Insider Selling: Snap (NYSE:SNAP) General Counsel Sells 24,000 Shares of Stock

Key Points

• Snap Inc. General Counsel Michael O'Sullivan sold 24,000 shares at an average price of $7.86, totaling approximately $188,640, reducing his ownership stake by 4.46%.
• The company's recent stock price hit $8.21 with a market cap of $13.87 billion and has experienced a 52-week low of $6.90 and a high of $13.28.
• Analysts maintain a consensus rating of "Hold" for Snap Inc., with an average target price of $34.77, though multiple firms have issued target price adjustments recently.

Snap Inc. (NYSE:SNAP - Get Free Report) General Counsel Michael O'sullivan sold 24,000 shares of Snap stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $7.86, for a total value of $188,640.00. Following the sale, the general counsel directly owned 514,454 shares of the company's stock, valued at approximately $4,043,608.44. The trade was a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Snap Stock Performance

SNAP traded up $0.50 on Thursday, hitting $8.21. 120,483,621 shares of the stock traded hands, compared to its average volume of 152,184,288. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 1.73. The business has a fifty day moving average price of $7.83 and a two-hundred day moving average price of $8.35. The firm has a market capitalization of $13.87 billion, a PE ratio of -25.64 and a beta of 0.71. Snap Inc. has a 52 week low of $6.90 and a 52 week high of $13.28.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.The business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.15) EPS. Snap has set its Q3 2025 guidance at EPS. On average, research analysts predict that Snap Inc. will post -0.3 EPS for the current fiscal year.

Institutional Trading of Snap

Several large investors have recently bought and sold shares of SNAP. Signaturefd LLC increased its holdings in Snap by 169.9% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the company's stock worth $26,000 after acquiring an additional 1,852 shares in the last quarter. NBC Securities Inc. increased its stake in shares of 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 during the period. 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 purchasing an additional 2,123 shares during the last quarter. Quarry LP purchased a new position in shares of Snap during the first quarter worth approximately $34,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Snap in the 1st quarter worth $35,000. Hedge funds and other institutional investors own 47.52% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNAP. Piper Sandler dropped their target price on shares of Snap from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $7.00 price objective on shares of Snap in a report on Wednesday, August 6th. Guggenheim restated a "neutral" rating and set a $8.00 price objective on shares of Snap in a research report on Friday, September 12th. JMP Securities reissued a "market perform" rating on shares of Snap in a report on Wednesday, August 6th. Finally, Mizuho started coverage on shares of Snap in a research note on Monday. They set a "neutral" rating and a $9.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $34.77.

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.

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