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 dated Friday, October 11th. The stock was sold at an average price of $46.38, for a total value of $6,957,000.00. Following the sale, the chief executive officer now directly owns 973,420 shares of the company’s stock, valued at $45,147,219.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was 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 shares were 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 shares were sold at an average price of $43.78, for a total value of $2,621,633.96.

Squarespace Stock Performance

Shares of NYSE:SQSP traded down $0.03 during trading on Friday, hitting $46.46. 2,373,576 shares of the stock were exchanged, compared to its average volume of 1,041,002. Squarespace, Inc. has a 1-year low of $26.70 and a 1-year high of $46.54. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of -1,161.50, a price-to-earnings-growth ratio of 8.32 and a beta of 0.62. The company’s fifty day simple moving average is $45.57 and its 200-day simple moving average is $42.51.

Squarespace (NYSE:SQSP) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.04 earnings per share 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 previous year, the firm earned $0.03 earnings per share. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. On average, research analysts forecast that Squarespace, Inc. will post 0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SQSP has been the topic of a number of analyst reports. Barclays increased their price objective on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. Mizuho lowered Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a report on Monday, August 5th. Finally, UBS Group increased their price objective on Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $43.14.

Institutional Trading of Squarespace

Institutional investors have recently modified their holdings of the company. Hawk Ridge Capital Management LP bought a new position in shares of Squarespace during the 4th quarter worth approximately $9,648,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Squarespace by 7.5% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 56,955 shares of the company’s stock worth $1,880,000 after buying an additional 3,961 shares during the period. Wellington Management Group LLP lifted its position in shares of Squarespace by 18.1% during the 4th quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock worth $273,457,000 after buying an additional 1,268,698 shares during the period. Vanguard Group Inc. lifted its position in shares of Squarespace by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company’s stock worth $209,449,000 after buying an additional 479,712 shares during the period. Finally, Quadrature Capital Ltd lifted its position in shares of Squarespace by 20.2% during the 4th quarter. Quadrature Capital Ltd now owns 25,832 shares of the company’s stock worth $853,000 after buying an additional 4,350 shares during the period. 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.