Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena Sells 40,189 Shares of Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 40,189 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $35.54, for a total value of $1,428,317.06. Following the transaction, the chief executive officer now directly owns 2,800,558 shares in the company, valued at approximately $99,531,831.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, April 29th, Anthony Casalena sold 27,240 shares of Squarespace stock. The stock was sold at an average price of $35.62, for a total value of $970,288.80.
• On Monday, April 15th, Anthony Casalena sold 45,389 shares of Squarespace stock. The stock was sold at an average price of $35.57, for a total value of $1,614,486.73.
• On Tuesday, April 2nd, Anthony Casalena sold 51,878 shares of Squarespace stock. The stock was sold at an average price of $36.24, for a total value of $1,880,058.72.
• On Thursday, February 22nd, Anthony Casalena sold 67,230 shares of Squarespace stock. The stock was sold at an average price of $31.83, for a total value of $2,139,930.90.
• On Thursday, February 8th, Anthony Casalena sold 26,800 shares of Squarespace stock. The stock was sold at an average price of $31.90, for a total value of $854,920.00.

Squarespace Price Performance

SQSP opened at $34.84 on Wednesday. The stock’s 50 day moving average price is $34.58 and its 200 day moving average price is $31.81. The stock has a market cap of $4.76 billion, a P/E ratio of -696.80, a P/E/G ratio of 3.51 and a beta of 0.51. Squarespace, Inc. has a 12 month low of $25.59 and a 12 month high of $37.89.

Squarespace (NYSE:SQSP) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The business had revenue of $270.72 million during the quarter, compared to analysts’ expectations of $263.41 million. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) earnings per share. Equities analysts anticipate that Squarespace, Inc. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

SQSP has been the topic of a number of research reports. Raymond James initiated coverage on Squarespace in a research report on Wednesday, March 27th. They set an “outperform” rating and a $40.00 price target on the stock. Citigroup increased their price target on Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Royal Bank of Canada increased their price target on Squarespace from $32.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. Mizuho increased their price target on Squarespace from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Finally, B. Riley increased their price target on Squarespace from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.54.

Hedge Funds Weigh In On Squarespace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. boosted its stake in Squarespace by 195.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company’s stock valued at $72,000 after purchasing an additional 1,638 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Squarespace by 20.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,865,295 shares of the company’s stock worth $169,918,000 after acquiring an additional 994,880 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Squarespace by 45.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 134,329 shares of the company’s stock worth $3,891,000 after acquiring an additional 41,745 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Squarespace by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 341,525 shares of the company’s stock worth $9,894,000 after acquiring an additional 28,839 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Squarespace by 291.3% during the 3rd quarter. Lazard Asset Management LLC now owns 505,910 shares of the company’s stock worth $14,655,000 after acquiring an additional 376,634 shares in the last quarter. 92.30% of the stock is owned by institutional investors.

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.