Rebecca Morrow Sells 2,812 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 2,812 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $32,169.28. Following the transaction, the chief accounting officer now directly owns 430,252 shares of the company’s stock, valued at approximately $4,922,082.88. The trade was a 0.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Rebecca Morrow also recently made the following trade(s):

• On Tuesday, December 10th, Rebecca Morrow sold 32,000 shares of Snap stock. The shares were sold at an average price of $12.42, for a total transaction of $397,440.00.
• On Monday, November 18th, Rebecca Morrow sold 11,154 shares of Snap stock. The shares were sold at an average price of $10.55, for a total value of $117,674.70.

Snap Stock Up 0.7 %

Snap stock opened at $11.30 on Friday. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.75. The company has a market capitalization of $18.95 billion, a P/E ratio of -19.48 and a beta of 0.97. The stock has a 50-day simple moving average of $11.40 and a 200-day simple moving average of $11.98. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

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 analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the firm posted ($0.21) earnings per share. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. Equities research analysts expect that Snap Inc. will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On Snap

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP grew its holdings in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after acquiring an additional 12,533,653 shares during the period. TB Alternative Assets Ltd. increased its stake in shares of Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares in the last quarter. Discovery Capital Management LLC CT bought a new position in Snap in the 2nd quarter worth $22,591,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Snap by 49.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after purchasing an additional 1,297,348 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on SNAP shares. Truist Financial lifted their price target on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. JMP Securities dropped their price objective on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, October 30th. Loop Capital boosted their target price on shares of Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Citigroup raised their price target on shares of Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Finally, Wells Fargo & Company reduced their price objective on shares of Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. One research 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 company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.10.

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.