Snap Inc. (NYSE:SNAP) General Counsel Sells $214,020.00 in Stock

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

Snap Stock Performance

NYSE:SNAP opened at $12.16 on Friday. The firm has a market cap of $20.39 billion, a PE ratio of -20.96 and a beta of 0.97. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week 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 business has a 50 day moving average price of $11.20 and a 200-day moving average price of $12.24.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share 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 analyst estimates 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 quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. Equities research analysts predict that Snap Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of Snap

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. Marshall Wace LLP lifted its stake in Snap by 587.3% in the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after acquiring an additional 12,533,653 shares during the period. TB Alternative Assets Ltd. lifted its stake in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after acquiring an additional 4,098,847 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares during the period. Discovery Capital Management LLC CT purchased a new stake in Snap in the second quarter worth $22,591,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Snap by 49.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after acquiring an additional 1,297,348 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

SNAP has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $14.00 price target on shares of Snap in a research report on Wednesday, September 18th. Bank of America upped their price target on Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial upped their price target on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. B. Riley upped their price target on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 price target on shares of Snap in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snap presently has a consensus rating of “Hold” and a consensus price target of $37.10.

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.