Snap Inc. (NYSE:SNAP) General Counsel Sells $194,580.00 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the transaction, the general counsel now owns 489,058 shares of the company’s stock, valued at $5,286,716.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Snap Price Performance

Shares of NYSE:SNAP opened at $10.80 on Friday. The company has a 50 day moving average of $9.80 and a 200 day moving average of $12.74. The stock has a market cap of $17.72 billion, a P/E ratio of -13.33 and a beta of 1.00. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. As a group, sell-side analysts forecast that Snap Inc. will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Snap

Several hedge funds have recently bought and sold shares of SNAP. Marshall Wace LLP grew its stake in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after acquiring an additional 12,533,653 shares in the last quarter. SRS Investment Management LLC grew its stake in Snap by 23.6% in the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after buying an additional 12,452,415 shares in the last quarter. Vanguard Group Inc. grew its stake in Snap by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after buying an additional 3,503,230 shares in the last quarter. TB Alternative Assets Ltd. grew its stake in Snap by 144.5% in the 1st quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock worth $58,488,000 after buying an additional 3,011,400 shares in the last quarter. Finally, Discovery Capital Management LLC CT purchased a new position in Snap in the 2nd quarter worth approximately $22,591,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SNAP shares. The Goldman Sachs Group cut their price target on shares of Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. HSBC cut shares of Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Bank of America cut their price target on shares of Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Roth Mkm restated a “neutral” rating and set a $14.00 price target on shares of Snap in a report on Wednesday, September 18th. Finally, Wolfe Research started coverage on shares of Snap in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.85.

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.