Anthony Casalena Sells 40,189 Shares of Squarespace, Inc. (NYSE:SQSP) Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 40,189 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $35.54, for a total value of $1,428,317.06. Following the completion of the sale, the chief executive officer now owns 2,800,558 shares of the company’s stock, valued at approximately $99,531,831.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• 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 value of $970,288.80.
• 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 value of $1,614,486.73.
• 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.

Squarespace Price Performance

NYSE SQSP traded down $0.72 during trading on Tuesday, reaching $34.84. 565,307 shares of the company’s stock were exchanged, compared to its average volume of 698,024. The business has a 50 day moving average price of $34.51 and a 200-day moving average price of $31.77. The stock has a market capitalization of $4.76 billion, a P/E ratio of -701.60, a PEG ratio of 3.51 and a beta of 0.51. Squarespace, Inc. has a fifty-two week low of $25.59 and a fifty-two week high of $37.89.

Squarespace (NYSE:SQSP) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The firm had revenue of $270.72 million during the quarter, compared to the consensus estimate of $263.41 million. During the same period in the previous year, the company posted ($0.07) EPS. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, analysts forecast that Squarespace, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

SQSP has been the subject of several research reports. Barclays lifted their target price on Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Robert W. Baird upgraded Squarespace from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $30.00 to $39.00 in a research report on Monday, March 4th. Raymond James assumed coverage on Squarespace in a report on Wednesday, March 27th. They set an “outperform” rating and a $40.00 target price on the stock. Piper Sandler reiterated an “overweight” rating and set a $40.00 target price on shares of Squarespace in a report on Thursday, February 29th. Finally, Royal Bank of Canada lifted their target price on Squarespace from $32.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.54.

Institutional Investors Weigh In On Squarespace

A number of institutional investors have recently made changes to their positions in SQSP. Principal Financial Group Inc. boosted its stake in shares of Squarespace by 25.6% in the first quarter. Principal Financial Group Inc. now owns 39,361 shares of the company’s stock valued at $1,434,000 after buying an additional 8,025 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Squarespace by 6.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,733 shares of the company’s stock valued at $756,000 after buying an additional 1,340 shares during the period. Diversified Trust Co boosted its stake in shares of Squarespace by 13.1% in the first quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock valued at $348,000 after buying an additional 1,111 shares during the period. Brooklyn FI LLC bought a new stake in shares of Squarespace in the first quarter valued at approximately $679,000. Finally, FCF Advisors LLC bought a new stake in shares of Squarespace in the first quarter valued at approximately $999,000. Institutional investors own 92.30% of the company’s stock.

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.