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 that occurred on Monday, October 14th. The stock was sold at an average price of $46.51, for a total value of $4,302,686.61. Following the transaction, the chief executive officer now owns 880,909 shares of the company’s stock, valued at $40,971,077.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed 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 shares were 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 stock was 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 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.

Squarespace Price Performance

SQSP traded down $0.10 during mid-day trading on Wednesday, hitting $46.57. The stock had a trading volume of 3,820,724 shares, compared to its average volume of 1,060,231. The stock’s fifty day simple moving average is $45.71 and its 200-day simple moving average is $42.81. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of -931.40, a price-to-earnings-growth ratio of 8.32 and a beta of 0.62. Squarespace, Inc. has a 1-year low of $26.70 and a 1-year high of $46.69.

Squarespace (NYSE:SQSP) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $296.80 million for the quarter, compared to analyst estimates of $293.12 million. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share. As a group, research analysts expect that Squarespace, Inc. will post 0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SQSP. Barclays raised their target price on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Mizuho cut shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research report on Monday, August 5th. UBS Group upped their target price on shares of Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Finally, William Blair restated a “market perform” rating on shares of Squarespace in a research report on Monday. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.14.

Institutional Investors Weigh In On Squarespace

Several large investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in Squarespace by 18.1% in the 4th quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock valued at $273,457,000 after purchasing an additional 1,268,698 shares during the period. Vanguard Group Inc. grew its position in shares of Squarespace by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock worth $244,114,000 after purchasing an additional 354,057 shares in the last quarter. Glazer Capital LLC bought a new stake in shares of Squarespace in the second quarter valued at approximately $96,206,000. Renaissance Technologies LLC grew its position in Squarespace by 19.8% during the second quarter. Renaissance Technologies LLC now owns 1,769,994 shares of the company’s stock worth $77,225,000 after buying an additional 292,600 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Squarespace by 24.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock worth $59,643,000 after acquiring an additional 317,416 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.