Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena Sells 66,983 Shares

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 66,983 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $36.87, for a total value of $2,469,663.21. Following the transaction, the chief executive officer now owns 2,706,335 shares in the company, valued at $99,782,571.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, April 29th, Anthony Casalena sold 27,240 shares of Squarespace stock. The shares were sold at an average price of $35.62, for a total value of $970,288.80.
• 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 value 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 stock was 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.

Squarespace Price Performance

NYSE SQSP opened at $43.16 on Thursday. Squarespace, Inc. has a 12 month low of $26.70 and a 12 month high of $43.36. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of -863.10, a price-to-earnings-growth ratio of 4.96 and a beta of 0.52. The firm’s fifty day moving average price is $35.80 and its 200 day moving average price is $32.46.

Squarespace (NYSE:SQSP) last posted its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The firm had revenue of $270.72 million during the quarter, compared to analyst estimates of $263.41 million. During the same quarter in the prior year, the business earned ($0.07) EPS. The business’s quarterly revenue was up 18.3% on a year-over-year basis. As a group, sell-side analysts forecast that Squarespace, Inc. will post 0.44 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup boosted their price target on shares of Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Mizuho upgraded Squarespace from a “neutral” rating to a “buy” rating and upped their price target for the stock from $34.00 to $50.00 in a report on Friday, May 10th. Raymond James reiterated a “market perform” rating on shares of Squarespace in a research note on Monday. JMP Securities restated a “market outperform” rating and set a $45.00 target price on shares of Squarespace in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group lifted their price target on shares of Squarespace from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SQSP. Wellington Management Group LLP lifted its stake in shares of Squarespace by 18.1% in the 4th quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock worth $273,457,000 after acquiring an additional 1,268,698 shares during the period. Vanguard Group Inc. boosted its holdings in Squarespace by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock valued at $244,114,000 after purchasing an additional 354,057 shares in the last quarter. Acadian Asset Management LLC increased its position 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 purchasing an additional 317,416 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Squarespace by 17.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 912,135 shares of the company’s stock worth $26,425,000 after buying an additional 134,598 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Squarespace by 32.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,091 shares of the company’s stock valued at $15,183,000 after buying an additional 127,362 shares during the period. 92.30% of the stock is owned by hedge funds and other institutional investors.

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.