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 company’s stock in a transaction dated 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 sale, the chief executive officer now owns 2,800,558 shares in the company, valued at approximately $99,531,831.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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 shares were 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

Shares of NYSE:SQSP opened at $34.20 on Thursday. The company has a market capitalization of $4.67 billion, a P/E ratio of -684.00, a P/E/G ratio of 3.51 and a beta of 0.51. Squarespace, Inc. has a 1 year low of $25.59 and a 1 year high of $37.89. The business’s 50 day simple moving average is $34.58 and its 200 day simple moving average is $31.81.

Squarespace (NYSE:SQSP) last issued its quarterly earnings results 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 company had revenue of $270.72 million during the quarter, compared to analyst estimates of $263.41 million. Squarespace’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) earnings per share. On average, sell-side analysts anticipate that Squarespace, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SQSP has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $45.00 price objective on shares of Squarespace in a research note on Tuesday. Citigroup upped their price objective on Squarespace from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Barclays upped their target price on Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 target price on shares of Squarespace in a research report on Thursday, February 29th. Finally, Robert W. Baird raised Squarespace from a “neutral” rating to an “outperform” rating and upped their target price for the company from $30.00 to $39.00 in a research report on Monday, March 4th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.54.

Institutional Investors Weigh In On Squarespace

A number of large investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in shares of Squarespace by 25.6% in the 1st quarter. Principal Financial Group Inc. now owns 39,361 shares of the company’s stock valued at $1,434,000 after purchasing an additional 8,025 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Squarespace by 6.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,733 shares of the company’s stock valued at $756,000 after purchasing an additional 1,340 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Squarespace by 13.1% in the 1st quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock valued at $348,000 after purchasing an additional 1,111 shares in the last quarter. Brooklyn FI LLC acquired a new stake in shares of Squarespace in the 1st quarter valued at $679,000. Finally, FCF Advisors LLC acquired a new stake in shares of Squarespace in the 1st quarter valued at $999,000. 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.