Snap Inc. (NYSE:SNAP) General Counsel Sells $209,040.00 in Stock

Snap Inc. (NYSE:SNAP - Get Free Report) General Counsel Michael J. O'sullivan sold 24,000 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $8.71, for a total value of $209,040.00. Following the transaction, the general counsel owned 510,984 shares in the company, valued at approximately $4,450,670.64. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Snap Stock Down 1.2%

NYSE:SNAP traded down $0.12 during mid-day trading on Friday, hitting $9.27. 21,788,698 shares of the company's stock were exchanged, compared to its average volume of 30,643,746. The company has a market cap of $15.48 billion, a PE ratio of -29.89 and a beta of 0.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.30 and a quick ratio of 4.30. Snap Inc. has a one year low of $7.08 and a one year high of $17.33. The business has a fifty day moving average price of $8.47 and a 200 day moving average price of $9.47.

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

Institutional Investors Weigh In On Snap

Hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. raised its position in shares of Snap by 154,650.0% in the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after purchasing an additional 3,093 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in Snap during the 4th quarter valued at about $27,000. Raiffeisen Bank International AG purchased a new position in Snap in the fourth quarter worth about $30,000. Rakuten Securities Inc. lifted its stake in shares of Snap by 155.4% in the first quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock worth $30,000 after buying an additional 2,123 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Snap in the first quarter worth approximately $34,000. 47.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on SNAP shares. BMO Capital Markets dropped their price target on shares of Snap from $16.00 to $13.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Canaccord Genuity Group lowered their price objective on shares of Snap from $10.00 to $9.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company raised their target price on Snap from $8.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Piper Sandler lowered their price target on Snap from $13.00 to $10.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Truist Financial dropped 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 analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $35.74.

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.