Snap Inc. (NYSE:SNAP) Director Sells $77,208.00 in Stock

Snap Inc. (NYSE:SNAP) Director Joanna Coles sold 6,434 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total transaction of $77,208.00. Following the completion of the transaction, the director now owns 54,761 shares of the company’s stock, valued at approximately $657,132. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Snap Stock Performance

Shares of SNAP stock traded up $0.37 during midday trading on Friday, hitting $12.53. The company had a trading volume of 49,720,482 shares, compared to its average volume of 27,676,689. The stock has a market cap of $20.79 billion, a price-to-earnings ratio of -22.28 and a beta of 1.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The company’s 50 day simple moving average is $10.12 and its 200 day simple moving average is $12.69. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.63%. Research analysts anticipate that Snap Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Snap

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in Snap during the second quarter worth about $33,000. Blue Trust Inc. increased its position in Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC purchased a new position in shares of Snap during the 2nd quarter worth approximately $40,000. V Square Quantitative Management LLC acquired a new stake in shares of Snap in the 3rd quarter valued at approximately $29,000. Finally, Paladin Wealth LLC purchased a new stake in shares of Snap in the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SNAP. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of Snap in a research note on Wednesday. Hsbc Global Res lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price target (up previously from $12.00) on shares of Snap in a research note on Wednesday. Wolfe Research initiated coverage on shares of Snap in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.25.

About Snap

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.