Insider Selling: Squarespace, Inc. (NYSE:SQSP) CEO Sells 59,882 Shares of Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 59,882 shares of Squarespace stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.78, for a total value of $2,621,633.96. Following the transaction, the chief executive officer now directly owns 1,975,618 shares of the company’s stock, valued at approximately $86,492,556.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, July 1st, Anthony Casalena sold 60,012 shares of Squarespace stock. The stock was sold at an average price of $43.52, for a total transaction of $2,611,722.24.
• On Wednesday, May 22nd, Anthony Casalena sold 150,000 shares of Squarespace stock. The shares were sold at an average price of $43.62, for a total transaction of $6,543,000.00.
• On Thursday, May 9th, Anthony Casalena sold 66,983 shares of Squarespace stock. The stock was sold at an average price of $36.87, for a total value 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 value of $970,288.80.
• On Friday, April 26th, Anthony Casalena sold 40,189 shares of Squarespace stock. The shares were sold at an average price of $35.54, for a total value of $1,428,317.06.

Squarespace Stock Performance

Shares of NYSE:SQSP traded up $0.02 during trading on Wednesday, reaching $43.83. 698,765 shares of the stock were exchanged, compared to its average volume of 944,037. Squarespace, Inc. has a 12-month low of $26.70 and a 12-month high of $44.29. The firm’s 50-day moving average price is $43.30 and its 200 day moving average price is $36.96. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of -876.00, a price-to-earnings-growth ratio of 5.03 and a beta of 0.62.

Institutional Investors Weigh In On Squarespace

Several institutional investors have recently bought and sold shares of SQSP. Brooklyn FI LLC acquired a new stake in shares of Squarespace in the first quarter valued at about $679,000. Jump Financial LLC boosted its holdings in Squarespace by 137.6% in the 4th quarter. Jump Financial LLC now owns 105,000 shares of the company’s stock worth $3,466,000 after acquiring an additional 60,811 shares during the period. UBS Group AG boosted its holdings in Squarespace by 137.9% in the 4th quarter. UBS Group AG now owns 271,617 shares of the company’s stock worth $8,966,000 after acquiring an additional 157,462 shares during the period. Vanguard Group Inc. grew its position in Squarespace by 20.4% in the third quarter. Vanguard Group Inc. now owns 5,865,295 shares of the company’s stock valued at $169,918,000 after acquiring an additional 994,880 shares in the last quarter. Finally, Hawk Ridge Capital Management LP purchased a new stake in shares of Squarespace during the fourth quarter valued at approximately $9,648,000. 92.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SQSP has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price on shares of Squarespace from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. UBS Group reissued a “neutral” rating and issued a $44.00 price objective (up previously from $43.00) on shares of Squarespace in a research report on Tuesday, May 14th. 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. Piper Sandler downgraded Squarespace from a “strong-buy” rating to a “hold” rating in a report on Monday, May 13th. Finally, Raymond James restated a “market perform” rating on shares of Squarespace in a report on Monday, May 13th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.