Insider Selling: Snap Inc. (NYSE:SNAP) CAO Sells 2,578 Shares of Stock

Snap Inc. (NYSE:SNAP - Get Free Report) CAO Rebecca Morrow sold 2,578 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $8.04, for a total value 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. The trade was a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

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

Snap Stock Performance

Shares of NYSE SNAP traded up $0.06 during midday trading on Wednesday, hitting $8.24. The company's stock had a trading volume of 27,589,916 shares, compared to its average volume of 29,656,775. The stock has a fifty day moving average price of $8.31 and a 200 day moving average price of $9.76. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.55. Snap Inc. has a one year low of $7.08 and a one year high of $17.33. The firm has a market capitalization of $13.78 billion, a price-to-earnings ratio of -26.59 and a beta of 0.59.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new stake in Snap in the fourth quarter valued at approximately $27,000. Raiffeisen Bank International AG bought a new stake in shares of Snap during the 4th quarter worth $30,000. NBC Securities Inc. grew its position in Snap by 154,650.0% in the first quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after acquiring an additional 3,093 shares in the last quarter. Rakuten Securities Inc. increased its stake in Snap by 155.4% in the first quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock valued at $30,000 after acquiring an additional 2,123 shares during the last quarter. Finally, Quarry LP purchased a new stake in Snap during the first quarter valued at about $34,000. 47.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on SNAP shares. Loop Capital decreased their price target on shares of Snap from $16.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 16th. B. Riley decreased their target price on shares of Snap from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. UBS Group lowered their target price on shares of Snap from $14.00 to $9.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Citizens Jmp raised shares of Snap from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Finally, Truist Financial decreased their price objective on Snap from $14.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.

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