a beta of 0.51.

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

Insider Activity

In other news, CEO Anthony Casalena sold 43,539 shares of the firm's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $31.64, for a total transaction of $1,377,573.96. Following the sale, the chief executive officer now owns 3,648,251 shares of the company's stock, valued at approximately $115,430,661.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Anthony Casalena sold 43,539 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $31.64, for a total value of $1,377,573.96. Following the transaction, the chief executive officer now owns 3,648,251 shares in the company, valued at approximately $115,430,661.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nathan Gooden sold 5,129 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $31.85, for a total transaction of $163,358.65. Following the completion of the transaction, the chief financial officer now owns 66,503 shares in the company, valued at approximately $2,118,120.55. The disclosure for this sale can be found here. Insiders have sold a total of 385,784 shares of company stock valued at $12,636,303 in the last 90 days. 47.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Squarespace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Squarespace during the 2nd quarter worth approximately $25,000. Sunbelt Securities Inc. bought a new stake in Squarespace during the 1st quarter worth approximately $26,000. Point72 Middle East FZE bought a new stake in Squarespace during the 4th quarter worth approximately $30,000. Neo Ivy Capital Management bought a new stake in Squarespace during the 2nd quarter worth approximately $31,000. Finally, Comerica Bank bought a new stake in shares of Squarespace during the third quarter valued at approximately $31,000. Institutional investors own 92.30% of the company's stock.

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.