Rebecca Morrow Sells 2,578 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP - Get Free Report) CAO Rebecca Morrow sold 2,578 shares of Snap stock in a transaction on Monday, June 16th. The shares were sold at an average price of $8.04, for a total transaction of $20,727.12. Following the completion of the transaction, the chief accounting officer now owns 446,303 shares in the company, valued at approximately $3,588,276.12. This trade represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, May 16th, Rebecca Morrow sold 9,202 shares of Snap stock. The shares were sold at an average price of $8.59, for a total transaction of $79,045.18.

Snap Stock Down 2.6%

SNAP stock traded down $0.22 during trading on Friday, reaching $8.02. The stock had a trading volume of 27,423,639 shares, compared to its average volume of 29,697,774. Snap Inc. has a 1-year low of $7.08 and a 1-year high of $17.33. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $13.39 billion, a P/E ratio of -25.85 and a beta of 0.59. The firm has a fifty day moving average price of $8.32 and a 200 day moving average price of $9.70.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Snap had a negative return on equity of 21.53% and a negative net margin of 9.63%. The business's quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS. On average, equities analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Snap

Several hedge funds and other institutional investors have recently modified their holdings of SNAP. Empowered Funds LLC increased its position in shares of Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock worth $384,000 after purchasing an additional 1,055 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Snap by 213.3% in the 4th quarter. V Square Quantitative Management LLC now owns 8,378 shares of the company's stock worth $91,000 after purchasing an additional 5,704 shares during the last quarter. Blue Trust Inc. increased its position in shares of Snap by 128.0% in the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after purchasing an additional 2,453 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Snap by 3.5% in the 4th quarter. Sanctuary Advisors LLC now owns 84,978 shares of the company's stock worth $964,000 after purchasing an additional 2,835 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Snap by 12.3% in the 4th quarter. CIBC Asset Management Inc now owns 53,524 shares of the company's stock worth $576,000 after purchasing an additional 5,876 shares during the last quarter. Institutional investors own 47.52% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SNAP. Morgan Stanley decreased their price target on shares of Snap from $8.00 to $6.50 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Susquehanna decreased their price target on shares of Snap from $13.00 to $8.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company reduced their target price on shares of Snap from $9.00 to $8.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Canaccord Genuity Group reduced their target price on shares of Snap from $10.00 to $9.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Finally, Loop Capital reduced their target price on shares of Snap from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $35.62.

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.