Anthony Casalena Sells 27,240 Shares of Squarespace, Inc. (NYSE:SQSP) Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 27,240 shares of Squarespace stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $35.62, for a total transaction of $970,288.80. Following the completion of the sale, the chief executive officer now owns 2,773,318 shares of the company’s stock, valued at approximately $98,785,587.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, April 26th, Anthony Casalena sold 40,189 shares of Squarespace stock. The stock was sold at an average price of $35.54, for a total transaction of $1,428,317.06.
• 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 transaction of $1,614,486.73.
• On Tuesday, April 2nd, Anthony Casalena sold 51,878 shares of Squarespace stock. The shares were sold at an average price of $36.24, for a total transaction of $1,880,058.72.
• On Thursday, February 22nd, Anthony Casalena sold 67,230 shares of Squarespace stock. The shares were sold at an average price of $31.83, for a total transaction of $2,139,930.90.
• On Thursday, February 8th, Anthony Casalena sold 26,800 shares of Squarespace stock. The shares were sold at an average price of $31.90, for a total transaction of $854,920.00.

Squarespace Price Performance

SQSP opened at $34.20 on Thursday. Squarespace, Inc. has a fifty-two week low of $25.59 and a fifty-two week high of $37.89. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of -684.00, a PEG ratio of 3.51 and a beta of 0.51. The company’s 50 day moving average price is $34.58 and its two-hundred day moving average price is $31.81.

Squarespace (NYSE:SQSP) last posted its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The business had revenue of $270.72 million for the quarter, compared to analysts’ expectations of $263.41 million. During the same quarter last year, the firm earned ($0.07) earnings per share. Squarespace’s revenue was up 18.3% on a year-over-year basis. As a group, equities research analysts predict that Squarespace, Inc. will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Squarespace

A number of institutional investors have recently modified their holdings of SQSP. Wellington Management Group LLP boosted its stake in shares of Squarespace by 124.8% in the 3rd quarter. Wellington Management Group LLP now owns 7,015,353 shares of the company’s stock valued at $203,235,000 after purchasing an additional 3,894,084 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Squarespace by 20.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,865,295 shares of the company’s stock valued at $169,918,000 after purchasing an additional 994,880 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Squarespace by 291.3% in the 3rd quarter. Lazard Asset Management LLC now owns 505,910 shares of the company’s stock valued at $14,655,000 after purchasing an additional 376,634 shares during the last quarter. Hawk Ridge Capital Management LP bought a new stake in shares of Squarespace in the 4th quarter valued at $9,648,000. Finally, UBS Group AG boosted its stake in shares of Squarespace by 137.9% in the 4th quarter. UBS Group AG now owns 271,617 shares of the company’s stock valued at $8,966,000 after purchasing an additional 157,462 shares during the last quarter. 92.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Raymond James assumed coverage on shares of Squarespace in a research report on Wednesday, March 27th. They issued an “outperform” rating and a $40.00 target price for the company. Mizuho upped their price objective on shares of Squarespace from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Royal Bank of Canada upped their price objective on shares of Squarespace from $32.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. B. Riley upped their price objective on shares of Squarespace from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, JMP Securities reiterated a “market outperform” rating and set a $45.00 price objective on shares of Squarespace in a research report on Tuesday. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.54.

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.