Insider Selling: Squarespace, Inc. (NYSE:SQSP) CEO Sells 45,389 Shares of Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 45,389 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $35.57, for a total value of $1,614,486.73. Following the transaction, 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 filing with the SEC, which is accessible through this link.

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

• 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 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 shares were 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 shares were sold at an average price of $32.71, for a total value of $1,960,473.85.

Squarespace Price Performance

Shares of SQSP stock traded down $0.49 during trading hours on Wednesday, reaching $34.81. 607,305 shares of the company’s stock were exchanged, compared to its average volume of 717,777. The company has a market cap of $4.75 billion, a P/E ratio of -696.40, a price-to-earnings-growth ratio of 3.48 and a beta of 0.51. The company’s 50 day moving average is $33.94 and its two-hundred day moving average is $31.40. Squarespace, Inc. has a 1 year low of $25.59 and a 1 year high of $37.89.

Squarespace (NYSE:SQSP) last issued its 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 during the quarter, compared to analyst estimates of $263.41 million. The company’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the business posted ($0.07) earnings per share. As a group, analysts predict that Squarespace, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Squarespace

Institutional investors and hedge funds have recently modified their holdings of the company. Sunbelt Securities Inc. grew its holdings in shares of Squarespace by 195.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company’s stock worth $72,000 after acquiring an additional 1,638 shares during the period. Vanguard Group Inc. grew its holdings in Squarespace by 20.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,865,295 shares of the company’s stock valued at $169,918,000 after buying an additional 994,880 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Squarespace by 45.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 134,329 shares of the company’s stock valued at $3,891,000 after buying an additional 41,745 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Squarespace by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 341,525 shares of the company’s stock valued at $9,894,000 after buying an additional 28,839 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Squarespace by 291.3% during the 3rd quarter. Lazard Asset Management LLC now owns 505,910 shares of the company’s stock valued at $14,655,000 after buying an additional 376,634 shares during the last quarter. Institutional investors and hedge funds own 92.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Mizuho boosted their target price on Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. JMP Securities upped their price objective on Squarespace from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Robert W. Baird raised Squarespace from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $30.00 to $39.00 in a research note on Monday, March 4th. Barclays upped their price objective on Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Squarespace in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.54.

Squarespace Company Profile

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.