Michael J. O’sullivan Sells 12,315 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 12,315 shares of Snap stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.54, for a total value of $129,800.10. Following the sale, the general counsel now directly owns 1,195,567 shares of the company’s stock, valued at $12,601,276.18. This trade represents a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Snap Stock Up 0.2 %

Shares of NYSE SNAP opened at $10.62 on Friday. The firm has a market cap of $17.81 billion, a price-to-earnings ratio of -18.30 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 quick ratio of 4.04 and a current ratio of 4.04. The stock’s 50-day simple moving average is $10.79 and its 200-day simple moving average is $12.55.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company earned ($0.21) earnings per share. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, equities analysts anticipate that Snap Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNAP has been the subject of several recent analyst reports. Canaccord Genuity Group boosted their price objective 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. Hsbc Global Res lowered Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Wells Fargo & Company decreased their target price on Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. UBS Group boosted their price objective on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI increased their price target on shares of Snap from $12.00 to $15.00 and gave the stock an “in-line” 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 nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and an average target price of $14.31.

Institutional Trading of Snap

Several institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management bought a new stake in shares of Snap in the 2nd quarter worth $33,000. Blue Trust Inc. boosted its holdings in 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 buying an additional 1,682 shares in the last quarter. Rothschild Investment LLC acquired a new position in Snap in the second quarter worth approximately $40,000. V Square Quantitative Management LLC acquired a new stake in shares of Snap during the 3rd quarter valued at $29,000. Finally, Paladin Wealth LLC bought a new stake in shares of Snap during the 3rd quarter worth $30,000. Institutional investors own 47.52% of the company’s stock.

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.