Insider Selling: Snap Inc. (NYSE:SNAP) General Counsel Sells 18,000 Shares of Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total transaction of $195,120.00. Following the sale, the general counsel now owns 498,498 shares in the company, valued at $5,403,718.32. This trade represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Snap Stock Performance

SNAP stock traded up $0.47 during midday trading on Thursday, reaching $11.24. 16,367,511 shares of the company were exchanged, compared to its average volume of 27,707,576. Snap Inc. has a one year low of $8.29 and a one year high of $17.75. The firm has a market capitalization of $18.85 billion, a price-to-earnings ratio of -19.38 and a beta of 0.97. The business has a 50-day moving average price of $11.51 and a two-hundred day moving average price of $11.68. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. Snap’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) EPS. Equities research analysts forecast that Snap Inc. will post -0.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SNAP shares. Citigroup raised their price objective on shares of Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Bank of America boosted their price target on Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 price objective (up from $12.00) on shares of Snap in a research report on Wednesday, October 30th. Cantor Fitzgerald lifted their target price on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Benchmark reaffirmed a “hold” rating on shares of Snap in a research report on Friday, October 25th. One research 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’s stock. According to MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus target price of $37.10.

Hedge Funds Weigh In On Snap

A number of large investors have recently made changes to their positions in SNAP. V Square Quantitative Management LLC acquired a new position in shares of Snap during the 3rd quarter worth approximately $29,000. Paladin Wealth LLC bought a new stake in shares of Snap in the third quarter valued at approximately $30,000. Advisors Asset Management Inc. grew 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 buying an additional 1,632 shares in the last quarter. Hollencrest Capital Management bought a new position in Snap during the 2nd quarter worth $33,000. Finally, Rothschild Investment LLC acquired a new position in Snap in the 2nd quarter valued at $40,000. 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.