Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow Sells 8,837 Shares

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 8,837 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the sale, the chief accounting officer now owns 429,892 shares in the company, valued at $4,660,029.28. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Rebecca Morrow also recently made the following trade(s):

• On Monday, December 16th, Rebecca Morrow sold 2,812 shares of Snap stock. The shares were sold at an average price of $11.44, for a total transaction of $32,169.28.
• On Tuesday, December 10th, Rebecca Morrow sold 32,000 shares of Snap stock. The shares were sold at an average price of $12.42, for a total transaction of $397,440.00.

Snap Price Performance

SNAP stock traded down $0.11 during trading on Thursday, reaching $10.68. 15,947,716 shares of the company were exchanged, compared to its average volume of 31,435,543. The company has a market cap of $18.11 billion, a P/E ratio of -25.42 and a beta of 0.99. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.33. The stock’s 50 day moving average price is $11.21 and its 200 day moving average price is $10.73. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNAP. Barclays reiterated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Cantor Fitzgerald lifted their price target on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Snap in a research report on Thursday, December 5th. Susquehanna raised their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Truist Financial raised their price objective on shares of Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.87.

Hedge Funds Weigh In On Snap

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mountain Hill Investment Partners Corp. acquired a new position in Snap during the fourth quarter worth about $27,000. Advisors Asset Management Inc. raised its position in Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after acquiring an additional 1,632 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in Snap during the fourth quarter worth about $30,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Snap in the fourth quarter valued at approximately $32,000. Finally, Brooklyn Investment Group purchased a new position in shares of Snap during the third quarter valued at approximately $41,000. Institutional investors and hedge funds 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.