Anthony Casalena Sells 45,389 Shares of Squarespace, Inc. (NYSE:SQSP) Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 45,389 shares of Squarespace stock in a transaction on Monday, April 15th. The stock was sold at an average price of $35.57, for a total transaction of $1,614,486.73. Following the sale, the chief executive officer now directly owns 2,877,107 shares of the company’s stock, valued at $102,338,695.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 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.
• On Monday, January 29th, Anthony Casalena sold 66,420 shares of Squarespace stock. The shares were sold at an average price of $32.36, for a total value of $2,149,351.20.
• On Friday, January 26th, Anthony Casalena sold 59,935 shares of Squarespace stock. The stock was sold at an average price of $32.71, for a total value of $1,960,473.85.

Squarespace Stock Performance

NYSE:SQSP opened at $34.49 on Friday. Squarespace, Inc. has a 1 year low of $25.59 and a 1 year high of $37.89. The stock has a fifty day moving average price of $34.10 and a two-hundred day moving average price of $31.48. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of -689.80, a PEG ratio of 3.44 and a beta of 0.51.

Squarespace (NYSE:SQSP) last announced 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 firm had revenue of $270.72 million for the quarter, compared to analyst estimates of $263.41 million. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) EPS. On average, analysts predict that Squarespace, Inc. will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Squarespace

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new position in Squarespace in the 2nd quarter valued at approximately $25,000. Sunbelt Securities Inc. purchased a new position in shares of Squarespace in the first quarter valued at $26,000. Point72 Middle East FZE acquired a new position in shares of Squarespace during the 4th quarter worth $30,000. Neo Ivy Capital Management purchased a new stake in shares of Squarespace in the 2nd quarter worth about $31,000. Finally, Comerica Bank acquired a new stake in Squarespace in the 3rd quarter valued at about $31,000. 92.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SQSP has been the subject of several research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $40.00 price objective on shares of Squarespace in a report on Thursday, February 29th. Mizuho raised 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. B. Riley upped their target price on shares of Squarespace from $41.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Robert W. Baird upgraded Squarespace from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $30.00 to $39.00 in a research report on Monday, March 4th. Finally, Raymond James assumed coverage on Squarespace in a research note on Wednesday, March 27th. They set an “outperform” rating and a $40.00 price objective for the company. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Squarespace currently has a consensus rating of “Moderate Buy” and a consensus target price 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.