Insider Selling: Squarespace, Inc. (NYSE:SQSP) CEO Sells 27,240 Shares of Stock

Squarespace, Inc. (NYSE:SQSP - Get Free Report) CEO Anthony Casalena sold 27,240 shares of the business's stock in a transaction on Monday, April 29th. The stock was sold at an average price of $35.62, for a total value of $970,288.80. Following the completion of the transaction, the chief executive officer now directly owns 2,773,318 shares of the company's stock, valued at $98,785,587.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Friday, April 26th, Anthony Casalena sold 40,189 shares of Squarespace stock. The stock was sold at an average price of $35.54, for a total transaction of $1,428,317.06.
• 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 transaction of $1,614,486.73.
• 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 stock was 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 Stock Performance

Shares of SQSP traded down $0.72 during trading hours on Tuesday, hitting $34.84. The stock had a trading volume of 565,307 shares, compared to its average volume of 698,024. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -701.60, a PEG ratio of 3.51 and a beta of 0.51. The firm has a 50-day moving average price of $34.51 and a 200 day moving average price of $31.77. Squarespace, Inc. has a fifty-two week low of $25.59 and a fifty-two week high of $37.89.

Squarespace (NYSE:SQSP - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.12). The company had revenue of $270.72 million during the quarter, compared to analysts' expectations of $263.41 million. The firm's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) EPS. As a group, analysts predict that Squarespace, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Ratings Changes

SQSP has been the topic of several research analyst reports. Piper Sandler reissued 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 target price on Squarespace from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Raymond James assumed coverage on Squarespace in a research note on Wednesday, March 27th. They set an "outperform" rating and a $40.00 price target on the stock. Barclays raised their price objective on Squarespace from $34.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 29th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $45.00 target price on shares of Squarespace in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Squarespace currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.54.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SQSP. Sunbelt Securities Inc. lifted its stake in Squarespace by 195.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company's stock valued at $72,000 after buying an additional 1,638 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Squarespace by 20.4% in the third quarter. Vanguard Group Inc. now owns 5,865,295 shares of the company's stock valued at $169,918,000 after acquiring an additional 994,880 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Squarespace by 45.1% in the third quarter. Envestnet Asset Management Inc. now owns 134,329 shares of the company's stock worth $3,891,000 after acquiring an additional 41,745 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Squarespace by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 341,525 shares of the company's stock worth $9,894,000 after purchasing an additional 28,839 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Squarespace by 291.3% in the 3rd quarter. Lazard Asset Management LLC now owns 505,910 shares of the company's stock valued at $14,655,000 after purchasing an additional 376,634 shares during the last quarter. 92.30% of the stock is 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.

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