Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena Sells 38,900 Shares

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 38,900 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $46.42, for a total transaction of $1,805,738.00. Following the completion of the transaction, the chief executive officer now directly owns 1,229,920 shares of the company’s stock, valued at $57,092,886.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 transaction 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 transaction of $2,621,633.96.

Squarespace Stock Performance

Shares of SQSP stock opened at $46.43 on Thursday. The company has a 50-day simple moving average of $45.28 and a 200 day simple moving average of $42.07. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of -928.60, a PEG ratio of 8.30 and a beta of 0.62. Squarespace, Inc. has a 52 week low of $26.70 and a 52 week high of $46.48.

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

Analysts Set New Price Targets

Several equities research analysts have commented on SQSP shares. Barclays boosted their price target 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. B. Riley cut 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 lowered Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research report on Monday, August 5th. Finally, UBS Group raised their target price on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.14.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG grew its stake in shares of Squarespace by 137.9% in the fourth quarter. UBS Group AG now owns 271,617 shares of the company’s stock worth $8,966,000 after purchasing an additional 157,462 shares during the last quarter. US Bancorp DE grew its position in shares of Squarespace by 33.8% in the 4th quarter. US Bancorp DE now owns 18,486 shares of the company’s stock valued at $610,000 after buying an additional 4,665 shares during the last quarter. Hawk Ridge Capital Management LP bought a new stake in shares of Squarespace in the 4th quarter valued at about $9,648,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Squarespace by 7.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 56,955 shares of the company’s stock valued at $1,880,000 after buying an additional 3,961 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Squarespace by 18.1% during the fourth quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock worth $273,457,000 after acquiring an additional 1,268,698 shares during the last quarter. 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.