Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 12,512 Shares

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 12,512 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $113,984.32. Following the completion of the transaction, the general counsel now directly owns 1,328,085 shares of the company’s stock, valued at $12,098,854.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Snap Trading Down 0.3 %

Shares of NYSE:SNAP traded down $0.03 during trading on Tuesday, reaching $9.47. 16,345,023 shares of the stock were exchanged, compared to its average volume of 28,008,275. Snap Inc. has a 12-month low of $8.28 and a 12-month high of $17.90. The firm’s 50-day moving average price is $13.85 and its 200 day moving average price is $13.26. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The firm has a market cap of $15.72 billion, a price-to-earnings ratio of -11.69 and a beta of 1.03.

Institutional Investors Weigh In On Snap

Several institutional investors have recently bought and sold shares of SNAP. NBC Securities Inc. raised its holdings in shares of Snap by 2,580.4% during the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after buying an additional 1,445 shares during the period. Hollencrest Capital Management purchased a new stake in shares of Snap during the second quarter valued at approximately $33,000. Blue Trust Inc. lifted its position in shares of Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Snap in the second quarter valued at $40,000. Finally, J.Safra Asset Management Corp increased its stake in Snap by 534.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock worth $46,000 after buying an additional 2,330 shares during the period. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on SNAP shares. Susquehanna reduced their price objective on Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Truist Financial decreased their price objective on shares of Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Argus upgraded shares of Snap to a “hold” rating in a report on Thursday, August 8th. Canaccord Genuity Group upped their price target on shares of Snap from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.10.

About Snap

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.