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 business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $35.57, for a total transaction of $1,614,486.73. Following the completion of the transaction, the chief executive officer now directly owns 2,877,107 shares in the company, valued at $102,338,695.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, April 2nd, Anthony Casalena sold 51,878 shares of Squarespace stock. The shares were 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 shares were 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 Stock Performance

SQSP traded down $0.49 during midday trading on Wednesday, hitting $34.81. The stock had a trading volume of 607,305 shares, 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 business has a fifty day moving average of $33.94 and a 200 day moving average of $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 the consensus estimate of $0.16 by ($0.12). The business had revenue of $270.72 million during the quarter, compared to analyst estimates of $263.41 million. Squarespace’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) earnings per share. On average, equities research analysts anticipate that Squarespace, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SQSP shares. JMP Securities upped their price target on Squarespace from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Barclays upped their price target on Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Citigroup upped their price target on Squarespace from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Royal Bank of Canada upped their price target on Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. Finally, B. Riley upped their price target on Squarespace from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.54.

Institutional Trading of Squarespace

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its stake in shares of Squarespace by 195.2% during the third quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company’s stock valued at $72,000 after purchasing an additional 1,638 shares during the period. Vanguard Group Inc. boosted its stake in shares of Squarespace by 20.4% during the third quarter. Vanguard Group Inc. now owns 5,865,295 shares of the company’s stock valued at $169,918,000 after purchasing an additional 994,880 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Squarespace by 45.1% during the third quarter. Envestnet Asset Management Inc. now owns 134,329 shares of the company’s stock valued at $3,891,000 after purchasing an additional 41,745 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Squarespace by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 341,525 shares of the company’s stock valued at $9,894,000 after purchasing an additional 28,839 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Squarespace by 291.3% during the third quarter. Lazard Asset Management LLC now owns 505,910 shares of the company’s stock valued at $14,655,000 after purchasing an additional 376,634 shares during the period. 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.