Anthony Casalena Sells 11,189 Shares of Squarespace, Inc. (NYSE:SQSP) Stock

Posted by Defense World Staff on Sep 26th, 2023

Squarespace, Inc. (NYSE:SQSP – Get Free Report) CEO Anthony Casalena sold 11,189 shares of the company’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $28.02, for a total value of $313,515.78. Following the sale, the chief executive officer now owns 4,349,690 shares of the company’s stock, valued at $121,878,313.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

On Monday, September 11th, Anthony Casalena sold 18,813 shares of Squarespace stock. The shares were sold at an average price of $31.36, for a total value of $589,975.68.
On Friday, September 8th, Anthony Casalena sold 14,688 shares of Squarespace stock. The stock was sold at an average price of $32.27, for a total value of $473,981.76.
On Monday, August 28th, Anthony Casalena sold 30,910 shares of Squarespace stock. The shares were sold at an average price of $29.11, for a total value of $899,790.10.
On Friday, August 25th, Anthony Casalena sold 42,220 shares of Squarespace stock. The stock was sold at an average price of $29.07, for a total value of $1,227,335.40.
On Monday, August 14th, Anthony Casalena sold 32,998 shares of Squarespace stock. The shares were sold at an average price of $31.07, for a total transaction of $1,025,247.86.
On Tuesday, August 1st, Anthony Casalena sold 52,546 shares of Squarespace stock. The stock was sold at an average price of $32.88, for a total transaction of $1,727,712.48.
On Wednesday, July 19th, Anthony Casalena sold 42,036 shares of Squarespace stock. The stock was sold at an average price of $31.37, for a total transaction of $1,318,669.32.
On Thursday, July 6th, Anthony Casalena sold 57,483 shares of Squarespace stock. The shares were sold at an average price of $30.81, for a total transaction of $1,771,051.23.

Squarespace Price Performance

SQSP opened at $28.90 on Tuesday. Squarespace, Inc. has a 12-month low of $16.86 and a 12-month high of $34.38. The stock has a market capitalization of $3.92 billion, a PE ratio of -17.84 and a beta of 0.42. The firm’s fifty day moving average price is $30.60 and its 200 day moving average price is $30.35.

Squarespace (NYSE:SQSP – Get Free Report) last issued its earnings results on Tuesday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.17). Squarespace had a negative net margin of 23.60% and a negative return on equity of 2.24%. The company had revenue of $247.50 million during the quarter, compared to analyst estimates of $243.34 million. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 EPS. On average, equities research analysts forecast that Squarespace, Inc. will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SQSP. AlpInvest Partners B.V. increased its holdings in shares of Squarespace by 114.7% in the 1st quarter. AlpInvest Partners B.V. now owns 745,360 shares of the company’s stock valued at $23,680,000 after acquiring an additional 398,237 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Squarespace in the first quarter worth $853,000. FORA Capital LLC bought a new stake in Squarespace during the first quarter valued at $625,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Squarespace by 714.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,571 shares of the company’s stock worth $6,372,000 after purchasing an additional 175,954 shares during the period. Finally, Cornercap Investment Counsel Inc. bought a new position in shares of Squarespace in the 1st quarter worth about $1,258,000. Institutional investors own 43.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. The Goldman Sachs Group increased their price target on Squarespace from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. DA Davidson initiated coverage on Squarespace in a research note on Wednesday, July 26th. They issued a “buy” rating and a $40.00 target price for the company. Mizuho raised their target price on Squarespace from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. B. Riley initiated coverage on Squarespace in a report on Wednesday, June 28th. They issued a “buy” rating and a $40.00 price target for the company. Finally, UBS Group started coverage on shares of Squarespace in a research report on Friday. They issued a “buy” rating and a $40.00 price objective for the company. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Squarespace currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Read Our Latest Stock Report on Squarespace

About Squarespace

(Get Free Report)

Squarespace, Inc operates platform for businesses and independent creators to build online presence, grow their brands, and manage their businesses across the internet. Its suite of integrated products 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.