Insider Selling: Snap Inc. (NYSE:SNAP) General Counsel Sells 69,119 Shares of Stock

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

Snap Price Performance

NYSE:SNAP opened at $10.68 on Friday. The company has a fifty day moving average of $11.21 and a 200 day moving average of $10.73. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33. 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 (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 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%. On average, equities research analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Snap

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after buying an additional 2,386,519 shares during the last quarter. Aigen Investment Management LP bought a new position in Snap in the 3rd quarter worth $1,345,000. Invenomic Capital Management LP bought a new position in Snap in the 3rd quarter worth $2,349,000. Jacobs Levy Equity Management Inc. raised its holdings in Snap by 49.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock worth $28,245,000 after purchasing an additional 879,212 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in Snap in the 3rd quarter worth $828,000. 47.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on SNAP shares. UBS Group boosted their price objective 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. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price objective on shares of Snap in a research note on Monday, January 27th. Evercore ISI boosted their price objective on shares of Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $16.00 price objective (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company cut shares of Snap from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $15.00 to $11.00 in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.