Michael J. O’sullivan Sells 14,183 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 14,183 shares of Snap stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $125,235.89. Following the completion of the transaction, the general counsel now owns 2,256,101 shares in the company, valued at approximately $19,921,371.83. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Snap Stock Down 2.9 %

Shares of SNAP stock traded down $0.27 on Tuesday, hitting $8.73. The company’s stock had a trading volume of 25,157,896 shares, compared to its average volume of 25,410,513. The stock has a market capitalization of $14.80 billion, a price-to-earnings ratio of -20.77 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The firm’s fifty day moving average price is $10.56 and its 200-day moving average price is $10.80.

Snap (NYSE:SNAP) last released 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 return on equity of 25.67% and a negative net margin of 13.02%. Research analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in Snap by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,115 shares of the company’s stock worth $184,000 after acquiring an additional 2,792 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in Snap during the 4th quarter worth $3,838,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Snap during the 4th quarter worth about $5,135,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Snap during the 4th quarter worth about $225,000. Finally, Polar Asset Management Partners Inc. bought a new position in shares of Snap during the 4th quarter worth about $4,924,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Ratings Changes

SNAP has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Snap in a research report on Thursday, December 5th. Citizens Jmp lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. BMO Capital Markets restated an “outperform” rating and issued a $16.00 price target (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Citigroup lifted their price objective on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, 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 report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $36.87.

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.