Insider Selling: Snap Inc. (NYSE:SNAP) General Counsel Sells 18,000 Shares of Stock

Snap Inc. (NYSE:SNAP - Get Free Report) General Counsel Michael J. O'sullivan sold 18,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the sale, the general counsel now owns 474,812 shares in the company, valued at $5,474,582.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Snap Price Performance

Shares of Snap stock traded down $0.23 on Monday, reaching $11.25. 13,140,079 shares of the stock were exchanged, compared to its average volume of 31,006,797. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The firm has a market cap of $18.57 billion, a PE ratio of -13.55 and a beta of 1.13. The firm's 50 day moving average is $12.43 and its 200-day moving average is $12.56. Snap Inc. has a one year low of $7.86 and a one year high of $17.90.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.04. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.39 billion. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. As a group, analysts anticipate that Snap Inc. will post -0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SNAP shares. Royal Bank of Canada dropped their price objective on shares of Snap from $17.00 to $13.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 7th. BMO Capital Markets decreased their target price on shares of Snap from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, February 7th. Stifel Nicolaus raised their target price on shares of Snap from $10.00 to $14.00 and gave the company a "hold" rating in a research report on Tuesday, January 9th. Wells Fargo & Company decreased their price objective on shares of Snap from $22.00 to $16.00 and set an "overweight" rating for the company in a research report on Wednesday, February 7th. Finally, Morgan Stanley decreased their price objective on shares of Snap from $13.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $13.70.

Institutional Trading of Snap

Several institutional investors and hedge funds have recently modified their holdings of SNAP. NBC Securities Inc. increased its position in Snap by 2,580.4% during the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company's stock worth $25,000 after purchasing an additional 1,445 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Snap during the fourth quarter worth $29,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Snap by 75.0% during the third quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company's stock worth $31,000 after buying an additional 1,500 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company's stock valued at $47,000 after acquiring an additional 1,708 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Snap by 365.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,941 shares of the company's stock valued at $47,000 after acquiring an additional 3,094 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Snap Company Profile

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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