Anthony Casalena Sells 68,659 Shares of Squarespace, Inc. (NYSE:SQSP) Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 68,659 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $44.18, for a total value of $3,033,354.62. Following the completion of the sale, the chief executive officer now directly owns 1,698,304 shares of the company’s stock, valued at approximately $75,031,070.72. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 value 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 value of $2,611,722.24.
• On Wednesday, May 22nd, Anthony Casalena sold 150,000 shares of Squarespace stock. The stock was sold at an average price of $43.62, for a total value of $6,543,000.00.

Squarespace Stock Up 0.7 %

SQSP stock opened at $44.40 on Thursday. The stock has a market capitalization of $6.11 billion, a P/E ratio of -888.00, a P/E/G ratio of 5.03 and a beta of 0.62. The firm has a 50-day simple moving average of $43.85 and a 200-day simple moving average of $38.72. Squarespace, Inc. has a 52 week low of $26.70 and a 52 week high of $44.56.

Squarespace (NYSE:SQSP) last released its earnings results on Friday, August 2nd. The company reported $0.04 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 analyst estimates of $293.12 million. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. On average, analysts expect that Squarespace, Inc. will post 0.44 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SQSP shares. Raymond James reiterated a “market perform” rating on shares of Squarespace in a report on Monday, May 13th. Baird R W lowered shares of Squarespace from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 13th. B. Riley downgraded shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a research report on Tuesday, June 11th. JMP Securities restated a “market outperform” rating and set a $45.00 target price on shares of Squarespace in a research report on Tuesday, April 30th. Finally, UBS Group restated a “neutral” rating and set a $44.00 target price (up from $43.00) on shares of Squarespace in a research report on Tuesday, May 14th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.64.

Institutional Trading of Squarespace

Several large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in Squarespace by 18.1% in the 4th quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock valued at $273,457,000 after buying an additional 1,268,698 shares in the last quarter. Vanguard Group Inc. grew 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 buying an additional 354,057 shares in the last quarter. Glazer Capital LLC purchased a new stake in Squarespace in the 2nd quarter valued at $96,206,000. Renaissance Technologies LLC grew its holdings in Squarespace by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,769,994 shares of the company’s stock valued at $77,225,000 after buying an additional 292,600 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Squarespace by 24.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock valued at $59,643,000 after buying an additional 317,416 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.