Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 18,000 Shares

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $11.89, for a total value of $214,020.00. Following the sale, the general counsel now owns 464,009 shares of the company’s stock, valued at approximately $5,517,067.01. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Snap Stock Up 6.3 %

Shares of NYSE:SNAP traded up $0.76 during midday trading on Tuesday, reaching $12.87. The company’s stock had a trading volume of 37,612,348 shares, compared to its average volume of 27,683,334. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.90. The firm has a market capitalization of $21.59 billion, a P/E ratio of -22.17 and a beta of 0.97. The firm has a 50 day moving average of $11.08 and a 200-day moving average of $12.26. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the business posted ($0.21) EPS. The company’s revenue was up 15.4% compared to the same quarter last year. On average, research analysts anticipate that Snap Inc. will post -0.4 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Evercore ISI boosted their price target on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Loop Capital upped their price objective on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Roth Mkm restated a “neutral” rating and set a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. UBS Group boosted their price objective on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Bank of America increased their target price on shares of Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $13.91.

Institutional Investors Weigh In On Snap

A number of hedge funds have recently modified their holdings of SNAP. Hollencrest Capital Management purchased a new position in Snap during the second quarter valued at $33,000. Blue Trust Inc. grew its stake in shares of Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Snap in the second quarter valued at about $40,000. V Square Quantitative Management LLC purchased a new position in Snap during the third quarter valued at approximately $29,000. Finally, Paladin Wealth LLC acquired a new position in Snap in the 3rd quarter worth about $30,000. Institutional investors own 47.52% of the company’s stock.

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.