Squarespace, Inc. (NYSE:SQSP) CEO Sells $1,614,486.73 in Stock

Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold 45,389 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $35.57, for a total value of $1,614,486.73. Following the completion of the sale, the chief executive officer now owns 2,877,107 shares of the company’s stock, valued at approximately $102,338,695.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, April 2nd, Anthony Casalena sold 51,878 shares of Squarespace stock. The stock was 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 stock was sold at an average price of $31.90, for a total transaction of $854,920.00.
• On Monday, January 29th, Anthony Casalena sold 66,420 shares of Squarespace stock. The shares were sold at an average price of $32.36, for a total transaction of $2,149,351.20.
• On Friday, January 26th, Anthony Casalena sold 59,935 shares of Squarespace stock. The shares were sold at an average price of $32.71, for a total transaction of $1,960,473.85.

Squarespace Trading Down 0.7 %

NYSE SQSP opened at $34.49 on Friday. Squarespace, Inc. has a 12-month low of $25.59 and a 12-month high of $37.89. The company has a fifty day simple moving average of $34.10 and a two-hundred day simple moving average of $31.48. The stock has a market cap of $4.71 billion, a P/E ratio of -689.80, a P/E/G ratio of 3.44 and a beta of 0.51.

Squarespace (NYSE:SQSP) last issued its 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 the consensus estimate of $263.41 million. Squarespace’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the business earned ($0.07) EPS. As a group, sell-side analysts forecast that Squarespace, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SQSP. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 target price on shares of Squarespace in a research report on Thursday, February 29th. Citigroup upped their price objective on Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Royal Bank of Canada lifted their target price on Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th. JMP Securities increased their price target on shares of Squarespace from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Finally, Robert W. Baird upgraded shares of Squarespace from a “neutral” rating to an “outperform” rating and raised their price target for the company from $30.00 to $39.00 in a report on Monday, March 4th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Squarespace has a consensus rating of “Moderate Buy” and an average price target of $38.54.

Institutional Investors Weigh In On Squarespace

A number of institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Squarespace by 6.9% in the first 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 during the last quarter. Diversified Trust Co boosted its position in Squarespace by 13.1% in the 1st quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock worth $348,000 after purchasing an additional 1,111 shares in the last quarter. Brooklyn FI LLC acquired a new stake in shares of Squarespace during the 1st quarter worth approximately $679,000. FCF Advisors LLC purchased a new position in shares of Squarespace during the 1st quarter valued at approximately $999,000. Finally, Renaissance Capital LLC lifted its stake in shares of Squarespace by 15.8% in the 1st quarter. Renaissance Capital LLC now owns 37,042 shares of the company’s stock valued at $1,350,000 after purchasing an additional 5,066 shares during the period. 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.