Anthony Casalena Sells 145,182 Shares of Squarespace, Inc. (NYSE:SQSP) Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 145,182 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $46.33, for a total value of $6,726,282.06. Following the sale, the chief executive officer now directly owns 1,349,263 shares in the company, valued at $62,511,354.79. 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 Wednesday, September 4th, Anthony Casalena sold 38,466 shares of Squarespace stock. The shares were sold at an average price of $45.26, for a total transaction 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 transaction 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 transaction of $2,621,633.96.
• On Monday, July 1st, Anthony Casalena sold 60,012 shares of Squarespace stock. The shares were sold at an average price of $43.52, for a total transaction of $2,611,722.24.

Squarespace Stock Performance

Shares of NYSE SQSP traded up $0.01 during midday trading on Wednesday, reaching $46.41. The stock had a trading volume of 1,278,401 shares, compared to its average volume of 994,536. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of -927.40, a price-to-earnings-growth ratio of 8.29 and a beta of 0.62. Squarespace, Inc. has a 12-month low of $26.70 and a 12-month high of $46.48. The stock has a 50-day moving average of $44.71 and a 200-day moving average of $41.02.

Squarespace (NYSE:SQSP) last issued its earnings results on Friday, August 2nd. The company reported $0.04 earnings per share 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 the consensus estimate of $293.12 million. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, analysts forecast that Squarespace, Inc. will post 0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on SQSP. Mizuho lowered Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a report on Monday, August 5th. Barclays upped their price target on shares of Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. B. Riley downgraded shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a report on Tuesday, June 11th. Finally, UBS Group boosted their target price on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Squarespace currently has a consensus rating of “Hold” and an average price target of $43.14.

Institutional Trading of Squarespace

Institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Squarespace in the 2nd quarter worth approximately $71,000. Bardin Hill Management Partners LP bought a new stake in shares of Squarespace during the second quarter valued at approximately $1,478,000. Water Island Capital LLC purchased a new position in shares of Squarespace in the second quarter worth $37,107,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Squarespace during the second quarter worth $657,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Squarespace by 14.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,561 shares of the company’s stock valued at $2,160,000 after acquiring an additional 6,114 shares during the last quarter. Hedge funds and other institutional investors own 92.30% of the company’s stock.

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.