Anthony Casalena Sells 92,511 Shares of Squarespace, Inc. (NYSE:SQSP) Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 92,511 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.51, for a total value of $4,302,686.61. Following the completion of the sale, the chief executive officer now directly owns 880,909 shares in the company, valued at $40,971,077.59. 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 available through this hyperlink.

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

• On Friday, October 11th, Anthony Casalena sold 150,000 shares of Squarespace stock. The stock was sold at an average price of $46.38, for a total transaction of $6,957,000.00.
• 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 transaction of $1,805,738.00.
• On Tuesday, September 17th, Anthony Casalena sold 145,182 shares of Squarespace stock. The shares were sold at an average price of $46.33, for a total transaction 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 transaction 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.

Squarespace Stock Performance

Shares of Squarespace stock traded down $0.10 on Wednesday, reaching $46.57. 3,820,724 shares of the company’s stock were exchanged, compared to its average volume of 1,060,231. The company has a market capitalization of $6.40 billion, a P/E ratio of -931.40, a price-to-earnings-growth ratio of 8.32 and a beta of 0.62. Squarespace, Inc. has a 52 week low of $26.70 and a 52 week high of $46.69. The firm’s 50-day moving average is $45.71 and its two-hundred day moving average is $42.81.

Squarespace (NYSE:SQSP) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $296.80 million for the quarter, compared to analyst estimates of $293.12 million. During the same period last year, the firm earned $0.03 EPS. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, analysts expect that Squarespace, Inc. will post 0.28 EPS for the current fiscal year.

Institutional Trading of Squarespace

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its holdings in Squarespace by 3.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,522 shares of the company’s stock worth $415,000 after purchasing an additional 352 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in 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 last quarter. Handelsbanken Fonder AB grew its holdings in Squarespace by 3.6% during the third quarter. Handelsbanken Fonder AB now owns 17,200 shares of the company’s stock valued at $799,000 after purchasing an additional 600 shares during the period. Ellsworth Advisors LLC increased its holdings in Squarespace by 5.3% in the 2nd quarter. Ellsworth Advisors LLC now owns 14,370 shares of the company’s stock worth $627,000 after acquiring an additional 719 shares during the last quarter. Finally, Diversified Trust Co increased its stake in shares of Squarespace by 13.1% in the first quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock worth $348,000 after purchasing an additional 1,111 shares in the last quarter. Institutional investors own 92.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on SQSP shares. Mizuho downgraded Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research note on Monday, August 5th. William Blair reissued a “market perform” rating on shares of Squarespace in a report on Monday. UBS Group raised their price target 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. Finally, Barclays lifted their price target on shares of Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $43.14.

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.