Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 14,183 Shares

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 14,183 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $125,235.89. Following the transaction, the general counsel now owns 2,256,101 shares in the company, valued at approximately $19,921,371.83. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Snap Price Performance

Shares of SNAP stock traded down $0.27 during trading hours on Tuesday, reaching $8.73. 25,157,896 shares of the company were exchanged, compared to its average volume of 25,410,513. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The stock’s fifty day moving average is $10.56 and its two-hundred day moving average is $10.80. The company has a market cap of $14.80 billion, a price-to-earnings ratio of -20.77 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick 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%. Sell-side analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Guggenheim downgraded shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th. Bank of America upped their target price on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. JMP Securities reissued a “market outperform” rating and issued a $16.00 target price on shares of Snap in a research note on Monday, January 27th. Barclays reissued an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Finally, Susquehanna upped their target price on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.87.

Institutional Trading of Snap

Several institutional investors and hedge funds have recently made changes to their positions in SNAP. Wealth Enhancement Advisory Services LLC grew its stake in shares of Snap by 19.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,115 shares of the company’s stock worth $184,000 after purchasing an additional 2,792 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new stake in Snap in the fourth quarter valued at about $3,838,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Snap in the fourth quarter valued at about $5,135,000. B. Riley Wealth Advisors Inc. bought a new stake in Snap in the fourth quarter valued at about $225,000. Finally, Polar Asset Management Partners Inc. bought a new stake in Snap in the fourth quarter valued at about $4,924,000. 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.