Snap Inc. (NYSE:SNAP) General Counsel Sells $221,580.00 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $12.31, for a total value of $221,580.00. Following the transaction, the general counsel now owns 471,058 shares in the company, valued at approximately $5,798,723.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Snap Stock Performance

NYSE:SNAP opened at $11.81 on Thursday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a market cap of $19.60 billion, a P/E ratio of -20.36 and a beta of 0.99. The stock has a 50 day simple moving average of $10.34 and a 200 day simple moving average of $12.73. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.90.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.21) EPS. Research analysts anticipate that Snap Inc. will post -0.41 earnings per share for the current year.

Institutional Investors Weigh In On Snap

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Snap by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock worth $1,103,786,000 after acquiring an additional 830,889 shares during the period. Capital World Investors raised its position in Snap by 0.8% during the first quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock valued at $531,206,000 after purchasing an additional 385,191 shares in the last quarter. Marshall Wace LLP lifted its stake in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after purchasing an additional 12,533,653 shares during the last quarter. Ossiam boosted its holdings in shares of Snap by 7.1% in the 1st quarter. Ossiam now owns 11,334,804 shares of the company’s stock valued at $130,124,000 after purchasing an additional 751,846 shares in the last quarter. Finally, TB Alternative Assets Ltd. increased its stake 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 purchasing an additional 4,098,847 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

SNAP has been the subject of several research analyst reports. Morgan Stanley upgraded Snap from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $12.00 to $16.00 in a research report on Tuesday, July 23rd. Roth Mkm reiterated a “neutral” rating and issued a $14.00 price target on shares of Snap in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $14.00 price objective on shares of Snap in a report on Wednesday, September 18th. Argus upgraded Snap to a “hold” rating in a report on Thursday, August 8th. Finally, Cantor Fitzgerald boosted their price target on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Snap currently has an average rating of “Hold” and a consensus price target of $14.31.

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.