Michael J. O’sullivan Sells 18,000 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total transaction of $239,040.00. Following the transaction, the general counsel now owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Snap Stock Down 27.0 %

SNAP traded down $3.46 during midday trading on Friday, hitting $9.36. 124,787,671 shares of the company’s stock traded hands, compared to its average volume of 28,009,746. The company has a market cap of $15.35 billion, a PE ratio of -11.64 and a beta of 1.03. The stock’s fifty day simple moving average is $15.33 and its 200-day simple moving average is $13.91. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76. Snap Inc. has a one year low of $8.28 and a one year high of $17.90.

Analyst Upgrades and Downgrades

SNAP has been the subject of several research reports. Susquehanna reduced their price objective on shares of Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday. Bank of America decreased their target price on shares of Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Friday. Benchmark reiterated a “hold” rating on shares of Snap in a report on Tuesday. Wolfe Research assumed coverage on shares of Snap in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, Royal Bank of Canada raised their target price on shares of Snap from $13.00 to $16.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.23.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNAP. SRS Investment Management LLC raised its position in shares of Snap by 23.6% in the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after purchasing an additional 12,452,415 shares during the period. Carmignac Gestion bought a new position in shares of Snap in the fourth quarter valued at approximately $110,103,000. Contrarius Investment Management Ltd bought a new position in shares of Snap in the fourth quarter valued at approximately $80,644,000. Vanguard Group Inc. grew its stake in shares of Snap by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after acquiring an additional 3,503,230 shares during the last quarter. Finally, TB Alternative Assets Ltd. grew its stake in shares of Snap by 144.5% in the first quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock worth $58,488,000 after acquiring an additional 3,011,400 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Company Profile

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.