Snap Inc. (NYSE:SNAP) SVP Eric Young Sells 112,020 Shares

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 112,020 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $1,181,811.00. Following the transaction, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at $29,445,556.40. The trade was a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Snap Stock Performance

NYSE:SNAP opened at $10.60 on Thursday. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.90. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The stock’s 50 day simple moving average is $10.79 and its 200-day simple moving average is $12.55.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SNAP. V Square Quantitative Management LLC purchased a new stake in Snap in the 3rd quarter valued at approximately $29,000. Paladin Wealth LLC acquired a new stake in shares of Snap in the 3rd quarter valued at approximately $30,000. Advisors Asset Management Inc. boosted its stake in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after buying an additional 1,632 shares in the last quarter. Hollencrest Capital Management acquired a new position in Snap during the second quarter worth $33,000. Finally, Blue Trust Inc. raised its position in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SNAP. Barclays reduced their target price on shares of Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Cantor Fitzgerald lifted their price objective on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Loop Capital raised their price target on Snap from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Susquehanna lowered their price objective on Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Piper Sandler reissued a “neutral” rating and set a $13.00 target price (up previously from $12.00) on shares of Snap in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snap currently has an average rating of “Hold” and a consensus target price 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.