Squarespace, Inc. (NYSE:SQSP) CEO Sells $3,033,354.62 in Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 68,659 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $44.18, for a total transaction of $3,033,354.62. Following the completion of the transaction, the chief executive officer now directly owns 1,698,304 shares in the company, valued at approximately $75,031,070.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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.
• 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.

Squarespace Stock Down 0.2 %

SQSP stock opened at $44.08 on Wednesday. The firm has a 50 day moving average of $43.84 and a 200 day moving average of $38.68. The stock has a market capitalization of $6.10 billion, a PE ratio of -881.60, a price-to-earnings-growth ratio of 5.03 and a beta of 0.62. Squarespace, Inc. has a 52 week low of $26.70 and a 52 week high of $44.56.

Squarespace (NYSE:SQSP) last released its earnings results on Friday, August 2nd. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $296.80 million for the quarter, compared to the consensus estimate of $293.12 million. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. On average, equities research analysts expect that Squarespace, Inc. will post 0.44 earnings per share for the current year.

Analyst Ratings Changes

SQSP has been the topic of several recent analyst reports. Baird R W downgraded shares of Squarespace from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 13th. B. Riley downgraded shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research report on Tuesday, June 11th. Raymond James reissued a “market perform” rating on shares of Squarespace in a research report on Monday, May 13th. Royal Bank of Canada raised their target price on shares of Squarespace from $35.00 to $38.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 8th. Finally, Barclays raised their target price on shares of Squarespace from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 14th. Ten 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 has an average rating of “Hold” and an average target price of $42.64.

Institutional Trading of Squarespace

Several institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its stake in Squarespace by 3.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,522 shares of the company’s stock valued at $415,000 after acquiring an additional 352 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Squarespace by 8.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock valued at $206,000 after acquiring an additional 437 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Squarespace by 6.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,658 shares of the company’s stock valued at $319,000 after acquiring an additional 572 shares during the period. Ellsworth Advisors LLC lifted its stake in Squarespace by 5.3% during the 2nd quarter. Ellsworth Advisors LLC now owns 14,370 shares of the company’s stock valued at $627,000 after acquiring an additional 719 shares during the period. Finally, Diversified Trust Co lifted its stake in Squarespace by 13.1% during the 1st quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock valued at $348,000 after acquiring an additional 1,111 shares during the period. 92.30% of the stock is currently owned by institutional investors and hedge funds.

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.