Snap Inc. (NYSE:SNAP) General Counsel Sells $651,633.84 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 56,961 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $651,633.84. Following the completion of the transaction, the general counsel now owns 1,127,655 shares in the company, valued at $12,900,373.20. This represents a 4.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Snap Stock Performance

Shares of SNAP stock traded up $0.04 during trading hours on Wednesday, hitting $11.22. The stock had a trading volume of 49,316,313 shares, compared to its average volume of 27,839,719. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a market capitalization of $18.82 billion, a PE ratio of -19.34 and a beta of 0.97. The stock’s 50 day moving average is $11.38 and its 200 day moving average is $11.99. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.75.

Snap (NYSE:SNAP) last issued its quarterly 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. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. Snap’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) EPS. As a group, research analysts forecast that Snap Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SNAP. Roth Mkm reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. Evercore ISI increased their target price on shares of Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, JMP Securities cut their target price on Snap from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $37.10.

Institutional Investors Weigh In On Snap

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its position in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after acquiring an additional 1,682 shares during the period. Kiley Juergens Wealth Management LLC purchased a new stake in shares of Snap during the second quarter worth approximately $213,000. Destiny Wealth Partners LLC acquired a new stake in shares of Snap during the second quarter worth $3,506,000. Bank of New York Mellon Corp grew its position in Snap by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,558,268 shares of the company’s stock valued at $25,883,000 after buying an additional 27,673 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Snap by 368.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 155,723 shares of the company’s stock valued at $2,587,000 after buying an additional 122,511 shares during the period. 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.