Insider Selling: Squarespace, Inc. (NYSE:SQSP) CEO Sells $6,543,000.00 in Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 150,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $43.62, for a total transaction of $6,543,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,448,389 shares in the company, valued at $106,798,728.18. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, May 9th, Anthony Casalena sold 66,983 shares of Squarespace stock. The shares were sold at an average price of $36.87, for a total transaction of $2,469,663.21.
• On Monday, April 29th, Anthony Casalena sold 27,240 shares of Squarespace stock. The stock was sold at an average price of $35.62, for a total transaction 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 transaction 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.

Squarespace Stock Up 0.3 %

Shares of NYSE SQSP opened at $43.53 on Friday. The firm has a 50-day simple moving average of $37.43 and a 200-day simple moving average of $33.18. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of -870.60, a price-to-earnings-growth ratio of 4.98 and a beta of 0.52. Squarespace, Inc. has a 52 week low of $26.70 and a 52 week high of $44.29.

Squarespace (NYSE:SQSP) last issued 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 for the quarter, compared to analyst estimates of $263.41 million. The firm’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the business earned ($0.07) EPS. As a group, equities research analysts expect that Squarespace, Inc. will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Squarespace

Hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. raised its position in shares of Squarespace by 195.2% in the third quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company’s stock valued at $72,000 after buying an additional 1,638 shares during the last quarter. International Assets Investment Management LLC increased its position in Squarespace by 3,201.0% during the fourth quarter. International Assets Investment Management LLC now owns 3,301 shares of the company’s stock worth $100,000 after purchasing an additional 3,201 shares during the last quarter. Amalgamated Bank increased its position in Squarespace by 12.4% during the third quarter. Amalgamated Bank now owns 5,106 shares of the company’s stock worth $148,000 after purchasing an additional 565 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Squarespace by 8.4% during the first quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock worth $206,000 after purchasing an additional 437 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in Squarespace during the fourth quarter worth about $244,000. 92.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Squarespace from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Raymond James reissued a “market perform” rating on shares of Squarespace in a report on Monday, May 13th. Barclays increased their price target on shares of Squarespace from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 14th. Piper Sandler downgraded shares of Squarespace from a “strong-buy” rating to a “hold” rating in a report on Monday, May 13th. Finally, B. Riley increased their price objective on shares of Squarespace from $41.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Squarespace has an average rating of “Hold” and a consensus target price of $42.08.

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.