Snap Inc. (NYSE:SNAP) General Counsel Sells $206,400.00 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 24,000 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $8.60, for a total transaction of $206,400.00. Following the completion of the transaction, the general counsel now owns 507,660 shares in the company, valued at $4,365,876. This represents a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Snap Trading Up 0.4 %

Shares of Snap stock opened at $8.06 on Friday. The stock has a market cap of $13.66 billion, a P/E ratio of -19.18 and a beta of 0.92. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 12-month low of $7.66 and a 12-month high of $17.33. The business’s 50 day moving average is $9.95 and its 200-day moving average is $10.77.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Equities research analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SNAP has been the topic of a number of analyst reports. Citigroup increased their price target on Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. BMO Capital Markets restated an “outperform” rating and set a $16.00 target price (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. Wells Fargo & Company cut their price target on shares of Snap from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, March 31st. JMP Securities restated a “market outperform” rating and set a $16.00 price objective on shares of Snap in a report on Monday, January 27th. Finally, Susquehanna increased their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.80.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently bought and sold shares of SNAP. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Snap in the fourth quarter valued at approximately $27,000. Raiffeisen Bank International AG acquired a new stake in Snap during the 4th quarter valued at $30,000. Comprehensive Financial Planning Inc. PA bought a new position in Snap during the fourth quarter worth $32,000. Osterweis Capital Management Inc. acquired a new position in shares of Snap in the fourth quarter valued at $43,000. Finally, Blue Trust Inc. raised its position in shares of Snap by 128.0% in the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock valued at $47,000 after purchasing an additional 2,453 shares during the period. Institutional investors own 47.52% of the company’s stock.

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.