Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 24,000 Shares

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 24,000 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $8.60, for a total value of $206,400.00. Following the transaction, the general counsel now directly owns 507,660 shares of the company’s stock, valued at approximately $4,365,876. This represents a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Snap Stock Performance

Shares of NYSE SNAP traded down $0.07 during mid-day trading on Wednesday, reaching $8.86. 33,849,985 shares of the company’s stock were exchanged, compared to its average volume of 27,199,387. The firm has a 50-day moving average price of $10.06 and a two-hundred day moving average price of $10.80. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The firm has a market capitalization of $15.03 billion, a price-to-earnings ratio of -21.09 and a beta of 0.92. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share 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%. Analysts predict that Snap Inc. will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Snap

Several institutional investors and hedge funds have recently bought and sold shares of SNAP. Mountain Hill Investment Partners Corp. bought a new stake in Snap in the 4th quarter valued at about $27,000. Raiffeisen Bank International AG purchased a new stake in Snap in the 4th quarter worth approximately $30,000. Comprehensive Financial Planning Inc. PA bought a new position in Snap in the 4th quarter valued at $32,000. Osterweis Capital Management Inc. purchased a new position in shares of Snap during the 4th quarter valued at $43,000. Finally, Blue Trust Inc. increased its holdings in shares of Snap by 128.0% in the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after purchasing an additional 2,453 shares during the period. 47.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SNAP shares. Susquehanna raised their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. JMP Securities restated a “market outperform” rating and set a $16.00 price target on shares of Snap in a report on Monday, January 27th. Wells Fargo & Company lowered their price objective on shares of Snap from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday. BMO Capital Markets reissued an “outperform” rating and set a $16.00 target price (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Finally, Citigroup lifted their price target on shares of Snap from $13.00 to $13.50 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-four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.80.

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.