Snap Inc. (NYSE:SNAP) General Counsel Sells $749,249.96 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 69,119 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $749,249.96. Following the completion of the transaction, the general counsel now directly owns 2,332,140 shares in the company, valued at $25,280,397.60. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Snap Stock Down 1.0 %

Shares of NYSE SNAP traded down $0.11 during midday trading on Thursday, reaching $10.68. The company’s stock had a trading volume of 15,947,716 shares, compared to its average volume of 31,435,543. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The stock has a market capitalization of $18.11 billion, a price-to-earnings ratio of -25.42 and a beta of 0.99. The stock has a 50 day simple moving average of $11.21 and a 200-day simple moving average of $10.73.

Snap (NYSE:SNAP) last posted its quarterly earnings data 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 net margin of 13.02% and a negative return on equity of 25.67%. Equities research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Institutional Trading of Snap

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Snap in the fourth quarter valued at approximately $27,000. Advisors Asset Management Inc. raised its holdings 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 purchasing an additional 1,632 shares during the last quarter. Raiffeisen Bank International AG bought a new position in shares of Snap in the fourth quarter valued at $30,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Snap in the fourth quarter valued at $32,000. Finally, Brooklyn Investment Group bought a new position in shares of Snap in the third quarter valued at $41,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SNAP. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 target price on shares of Snap in a research note on Wednesday, October 30th. UBS Group raised 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, October 30th. Wells Fargo & Company lowered shares of Snap from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $15.00 to $11.00 in a research note on Wednesday, February 5th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $16.00 target price (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Finally, B. Riley increased their price target on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.87.

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.