Squarespace (NYSE:SQSP) Reaches New 1-Year High at $37.91

Squarespace, Inc. (NYSE:SQSP - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The company traded as high as $37.91 and last traded at $36.01, with a volume of 75907 shares. The stock had previously closed at $35.44.

Wall Street Analyst Weigh In

SQSP has been the subject of several research reports. Raymond James assumed coverage on shares of Squarespace in a report on Wednesday, March 27th. They issued an "outperform" rating and a $40.00 price target for the company. Piper Sandler reissued an "overweight" rating and issued a $40.00 price target on shares of Squarespace in a report on Thursday, February 29th. Robert W. Baird upgraded Squarespace from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $30.00 to $39.00 in a research note on Monday, March 4th. JMP Securities reiterated a "market outperform" rating and issued a $45.00 target price on shares of Squarespace in a research note on Tuesday, April 30th. Finally, Mizuho upped their price target on shares of Squarespace from $32.00 to $34.00 and gave the stock a "neutral" rating in a research report on Thursday, February 29th. Five research 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 stock currently has an average rating of "Moderate Buy" and an average price target of $38.54.

Squarespace Price Performance

The company has a fifty day moving average price of $34.79 and a two-hundred day moving average price of $31.94. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of -737.60, a price-to-earnings-growth ratio of 3.48 and a beta of 0.52.

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. During the same period last year, the business posted ($0.07) EPS. The company's quarterly revenue was up 18.3% on a year-over-year basis. On average, research analysts expect that Squarespace, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In other Squarespace news, Director Jonathan D. Klein sold 700 shares of the business's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $37.50, for a total transaction of $26,250.00. Following the sale, the director now owns 651,380 shares in the company, valued at approximately $24,426,750. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Anthony Casalena sold 27,240 shares of the company's stock in a transaction on Monday, April 29th. The stock was sold at an average price of $35.62, for a total transaction of $970,288.80. Following the transaction, the chief executive officer now directly owns 2,773,318 shares of the company's stock, valued at $98,785,587.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan D. Klein sold 700 shares of the firm's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $37.50, for a total value of $26,250.00. Following the sale, the director now owns 651,380 shares of the company's stock, valued at $24,426,750. The disclosure for this sale can be found here. In the last 90 days, insiders sold 342,106 shares of company stock worth $11,865,704. Insiders own 47.14% of the company's stock.

Hedge Funds Weigh In On Squarespace

Large investors have recently made changes to their positions in the business. Sunbelt Securities Inc. lifted its stake in Squarespace by 195.2% in the third quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company's stock valued at $72,000 after acquiring an additional 1,638 shares during the last quarter. International Assets Investment Management LLC grew its position in Squarespace by 3,201.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,301 shares of the company's stock worth $100,000 after purchasing an additional 3,201 shares during the last quarter. Amalgamated Bank raised its position in shares of Squarespace by 12.4% during the third quarter. Amalgamated Bank now owns 5,106 shares of the company's stock valued at $148,000 after buying an additional 565 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Squarespace during the fourth quarter valued at about $244,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Squarespace in the 3rd quarter valued at approximately $250,000. Institutional investors and hedge funds 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.