Snap Inc. (NYSE:SNAP) General Counsel Sells $749,249.96 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 69,119 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $749,249.96. Following the completion of the transaction, the general counsel now owns 2,332,140 shares in the company, valued at $25,280,397.60. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Snap Trading Down 3.1 %

SNAP stock opened at $10.35 on Friday. The firm has a fifty day moving average price of $11.19 and a 200 day moving average price of $10.75. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The firm has a market cap of $17.55 billion, a PE ratio of -24.63 and a beta of 0.99.

Snap (NYSE:SNAP) last posted its 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 net margin of 13.02% and a negative return on equity of 25.67%. Sell-side analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SNAP shares. Wells Fargo & Company cut shares of Snap from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $15.00 to $11.00 in a research note on Wednesday, February 5th. Citigroup increased their price objective on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Snap in a research note on Thursday, December 5th. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Finally, Barclays reiterated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $36.87.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Mountain Hill Investment Partners Corp. purchased a new position in shares of Snap in the fourth quarter valued at $27,000. Advisors Asset Management Inc. boosted its stake in Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares during the period. Raiffeisen Bank International AG purchased a new position in Snap during the fourth quarter worth $30,000. Comprehensive Financial Planning Inc. PA purchased a new position in Snap during the fourth quarter worth $32,000. Finally, Brooklyn Investment Group purchased a new position in Snap during the third quarter worth $41,000. 47.52% of the stock is 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.