Insider Selling: 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 stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $44.18, for a total value of $3,033,354.62. Following the completion of the sale, the chief executive officer now owns 1,698,304 shares of the company’s stock, valued at approximately $75,031,070.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 value 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 value 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 value of $6,543,000.00.

Squarespace Trading Up 0.7 %

Squarespace stock opened at $44.40 on Thursday. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of -888.00, a PEG ratio of 5.03 and a beta of 0.62. The stock has a fifty day simple moving average of $43.85 and a two-hundred day simple moving average of $38.72. Squarespace, Inc. has a 12 month low of $26.70 and a 12 month high of $44.56.

Squarespace (NYSE:SQSP) last posted 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 business had revenue of $296.80 million during the quarter, compared to analyst estimates of $293.12 million. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share. On average, equities research analysts forecast that Squarespace, Inc. will post 0.44 EPS for the current fiscal year.

Institutional Trading of Squarespace

A number of institutional investors and hedge funds have recently modified their holdings of SQSP. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Squarespace in the second quarter worth $71,000. CWM LLC grew its holdings in shares of Squarespace by 185.6% in the second quarter. CWM LLC now owns 2,016 shares of the company’s stock worth $88,000 after acquiring an additional 1,310 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Squarespace by 3,201.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,301 shares of the company’s stock worth $100,000 after acquiring an additional 3,201 shares during the period. Quest Partners LLC grew its holdings in shares of Squarespace by 1,828.9% in the second quarter. Quest Partners LLC now owns 2,739 shares of the company’s stock worth $120,000 after acquiring an additional 2,597 shares during the period. Finally, Sagefield Capital LP bought a new stake in shares of Squarespace in the second quarter worth $197,000. Institutional investors own 92.30% of the company’s stock.

Analyst Upgrades and Downgrades

SQSP has been the subject of a number of research analyst reports. William Blair restated an “outperform” rating on shares of Squarespace in a research note on Wednesday, May 8th. Robert W. Baird restated a “neutral” rating and issued a $44.00 target price (down previously from $45.00) on shares of Squarespace in a research note on Monday, May 13th. The Goldman Sachs Group lifted their price objective on Squarespace from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. JMP Securities reiterated a “market outperform” rating and set a $45.00 price objective on shares of Squarespace in a research note on Tuesday, April 30th. Finally, UBS Group reiterated a “neutral” rating and set a $44.00 price objective (up previously from $43.00) on shares of Squarespace in a research note on Tuesday, May 14th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $42.64.

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.