Insider Selling: Squarespace, Inc. (NYSE:SQSP) CEO Sells 38,900 Shares of Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 38,900 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $46.42, for a total value of $1,805,738.00. Following the completion of the transaction, the chief executive officer now owns 1,229,920 shares in the company, valued at $57,092,886.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, September 17th, Anthony Casalena sold 145,182 shares of Squarespace stock. The shares were 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 shares were sold at an average price of $44.18, for a total value 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 value of $2,621,633.96.

Squarespace Trading Up 0.0 %

Shares of SQSP stock traded up $0.02 on Wednesday, reaching $46.43. 562,903 shares of the stock were exchanged, compared to its average volume of 1,005,621. The business’s 50 day moving average price is $45.23 and its 200 day moving average price is $42.04. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of -928.60, a PEG ratio of 8.30 and a beta of 0.62. Squarespace, Inc. has a twelve month low of $26.70 and a twelve month high of $46.48.

Squarespace (NYSE:SQSP) last issued 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 analysts’ expectations of $293.12 million. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. Equities research analysts forecast 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 and hedge funds have recently modified their holdings of SQSP. UBS Group AG increased its holdings in Squarespace by 137.9% in the fourth quarter. UBS Group AG now owns 271,617 shares of the company’s stock valued at $8,966,000 after buying an additional 157,462 shares in the last quarter. US Bancorp DE increased its holdings in Squarespace by 33.8% in the fourth quarter. US Bancorp DE now owns 18,486 shares of the company’s stock valued at $610,000 after buying an additional 4,665 shares in the last quarter. Hawk Ridge Capital Management LP purchased a new position in Squarespace in the fourth quarter valued at about $9,648,000. Teachers Retirement System of The State of Kentucky increased its holdings in Squarespace by 7.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 56,955 shares of the company’s stock valued at $1,880,000 after buying an additional 3,961 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of 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 purchasing an additional 1,268,698 shares in the last quarter. Institutional investors and hedge funds own 92.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SQSP. Barclays boosted their target price on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. UBS Group boosted their target price on Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. B. Riley lowered 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. Finally, Mizuho lowered Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a research report on Monday, August 5th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.