Michael J. O'sullivan Sells 24,000 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP - Get Free Report) General Counsel Michael J. O'sullivan sold 24,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $8.15, for a total transaction of $195,600.00. Following the transaction, the general counsel now directly owns 521,790 shares of the company's stock, valued at $4,252,588.50. This trade represents a 4.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Snap Trading Up 0.7%

SNAP traded up $0.06 on Friday, hitting $8.26. 26,329,881 shares of the company were exchanged, compared to its average volume of 29,194,963. The firm has a fifty day simple moving average of $8.27 and a two-hundred day simple moving average of $9.92. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap Inc. has a 12 month low of $7.08 and a 12 month high of $17.33. The stock has a market capitalization of $13.80 billion, a PE ratio of -19.67 and a beta of 0.61.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS. Sell-side analysts expect that Snap Inc. will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Snap

Hedge funds have recently made changes to their positions in the business. NBC Securities Inc. raised 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 valued at $26,000 after purchasing an additional 3,093 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in shares of Snap during the fourth quarter valued at approximately $27,000. Raiffeisen Bank International AG bought a new position in shares of Snap during the fourth quarter valued at approximately $30,000. Rakuten Securities Inc. grew its stake in Snap by 155.4% in 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 in the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Snap in the fourth quarter worth approximately $32,000. Institutional investors own 47.52% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SNAP shares. Bank of America dropped their target price on shares of Snap from $14.50 to $10.50 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $12.00 target price on shares of Snap in a research report on Wednesday, April 30th. Guggenheim reiterated a "neutral" rating on shares of Snap in a research report on Wednesday, April 2nd. Susquehanna reduced their price objective on shares of Snap from $13.00 to $8.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Finally, B. Riley reduced their price objective on shares of Snap from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Snap has a consensus rating of "Hold" and a consensus price target of $35.62.

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.