Insider Selling: Snap Inc. (NYSE:SNAP) CAO Sells 8,913 Shares of Stock

Snap Inc. (NYSE:SNAP - Get Free Report) CAO Rebecca Morrow sold 8,913 shares of the business's stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.91, for a total value of $141,805.83. Following the completion of the sale, the chief accounting officer now directly owns 483,743 shares of the company's stock, valued at approximately $7,696,351.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Rebecca Morrow also recently made the following trade(s):

• On Tuesday, April 16th, Rebecca Morrow sold 428 shares of Snap stock. The stock was sold at an average price of $10.19, for a total value of $4,361.32.
• On Monday, March 18th, Rebecca Morrow sold 2,442 shares of Snap stock. The stock was sold at an average price of $11.00, for a total value of $26,862.00.

Snap Price Performance

Shares of SNAP stock traded up $0.38 during trading hours on Monday, hitting $16.43. 22,167,892 shares of the company's stock were exchanged, compared to its average volume of 31,801,514. The stock's 50-day moving average is $12.83 and its 200-day moving average is $13.62. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76. The stock has a market cap of $26.95 billion, a price-to-earnings ratio of -20.28 and a beta of 1.02. Snap Inc. has a 52 week low of $8.28 and a 52 week high of $17.90.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. As a group, research analysts forecast that Snap Inc. will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Snap

Several hedge funds have recently added to or reduced their stakes in the company. Sowell Financial Services LLC lifted its stake in Snap by 3.3% in the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company's stock valued at $392,000 after buying an additional 729 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company's stock valued at $698,000 after buying an additional 891 shares during the period. Charles Schwab Investment Advisory Inc. lifted its stake in Snap by 2.7% in the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company's stock valued at $411,000 after buying an additional 956 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in Snap by 3.3% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company's stock valued at $533,000 after buying an additional 1,000 shares during the period. Finally, Impax Asset Management Group plc lifted its stake in Snap by 4.5% in the third quarter. Impax Asset Management Group plc now owns 23,434 shares of the company's stock valued at $209,000 after buying an additional 1,017 shares during the period. Institutional investors own 47.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNAP. Truist Financial upped their target price on Snap from $12.00 to $16.00 and gave the stock a "hold" rating in a research report on Friday, April 26th. Raymond James reiterated an "outperform" rating and set a $16.00 price target (up from $15.00) on shares of Snap in a report on Friday, April 26th. Wells Fargo & Company upped their price target on Snap from $16.00 to $18.00 and gave the stock an "overweight" rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft upgraded Snap from a "hold" rating to a "buy" rating and upped their price target for the stock from $10.00 to $19.00 in a report on Friday, January 26th. Finally, Benchmark reiterated a "hold" rating on shares of Snap in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Snap has a consensus rating of "Hold" and an average target price of $14.79.

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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