Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 12,315 Shares

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 12,315 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.54, for a total transaction of $129,800.10. Following the completion of the transaction, the general counsel now directly owns 1,195,567 shares in the company, valued at $12,601,276.18. This trade represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Snap Stock Up 0.2 %

Shares of NYSE SNAP opened at $10.62 on Friday. The firm has a 50 day moving average price of $10.79 and a 200 day moving average price of $12.55. The stock has a market cap of $17.81 billion, a P/E ratio of -18.30 and a beta of 0.99. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company posted ($0.21) EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis. Analysts expect that Snap Inc. will post -0.41 EPS for the current year.

Analysts Set New Price Targets

SNAP has been the subject of a number of recent research reports. Benchmark reiterated a “hold” rating on shares of Snap in a report on Friday, October 25th. B. Riley raised their target price on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company decreased their price target on shares of Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Evercore ISI boosted their price objective on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Barclays lowered their price objective on shares of Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.31.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Snap by 5.2% during the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after buying an additional 575,324 shares in the last quarter. Groupama Asset Managment bought a new stake in shares of Snap in the third quarter valued at approximately $13,032,000. MML Investors Services LLC grew its position in Snap by 6.8% during the third quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock worth $270,000 after buying an additional 1,614 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new position in Snap in the 3rd quarter valued at $149,000. Finally, EP Wealth Advisors LLC lifted its position in shares of Snap by 15.2% during the 3rd quarter. EP Wealth Advisors LLC now owns 48,713 shares of the company’s stock valued at $521,000 after acquiring an additional 6,413 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.