Snap Inc. (NYSE:SNAP) SVP Sells $527,000.00 in Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 50,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $10.54, for a total value of $527,000.00. Following the sale, the senior vice president now owns 752,110 shares in the company, valued at $7,927,239.40. This represents a 6.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Eric Young also recently made the following trade(s):

• On Monday, November 18th, Eric Young sold 112,020 shares of Snap stock. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00.

Snap Stock Performance

Shares of SNAP stock opened at $11.42 on Monday. The company’s fifty day simple moving average is $10.85 and its two-hundred day simple moving average is $12.44. 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 Inc. has a 1 year low of $8.29 and a 1 year high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. As a group, equities research analysts anticipate that Snap Inc. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

SNAP has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company dropped their price target on shares of Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Stifel Nicolaus reduced their price objective on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. B. Riley increased their price objective on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 target price on shares of Snap in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new stake in Snap during the second quarter valued at about $33,000. Blue Trust Inc. boosted its holdings in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Snap in the second quarter worth approximately $40,000. V Square Quantitative Management LLC purchased a new position in shares of Snap during the 3rd quarter worth $29,000. Finally, Paladin Wealth LLC purchased a new position in shares of Snap during the 3rd quarter worth $30,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

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.