Anthony Casalena Sells 38,466 Shares of Squarespace, Inc. (NYSE:SQSP) Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 38,466 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $45.26, for a total transaction of $1,740,971.16. Following the transaction, the chief executive officer now directly owns 1,527,820 shares in the company, valued at $69,149,133.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Thursday, August 8th, Anthony Casalena sold 68,659 shares of Squarespace stock. The stock was sold at an average price of $44.18, for a total transaction 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 transaction 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 transaction of $2,611,722.24.

Squarespace Stock Up 0.2 %

NYSE:SQSP traded up $0.11 during trading hours on Friday, reaching $45.30. The company had a trading volume of 972,409 shares, compared to its average volume of 917,105. The stock has a 50-day moving average of $44.32 and a two-hundred day moving average of $40.14. Squarespace, Inc. has a one year low of $26.70 and a one year high of $45.53. The firm has a market capitalization of $6.23 billion, a PE ratio of -909.80, a PEG ratio of 5.18 and a beta of 0.62.

Squarespace (NYSE:SQSP) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $296.80 million during the quarter, compared to analyst estimates of $293.12 million. During the same quarter last year, the company posted $0.03 EPS. The firm’s revenue was up 19.9% compared to the same quarter last year. As a group, sell-side analysts expect that Squarespace, Inc. will post 0.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Squarespace from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 14th. The Goldman Sachs Group upped their price target on shares of Squarespace from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Mizuho cut shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a report on Monday, August 5th. Raymond James reaffirmed a “market perform” rating on shares of Squarespace in a report on Monday, May 13th. Finally, Baird R W lowered shares of Squarespace from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 13th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.64.

Hedge Funds Weigh In On Squarespace

Hedge funds have recently added to or reduced their stakes in the stock. Glazer Capital LLC acquired a new stake in shares of Squarespace during the second quarter worth about $96,206,000. Wellington Management Group LLP grew its holdings in shares of Squarespace by 18.1% during the fourth quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock worth $273,457,000 after buying an additional 1,268,698 shares in the last quarter. Kodai Capital Management LP bought a new position in shares of Squarespace during the first quarter worth about $36,938,000. Water Island Capital LLC bought a new position in shares of Squarespace during the second quarter worth about $37,107,000. Finally, Vanguard Group Inc. grew its holdings in shares of Squarespace by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company’s stock worth $209,449,000 after buying an additional 479,712 shares in the last quarter. Institutional investors and hedge funds 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.