Jeremi Gorman Sells 36,447 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP – Get Rating) insider Jeremi Gorman sold 36,447 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $23.83, for a total value of $868,532.01. Following the transaction, the insider now owns 1,495,068 shares of the company’s stock, valued at $35,627,470.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Jeremi Gorman also recently made the following trade(s):

• On Wednesday, May 18th, Jeremi Gorman sold 8,150 shares of Snap stock. The shares were sold at an average price of $24.00, for a total value of $195,600.00.
• On Monday, April 18th, Jeremi Gorman sold 36,111 shares of Snap stock. The stock was sold at an average price of $32.26, for a total transaction of $1,164,940.86.
• On Wednesday, March 16th, Jeremi Gorman sold 32,684 shares of Snap stock. The shares were sold at an average price of $31.76, for a total transaction of $1,038,043.84.

Shares of SNAP opened at $22.73 on Thursday. The company has a market cap of $37.19 billion, a price-to-earnings ratio of -63.14 and a beta of 1.18. The business’s fifty day simple moving average is $31.43 and its two-hundred day simple moving average is $39.06. Snap Inc. has a 12 month low of $20.95 and a 12 month high of $83.34. The company has a current ratio of 7.19, a quick ratio of 7.19 and a debt-to-equity ratio of 1.05.

Snap (NYSE:SNAP – Get Rating) last released its quarterly earnings data on Thursday, April 21st. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.03). Snap had a negative net margin of 12.71% and a negative return on equity of 16.37%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the business earned ($0.19) earnings per share. The company’s quarterly revenue was up 38.1% on a year-over-year basis. As a group, research analysts forecast that Snap Inc. will post -0.43 EPS for the current year.

SNAP has been the subject of a number of research analyst reports. Wedbush dropped their price objective on shares of Snap from $40.00 to $34.00 in a report on Tuesday, April 26th. Jefferies Financial Group dropped their price target on Snap from $60.00 to $52.00 in a research note on Wednesday, April 20th. Oppenheimer reduced their price objective on Snap from $75.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, February 4th. Morgan Stanley dropped their target price on Snap from $59.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, April 22nd. Finally, Rosenblatt Securities began coverage on shares of Snap in a research report on Tuesday, April 19th. They set a “buy” rating and a $49.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Snap has a consensus rating of “Buy” and a consensus price target of $52.29.

A number of institutional investors have recently modified their holdings of the stock. Assetmark Inc. grew its position in Snap by 305.8% in the 3rd quarter. Assetmark Inc. now owns 418 shares of the company’s stock worth $31,000 after purchasing an additional 315 shares during the period. Center for Financial Planning Inc. purchased a new position in shares of Snap in the 3rd quarter worth $41,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Snap by 80.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 618 shares of the company’s stock worth $46,000 after acquiring an additional 276 shares during the period. Manchester Capital Management LLC increased its position in Snap by 64.7% during the fourth quarter. Manchester Capital Management LLC now owns 621 shares of the company’s stock valued at $29,000 after acquiring an additional 244 shares during the last quarter. Finally, Jacobi Capital Management LLC bought a new position in Snap in the third quarter valued at about $47,000. Institutional investors own 53.88% of the company’s stock.

Snap Company Profile (Get Rating)

Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

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