Squarespace, Inc. (NYSE:SQSP) CFO Sells $179,874.03 in Stock

Squarespace, Inc. (NYSE:SQSP) CFO Nathan Gooden sold 5,129 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $35.07, for a total value of $179,874.03. Following the completion of the transaction, the chief financial officer now directly owns 61,374 shares of the company’s stock, valued at $2,152,386.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Nathan Gooden also recently made the following trade(s):

• On Thursday, February 22nd, Nathan Gooden sold 5,129 shares of Squarespace stock. The stock was sold at an average price of $31.85, for a total value of $163,358.65.

Squarespace Stock Performance

Shares of NYSE:SQSP opened at $36.53 on Thursday. Squarespace, Inc. has a twelve month low of $25.59 and a twelve month high of $36.94. The business has a fifty day moving average of $32.63 and a 200-day moving average of $30.65.

Squarespace (NYSE:SQSP) last announced its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). Squarespace had a negative net margin of 0.70% and a negative return on equity of 2.24%. The business had revenue of $270.72 million during the quarter, compared to analyst estimates of $263.41 million. During the same quarter last year, the business posted ($0.07) earnings per share. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, research analysts forecast that Squarespace, Inc. will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SQSP. Mizuho lifted their price objective on Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Royal Bank of Canada lifted their price objective on Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Barclays lifted their price objective on Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. Raymond James began coverage on Squarespace in a report on Wednesday. They set an “outperform” rating and a $40.00 price objective for the company. Finally, Robert W. Baird raised Squarespace from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $30.00 to $39.00 in a report on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.54.

Institutional Trading of Squarespace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQSP. Quarry LP acquired a new stake in Squarespace in the second quarter worth about $25,000. Sunbelt Securities Inc. acquired a new stake in Squarespace in the first quarter worth about $26,000. Point72 Middle East FZE acquired a new position in shares of Squarespace during the 4th quarter worth about $30,000. Neo Ivy Capital Management acquired a new position in shares of Squarespace during the 2nd quarter worth about $31,000. Finally, Comerica Bank acquired a new position in shares of Squarespace during the 3rd quarter worth about $31,000. 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.