Insider Selling: Snap Inc. (NYSE:SNAP) General Counsel Sells 56,961 Shares of Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 56,961 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $651,633.84. Following the completion of the sale, the general counsel now owns 1,127,655 shares of the company’s stock, valued at approximately $12,900,373.20. This trade represents a 4.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Snap Price Performance

NYSE SNAP traded up $0.04 on Wednesday, hitting $11.22. The company had a trading volume of 49,316,313 shares, compared to its average volume of 27,839,719. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The company’s fifty day moving average price is $11.38 and its 200-day moving average price is $11.99. The company has a market capitalization of $18.82 billion, a PE ratio of -19.34 and a beta of 0.97. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.75.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, October 29th. The company reported $0.08 EPS 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 analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company earned ($0.21) earnings per share. The company’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, analysts predict that Snap Inc. will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently made changes to their positions in SNAP. V Square Quantitative Management LLC purchased a new position in Snap in the 3rd quarter worth approximately $29,000. Paladin Wealth LLC acquired a new stake in shares of Snap in the third quarter valued at approximately $30,000. Advisors Asset Management Inc. lifted its position 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 in the last quarter. Hollencrest Capital Management acquired a new position in Snap during the second quarter worth $33,000. Finally, Blue Trust Inc. grew its holdings 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 buying an additional 1,682 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SNAP. Roth Mkm restated a “neutral” rating and set a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. Evercore ISI upped their price target on shares of Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Stifel Nicolaus lowered their price objective on shares of Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, October 14th. JMP Securities cut their target price on Snap from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Piper Sandler restated a “neutral” rating and issued a $13.00 target price (up previously from $12.00) on shares of Snap in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $37.10.

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.