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

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $15.10, for a total value of $271,800.00. Following the sale, the general counsel now owns 456,812 shares of the company’s stock, valued at $6,897,861.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Snap Trading Down 0.3 %

Shares of NYSE SNAP opened at $16.25 on Friday. The company has a quick ratio of 4.39, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. The stock’s 50 day moving average price is $11.73 and its two-hundred day moving average price is $13.06. Snap Inc. has a 52-week low of $7.86 and a 52-week high of $17.90. The stock has a market capitalization of $26.81 billion, a P/E ratio of -20.06 and a beta of 1.02.

Snap (NYSE:SNAP) 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 analyst estimates of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. On average, analysts anticipate that Snap Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. NBC Securities Inc. lifted its holdings in Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after acquiring an additional 1,445 shares during the last quarter. Allworth Financial LP boosted its position in Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares during the period. ICA Group Wealth Management LLC bought a new position in Snap during the 4th quarter worth $51,000. Rakuten Securities Inc. acquired a new stake in Snap in the fourth quarter worth $73,000. Finally, Westpac Banking Corp lifted its stake in Snap by 108.7% in the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after buying an additional 2,506 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNAP has been the subject of several research analyst reports. Piper Sandler upped their price target on Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Truist Financial increased their target price on shares of Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft raised shares of Snap from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $19.00 in a research report on Friday, January 26th. Evercore ISI increased their price objective on shares of Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a research report on Friday, April 26th. Finally, Susquehanna lifted their target price on shares of Snap from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Snap has an average rating of “Hold” and a consensus price target of $14.79.

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.