Snap Inc. (NYSE:SNAP) CEO Evan Spiegel sold 250,000 shares of the company's stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $60.63, for a total transaction of $15,157,500.00. Following the transaction, the chief executive officer now directly owns 46,319,632 shares in the company, valued at approximately $2,808,359,288.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
NYSE:SNAP traded up $1.53 during midday trading on Wednesday, reaching $62.04. 41,958,475 shares of the company traded hands, compared to its average volume of 24,012,582. The firm has a market capitalization of $93.58 billion, a price-to-earnings ratio of -82.72 and a beta of 1.29. The company has a fifty day moving average price of $58.39 and a 200 day moving average price of $52.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 5.43 and a quick ratio of 5.43. Snap Inc. has a twelve month low of $16.42 and a twelve month high of $73.59.
Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, April 22nd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.02. Snap had a negative net margin of 49.74% and a negative return on equity of 48.53%. The company had revenue of $769.58 million during the quarter, compared to the consensus estimate of $739.61 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The company's revenue for the quarter was up 66.4% compared to the same quarter last year. On average, equities research analysts forecast that Snap Inc. will post -0.64 earnings per share for the current fiscal year.
SNAP has been the topic of a number of recent analyst reports. Argus increased their price target on Snap from $50.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, February 9th. Credit Suisse Group reiterated a "buy" rating and set a $80.00 price objective on shares of Snap in a report on Tuesday, April 20th. MKM Partners upped their price target on shares of Snap from $65.00 to $83.00 in a research report on Wednesday, February 24th. Stifel Nicolaus boosted their price objective on shares of Snap from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, February 5th. Finally, Morgan Stanley increased their target price on Snap from $74.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, April 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirty have assigned a buy rating to the company's stock. Snap currently has an average rating of "Buy" and a consensus price target of $67.71.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Asset Advisory Services LLC bought a new stake in shares of Snap during the fourth quarter valued at approximately $25,000. Riggs Asset Managment Co. Inc. bought a new stake in Snap during the 4th quarter valued at $25,000. Private Capital Group LLC boosted its position in Snap by 200.0% during the 1st quarter. Private Capital Group LLC now owns 540 shares of the company's stock worth $28,000 after acquiring an additional 360 shares during the period. Joseph P. Lucia & Associates LLC bought a new position in shares of Snap in the fourth quarter worth $31,000. Finally, Arlington Partners LLC increased its holdings in shares of Snap by 43.8% during the fourth quarter. Arlington Partners LLC now owns 719 shares of the company's stock valued at $36,000 after purchasing an additional 219 shares during the period. Hedge funds and other institutional investors own 47.52% of the company's stock.
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and captures video from a human perspective; and advertising products, including AR and Snap ads.
Recommended Story: Stop Order
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: Earnings Per Share (EPS) Explained7 Stocks That Cathie Wood is Buying And You Should Too
If you’re an investor that likes to go with the “hot hand,” then they don’t get much hotter than Cathie Wood. The founder and CEO of ARK Investment Management delivered returns of over 100% in all five of her firm’s exchange-traded funds (ETFs) in 2020.
The names of her funds showcase some of the hottest emerging growth trends in the market: financial technology (fintech), genomic revolution, innovation, autonomous technology/robotics, and next generation internet.
As you would expect, these funds contain some of the hottest growth stocks from the past year. And in the aftermath of the tech selloff, Wood is not backing away. In fact, she’s doubling down on her strategy. It might not be exactly a matter of being greedy while others are fearful; perhaps more like being prepared while others are distracted.
But the other thing about Wood’s selections is that many of them are not obscure names. These are companies that were among the hottest names in 2020. Wood simply believes that they still have room to run. And that’s one reason you should consider making them a part of your portfolio.
In this special presentation, we’re giving you just seven of the stocks that Cathie Wood is buying or has bought recently. We’ve attempted to pick out at least one stock from each of the ARK ETFs. As with any investment decision, it’s important that you perform your own research before making a decision.
View the "7 Stocks That Cathie Wood is Buying And You Should Too"