Insider Selling: Squarespace, Inc. (NYSE:SQSP) CEO Sells 150,000 Shares of Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 150,000 shares of Squarespace stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $46.38, for a total value of $6,957,000.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, September 30th, Anthony Casalena sold 38,900 shares of Squarespace stock. The shares were 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 shares were 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 shares were 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 shares were sold at an average price of $43.78, for a total value of $2,621,633.96.

Squarespace Trading Down 0.1 %

Shares of SQSP opened at $46.44 on Monday. The stock has a market capitalization of $6.43 billion, a P/E ratio of -1,161.00, a price-to-earnings-growth ratio of 8.32 and a beta of 0.62. The firm’s fifty day simple moving average is $45.62 and its two-hundred day simple moving average is $42.67. Squarespace, Inc. has a 12 month low of $26.70 and a 12 month high of $46.54.

Squarespace (NYSE:SQSP) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The firm had revenue of $296.80 million for the quarter, compared to the consensus estimate of $293.12 million. Squarespace’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. As a group, research analysts predict that Squarespace, Inc. will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

SQSP has been the topic of several recent analyst reports. Barclays upped 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. Mizuho cut Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Monday, August 5th. Finally, UBS Group increased their target price on Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Squarespace has a consensus rating of “Hold” and a consensus target price of $43.14.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its position in shares of Squarespace by 3.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,522 shares of the company’s stock valued at $415,000 after purchasing an additional 352 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Squarespace by 8.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock valued at $206,000 after purchasing an additional 437 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Squarespace by 3.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 17,200 shares of the company’s stock valued at $799,000 after purchasing an additional 600 shares in the last quarter. Ellsworth Advisors LLC grew its position in shares of Squarespace by 5.3% during the 2nd quarter. Ellsworth Advisors LLC now owns 14,370 shares of the company’s stock valued at $627,000 after purchasing an additional 719 shares in the last quarter. Finally, Diversified Trust Co grew its position in shares of Squarespace by 13.1% during the 1st quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock valued at $348,000 after purchasing an additional 1,111 shares in the last quarter. 92.30% of the stock is currently 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.