Anthony Casalena Sells 150,000 Shares of Squarespace, Inc. (NYSE:SQSP) Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $46.38, for a total value of $6,957,000.00. Following the completion of the transaction, the chief executive officer now directly owns 973,420 shares of the company’s stock, valued at $45,147,219.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Anthony Casalena also recently made the following trade(s):

• On Monday, September 30th, Anthony Casalena sold 38,900 shares of Squarespace stock. The shares were sold at an average price of $46.42, for a total value of $1,805,738.00.
• On Tuesday, September 17th, Anthony Casalena sold 145,182 shares of Squarespace stock. The stock was sold at an average price of $46.33, for a total value of $6,726,282.06.
• On Wednesday, September 4th, Anthony Casalena sold 38,466 shares of Squarespace stock. The stock was sold at an average price of $45.26, for a total value of $1,740,971.16.
• On Thursday, August 8th, Anthony Casalena sold 68,659 shares of Squarespace stock. The stock was sold at an average price of $44.18, for a total value of $3,033,354.62.
• On Monday, July 15th, Anthony Casalena sold 59,882 shares of Squarespace stock. The stock was sold at an average price of $43.78, for a total value of $2,621,633.96.

Squarespace Trading Down 0.1 %

Shares of Squarespace stock opened at $46.44 on Friday. Squarespace, Inc. has a twelve month low of $26.70 and a twelve month high of $46.54. The stock has a market capitalization of $6.43 billion, a P/E ratio of -1,161.00, a PEG ratio of 8.32 and a beta of 0.62. The business’s fifty day moving average price is $45.62 and its 200 day moving average price is $42.62.

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

Analysts Set New Price Targets

SQSP has been the subject of several recent research reports. UBS Group raised their price target on Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Mizuho downgraded Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a research report on Monday, August 5th. Finally, Barclays lifted their price objective on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.14.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Squarespace in the second quarter valued at $71,000. CWM LLC lifted its stake in shares of Squarespace by 185.6% during the second quarter. CWM LLC now owns 2,016 shares of the company’s stock worth $88,000 after purchasing an additional 1,310 shares in the last quarter. Quest Partners LLC lifted its stake 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 purchasing an additional 2,597 shares in the last quarter. Sagefield Capital LP acquired a new position in shares of Squarespace during the second quarter worth about $197,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Squarespace during the second quarter worth about $245,000. 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.