Insider Selling: Squarespace, Inc. (NYSE:SQSP) CEO Sells 92,511 Shares of Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 92,511 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.51, for a total transaction of $4,302,686.61. Following the transaction, the chief executive officer now directly owns 880,909 shares of the company’s stock, valued at approximately $40,971,077.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, October 11th, Anthony Casalena sold 150,000 shares of Squarespace stock. The stock was sold at an average price of $46.38, for a total transaction of $6,957,000.00.
• On Monday, September 30th, Anthony Casalena sold 38,900 shares of Squarespace stock. The shares were sold at an average price of $46.42, for a total transaction of $1,805,738.00.
• On Tuesday, September 17th, Anthony Casalena sold 145,182 shares of Squarespace stock. The stock was sold at an average price of $46.33, for a total value of $6,726,282.06.
• On Wednesday, September 4th, Anthony Casalena sold 38,466 shares of Squarespace stock. The shares were sold at an average price of $45.26, for a total value of $1,740,971.16.
• 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 value of $3,033,354.62.

Squarespace Price Performance

NYSE:SQSP opened at $46.57 on Thursday. The firm has a 50-day moving average of $45.76 and a two-hundred day moving average of $42.84. The stock has a market cap of $6.40 billion, a P/E ratio of -931.40, a PEG ratio of 8.32 and a beta of 0.62. Squarespace, Inc. has a 1-year low of $26.70 and a 1-year high of $46.69.

Squarespace (NYSE:SQSP) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.04 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 business posted $0.03 EPS. The business’s quarterly revenue was up 19.9% on a year-over-year basis. As a group, equities analysts expect that Squarespace, Inc. will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On Squarespace

A number of institutional investors have recently made changes to their positions in SQSP. Glazer Capital LLC acquired a new stake in shares of Squarespace during the second quarter worth approximately $96,206,000. Wellington Management Group LLP grew its holdings in Squarespace by 18.1% during the 4th quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock worth $273,457,000 after acquiring an additional 1,268,698 shares in the last quarter. Kodai Capital Management LP bought a new stake in shares of Squarespace in the 1st quarter worth about $36,938,000. Water Island Capital LLC acquired a new stake in shares of Squarespace in the 2nd quarter valued at about $37,107,000. Finally, Vanguard Group Inc. raised its stake in shares of Squarespace by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company’s stock valued at $209,449,000 after purchasing an additional 479,712 shares in the last quarter. 92.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on SQSP shares. William Blair reiterated a “market perform” rating on shares of Squarespace in a report on Monday. UBS Group boosted their price objective on shares of Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Mizuho downgraded shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research note on Monday, August 5th. Finally, Barclays lifted their target price on shares of Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.14.

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.