Michael J. O’sullivan Sells 69,119 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 69,119 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $749,249.96. Following the completion of the transaction, the general counsel now directly owns 2,332,140 shares of the company’s stock, valued at $25,280,397.60. This trade represents a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Snap Trading Down 3.1 %

NYSE:SNAP opened at $10.35 on Friday. The stock has a fifty day moving average price of $11.19 and a two-hundred day moving average price of $10.74. The stock has a market capitalization of $17.55 billion, a price-to-earnings ratio of -24.63 and a beta of 0.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, sell-side analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SNAP shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Snap in a report on Thursday, December 5th. Evercore ISI upped their price target on Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Citigroup boosted their price objective on Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Loop Capital boosted their price objective on Snap from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Bank of America boosted their price objective on Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.87.

Institutional Trading of Snap

Large investors have recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. acquired a new stake in Snap in the fourth quarter valued at $27,000. Advisors Asset Management Inc. grew its holdings in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in Snap in the fourth quarter valued at $30,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Snap in the fourth quarter valued at $32,000. Finally, Brooklyn Investment Group acquired a new stake in Snap in the third quarter valued at $41,000. Institutional investors and hedge funds 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.