Insider Selling: Snap Inc. (NYSE:SNAP) CAO Sells 11,154 Shares of Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 11,154 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the sale, the chief accounting officer now owns 465,064 shares of the company’s stock, valued at approximately $4,906,425.20. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Rebecca Morrow also recently made the following trade(s):

• On Monday, September 16th, Rebecca Morrow sold 2,459 shares of Snap stock. The stock was sold at an average price of $9.29, for a total value of $22,844.11.

Snap Price Performance

Shares of SNAP traded up $0.09 during trading hours on Wednesday, reaching $10.60. 17,604,238 shares of the stock traded hands, compared to its average volume of 27,750,627. The company has a market cap of $17.78 billion, a P/E ratio of -18.10 and a beta of 0.99. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The company’s 50-day moving average price is $10.76 and its two-hundred day moving average price is $12.57. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90.

Snap (NYSE:SNAP) last issued its 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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business earned ($0.21) earnings per share. Snap’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, analysts anticipate that Snap Inc. will post -0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Benchmark restated a “hold” rating on shares of Snap in a report on Friday, October 25th. HSBC downgraded shares of Snap from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Canaccord Genuity Group upped their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Cantor Fitzgerald raised their target price on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Hsbc Global Res downgraded Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. One research 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.31.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in Snap during the 3rd quarter valued at about $29,000. Paladin Wealth LLC bought a new stake in Snap during the third quarter valued at about $30,000. Advisors Asset Management Inc. grew its position in shares of Snap by 141.9% in the 3rd 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 during the last quarter. Hollencrest Capital Management acquired a new position in shares of Snap during the second quarter worth $33,000. Finally, Blue Trust Inc. raised its stake in Snap by 354.1% in the second 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 during the last quarter. 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.