Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena Sells 150,000 Shares

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 150,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $46.38, for a total value of $6,957,000.00. Following the sale, the chief executive officer now directly owns 973,420 shares of the company’s stock, valued at approximately $45,147,219.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value 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 value 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 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 stock was sold at an average price of $43.78, for a total value of $2,621,633.96.

Squarespace Trading Down 0.1 %

Squarespace stock opened at $46.46 on Friday. The stock has a market cap of $6.43 billion, a PE ratio of -1,161.50, a P/E/G ratio of 8.32 and a beta of 0.62. The stock has a 50-day moving average price of $45.62 and a 200 day moving average price of $42.58. Squarespace, Inc. has a 52 week low of $26.70 and a 52 week high of $46.54.

Squarespace (NYSE:SQSP) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.04 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 company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. On average, equities analysts predict that Squarespace, Inc. will post 0.28 EPS for the current year.

Institutional Trading of Squarespace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in Squarespace by 18.1% during the 4th quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock worth $273,457,000 after purchasing an additional 1,268,698 shares in the last quarter. Vanguard Group Inc. boosted its stake in Squarespace by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock worth $244,114,000 after buying an additional 354,057 shares during the last quarter. Glazer Capital LLC acquired a new stake in Squarespace in the 2nd quarter worth about $96,206,000. Renaissance Technologies LLC boosted its stake in Squarespace by 19.8% in the 2nd 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 during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Squarespace by 24.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock worth $59,643,000 after buying an additional 317,416 shares during the last quarter. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Analysts Set New Price Targets

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