Squarespace, Inc. (NYSE:SQSP) Insider Paul Gubbay Sells 2,500 Shares

Squarespace, Inc. (NYSE:SQSP) insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $46.29, for a total transaction of $115,725.00. Following the completion of the transaction, the insider now directly owns 46,269 shares of the company’s stock, valued at approximately $2,141,792.01. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Paul Gubbay also recently made the following trade(s):

• On Monday, August 12th, Paul Gubbay sold 2,500 shares of Squarespace stock. The shares were sold at an average price of $44.12, for a total transaction of $110,300.00.
• On Friday, July 12th, Paul Gubbay sold 2,500 shares of Squarespace stock. The shares were sold at an average price of $43.72, for a total value of $109,300.00.

Squarespace Price Performance

Squarespace stock opened at $46.30 on Tuesday. Squarespace, Inc. has a one year low of $26.70 and a one year high of $46.37. The company’s fifty day moving average price is $44.66 and its two-hundred day moving average price is $40.92. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -926.00, a PEG ratio of 8.29 and a beta of 0.62.

Squarespace (NYSE:SQSP) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The firm had revenue of $296.80 million during the quarter, compared to analyst estimates of $293.12 million. During the same quarter last year, the company posted $0.03 earnings per share. The business’s revenue was up 19.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Squarespace, Inc. will post 0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SQSP. UBS Group increased their price objective on Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. B. Riley lowered shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research report on Tuesday, June 11th. Mizuho downgraded shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a research report on Monday, August 5th. Finally, Barclays increased their target price on shares of Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Squarespace currently has an average rating of “Hold” and a consensus target price of $43.14.

Hedge Funds Weigh In On Squarespace

A number of institutional investors have recently modified their holdings of SQSP. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Squarespace during the 2nd quarter worth about $71,000. CWM LLC increased its position in Squarespace by 185.6% in the 2nd quarter. CWM LLC now owns 2,016 shares of the company’s stock worth $88,000 after buying an additional 1,310 shares during the period. Quest Partners LLC lifted its holdings in shares of 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 buying an additional 2,597 shares during the last quarter. Sagefield Capital LP acquired a new position in shares of Squarespace during the second quarter worth approximately $197,000. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Squarespace by 8.4% in the first quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock valued at $206,000 after acquiring an additional 437 shares during the period. Institutional investors 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.