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 business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.31, for a total transaction of $221,580.00. Following the completion of the transaction, the general counsel now directly owns 471,058 shares of the company’s stock, valued at approximately $5,798,723.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Snap Trading Up 0.6 %

NYSE:SNAP opened at $12.19 on Wednesday. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The company has a 50-day moving average price of $10.28 and a 200-day moving average price of $12.74. The stock has a market cap of $20.23 billion, a price-to-earnings ratio of -21.02 and a beta of 0.99.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.21) EPS. Equities analysts predict that Snap Inc. will post -0.41 EPS for the current year.

Hedge Funds Weigh In On Snap

A number of institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its position in shares of Snap by 11.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 129,057 shares of the company’s stock worth $1,482,000 after buying an additional 13,055 shares during the period. Private Advisor Group LLC boosted its stake in Snap by 69.6% during the first quarter. Private Advisor Group LLC now owns 77,061 shares of the company’s stock worth $885,000 after acquiring an additional 31,631 shares in the last quarter. RiverPark Advisors LLC grew its holdings in Snap by 11.1% in the first quarter. RiverPark Advisors LLC now owns 100,432 shares of the company’s stock worth $1,153,000 after purchasing an additional 10,038 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Snap by 51.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 80,821 shares of the company’s stock valued at $928,000 after purchasing an additional 27,335 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Snap during the first quarter valued at approximately $225,000. Institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup cut their target price on shares of Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Hsbc Global Res lowered Snap from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Bank of America increased their price target on shares of Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $14.00 price objective on shares of Snap in a report on Wednesday, September 18th. One 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $14.31.

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.