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

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 38,900 shares of Squarespace stock in a transaction that occurred on Monday, September 30th. The shares were 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 owns 1,229,920 shares of the company’s stock, valued at approximately $57,092,886.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 shares were 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 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 Price Performance

NYSE SQSP opened at $46.48 on Friday. The company has a fifty day moving average of $45.28 and a two-hundred day moving average of $42.07. Squarespace, Inc. has a 1 year low of $26.70 and a 1 year high of $46.49. The company has a market capitalization of $6.39 billion, a PE ratio of -929.60, a P/E/G ratio of 8.30 and a beta of 0.62.

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

Hedge Funds Weigh In On Squarespace

A number of hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC raised its position in Squarespace by 3.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,522 shares of the company’s stock valued at $415,000 after purchasing an additional 352 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Squarespace by 8.4% during the first quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock worth $206,000 after buying an additional 437 shares during the period. Ellsworth Advisors LLC grew its holdings in shares of Squarespace by 5.3% during the second quarter. Ellsworth Advisors LLC now owns 14,370 shares of the company’s stock worth $627,000 after buying an additional 719 shares during the last quarter. Diversified Trust Co increased its position in Squarespace by 13.1% in the 1st quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock valued at $348,000 after acquiring an additional 1,111 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in Squarespace by 9.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,380 shares of the company’s stock valued at $524,000 after acquiring an additional 1,260 shares during the last quarter. 92.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Mizuho cut shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a report on Monday, August 5th. Barclays raised their price objective on shares of Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. UBS Group boosted their target price on shares of Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Finally, B. Riley cut Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Tuesday, June 11th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.