Snap Inc. (NYSE:SNAP) SVP Sells $1,181,811.00 in Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 112,020 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares in the company, valued at $29,445,556.40. This trade represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Eric Young also recently made the following trade(s):

• On Thursday, November 21st, Eric Young sold 50,000 shares of Snap stock. The shares were sold at an average price of $10.54, for a total value of $527,000.00.

Snap Stock Performance

NYSE SNAP opened at $11.42 on Friday. The company has a fifty day moving average of $10.82 and a two-hundred day moving average of $12.54. The company has a market capitalization of $19.15 billion, a PE ratio of -19.66 and a beta of 0.99. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.90. 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 (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion during 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 prior year, the firm earned ($0.21) EPS. As a group, analysts expect that Snap Inc. will post -0.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SNAP. Bank of America lifted their price objective on Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company cut their price target 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. Citigroup dropped their price objective on shares of Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Stifel Nicolaus reduced their target price on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price target on shares of Snap in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Snap has an average rating of “Hold” and an average price target of $14.31.

Hedge Funds Weigh In On Snap

Hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in Snap during the 3rd quarter worth $29,000. Paladin Wealth LLC acquired a new position in Snap in the third quarter valued at $30,000. Advisors Asset Management Inc. raised its holdings 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 valued at $30,000 after buying an additional 1,632 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Snap during the second quarter worth about $33,000. Finally, Blue Trust Inc. increased its position in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after acquiring an additional 1,682 shares during the period. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

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.