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 Snap stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $8.15, for a total transaction of $195,600.00. Following the completion of the transaction, the general counsel now owns 521,790 shares of the company's stock, valued at $4,252,588.50. This represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Snap Trading Down 3.1%

Shares of SNAP stock traded down $0.27 during trading hours on Thursday, hitting $8.19. 34,339,536 shares of the company were exchanged, compared to its average volume of 29,107,466. The firm has a fifty day moving average of $8.30 and a 200 day moving average of $9.96. The firm has a market cap of $13.68 billion, a PE ratio of -19.49 and a beta of 0.61. Snap Inc. has a 1 year low of $7.08 and a 1 year high of $17.33. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on SNAP shares. Morgan Stanley decreased their price objective on shares of Snap from $8.00 to $6.50 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. B. Riley cut their price objective on shares of Snap from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. BMO Capital Markets dropped their target price on shares of Snap from $16.00 to $13.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Barclays restated an "overweight" rating on shares of Snap in a research report on Wednesday, February 5th. Finally, Rosenblatt Securities lowered their price objective on shares of Snap from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $35.62.

Institutional Investors Weigh In On Snap

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Checchi Capital Advisers LLC raised its holdings in Snap by 3.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company's stock worth $335,000 after buying an additional 901 shares during the period. Captrust Financial Advisors raised its holdings in Snap by 8.0% during the 4th quarter. Captrust Financial Advisors now owns 13,918 shares of the company's stock worth $150,000 after buying an additional 1,030 shares during the period. The Manufacturers Life Insurance Company grew its stake in Snap by 1.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company's stock valued at $661,000 after acquiring an additional 1,033 shares in the last quarter. Empowered Funds LLC grew its stake in Snap by 3.1% during the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock valued at $384,000 after acquiring an additional 1,055 shares in the last quarter. Finally, Trajan Wealth LLC grew its stake in shares of Snap by 5.9% in the 4th quarter. Trajan Wealth LLC now owns 20,191 shares of the company's stock valued at $217,000 after buying an additional 1,132 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

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.