Snap Inc. (NYSE:SNAP - Get Free Report) General Counsel Michael J. O'sullivan sold 24,000 shares of the 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 sale, the general counsel owned 510,984 shares in the company, valued at approximately $4,450,670.64. This trade represents 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 Performance
Shares of NYSE SNAP traded down $0.12 during mid-day trading on Friday, reaching $9.27. 21,788,698 shares of the company's stock were exchanged, compared to its average volume of 30,643,746. The firm has a 50-day moving average price of $8.47 and a two-hundred day moving average price of $9.47. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.30 and a quick ratio of 4.30. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of -29.89 and a beta of 0.59. Snap Inc. has a 52 week low of $7.08 and a 52 week high of $17.33.
Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative return on equity of 21.53% and a negative net margin of 9.63%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the firm posted $0.03 EPS. The business's revenue was up 14.1% on a year-over-year basis. Analysts predict that Snap Inc. will post -0.3 EPS for the current year.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on SNAP shares. Guggenheim reaffirmed a "neutral" rating on shares of Snap in a research note on Wednesday, April 2nd. 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 research note on Friday, May 16th. Morgan Stanley lowered their price target on shares of Snap from $8.00 to $6.50 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. UBS Group reduced their price objective on shares of Snap from $14.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Bank of America dropped their target price on shares of Snap from $14.50 to $10.50 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Snap presently has an average rating of "Hold" and an average target price of $35.74.
View Our Latest Stock Analysis on SNAP
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. NBC Securities Inc. grew its position in Snap by 154,650.0% during the first quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after buying an additional 3,093 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in Snap in the fourth quarter valued at $27,000. Raiffeisen Bank International AG purchased a new stake in Snap during the fourth quarter valued at about $30,000. Rakuten Securities Inc. lifted its stake in Snap by 155.4% during the first quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock worth $30,000 after purchasing an additional 2,123 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Snap during the 1st quarter valued at about $34,000. Institutional investors own 47.52% of the company's stock.
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.
Further Reading
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