Snap Inc. (NYSE:SNAP) General Counsel Sells $206,820.00 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $11.49, for a total transaction of $206,820.00. Following the transaction, the general counsel now directly owns 480,498 shares of the company’s stock, valued at approximately $5,520,922.02. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Snap Trading Down 8.1 %

Shares of SNAP opened at $10.67 on Thursday. 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 12 month low of $8.29 and a 12 month high of $17.50. The stock has a market cap of $17.89 billion, a PE ratio of -18.39 and a beta of 0.99. The stock’s 50-day moving average is $11.51 and its two-hundred day moving average is $10.89.

Snap (NYSE:SNAP) last released its quarterly 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 return on equity of 35.60% and a negative net margin of 18.49%. Equities analysts forecast that Snap Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Snap during the 3rd quarter worth $29,000. Paladin Wealth LLC purchased a new stake in shares of Snap during the third quarter worth about $30,000. Advisors Asset Management Inc. lifted its stake in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after acquiring an additional 1,632 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in Snap in the fourth quarter valued at about $32,000. Finally, Brooklyn Investment Group purchased a new position in Snap in the third quarter valued at about $41,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on SNAP shares. Wells Fargo & Company downgraded Snap from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $15.00 to $11.00 in a research report on Wednesday. B. Riley boosted their target price on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $16.00 price target (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price objective on shares of Snap in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.87.

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.