Snap Inc. (NYSE:SNAP - Get Free Report) General Counsel Michael J. O'sullivan sold 14,297 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $8.04, for a total value of $114,947.88. Following the completion of the sale, the general counsel now owns 2,097,523 shares in the company, valued at $16,864,084.92. This represents a 0.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Snap Trading Up 0.8%
Shares of SNAP stock traded up $0.06 during trading hours on Wednesday, reaching $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 firm's 50 day simple moving average is $8.32 and its 200-day simple moving average is $9.77. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week 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.
Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 EPS. As a group, research analysts predict that Snap Inc. will post -0.3 EPS for the current year.
Institutional Investors Weigh In On Snap
A number of large investors have recently modified their holdings of the business. Checchi Capital Advisers LLC boosted its holdings in shares of Snap by 3.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company's stock valued at $335,000 after purchasing an additional 901 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Snap by 8.0% during the 4th quarter. Captrust Financial Advisors now owns 13,918 shares of the company's stock valued at $150,000 after acquiring an additional 1,030 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Snap by 1.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company's stock valued at $661,000 after acquiring an additional 1,033 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Snap by 3.1% during the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock valued at $384,000 after acquiring an additional 1,055 shares in the last quarter. Finally, Trajan Wealth LLC boosted its holdings in shares of Snap by 5.9% during the 4th quarter. Trajan Wealth LLC now owns 20,191 shares of the company's stock valued at $217,000 after acquiring an additional 1,132 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on SNAP shares. Royal Bank Of Canada restated a "sector perform" rating and issued a $12.00 price objective on shares of Snap in a research note on Wednesday, April 30th. Rosenblatt Securities lowered their target price on Snap from $12.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company lowered their target price on Snap from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus lowered their target price on Snap from $11.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Finally, Morgan Stanley lowered their target price on Snap from $8.00 to $6.50 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $35.62.
View Our Latest Analysis on SNAP
About Snap
(
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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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