Snap Inc. (NYSE:SNAP) General Counsel Sells $129,800.10 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 12,315 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.54, for a total value of $129,800.10. Following the completion of the sale, the general counsel now owns 1,195,567 shares of the company’s stock, valued at $12,601,276.18. This trade represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Snap Trading Up 7.4 %

NYSE:SNAP opened at $11.42 on Friday. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The stock’s fifty day moving average is $10.82 and its two-hundred day moving average is $12.54.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts predict that Snap Inc. will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

SNAP has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citigroup cut their price objective on Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Argus upgraded Snap to a “hold” rating in a research report on Thursday, August 8th. B. Riley boosted their price objective on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI lifted their price target on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.31.

Institutional Investors Weigh In On Snap

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Snap by 0.9% in the first quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock valued at $1,103,786,000 after purchasing an additional 830,889 shares during the period. Capital World Investors raised its holdings in shares of Snap by 0.8% in the 1st quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock valued at $531,206,000 after buying an additional 385,191 shares during the period. Marshall Wace LLP raised its holdings in shares of Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after buying an additional 12,533,653 shares during the period. Geode Capital Management LLC raised its holdings in shares of Snap by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock valued at $124,742,000 after buying an additional 575,324 shares during the period. Finally, TB Alternative Assets Ltd. raised its holdings in shares of Snap by 105.6% in the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after buying an additional 4,098,847 shares during the period. Hedge funds and other 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.