Michael J. O’sullivan Sells 59,053 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 59,053 shares of Snap stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $548,602.37. Following the transaction, the general counsel now directly owns 1,258,278 shares in the company, valued at $11,689,402.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Snap Trading Up 2.7 %

SNAP traded up $0.25 during trading on Wednesday, reaching $9.67. The company had a trading volume of 32,502,632 shares, compared to its average volume of 27,445,320. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The business has a 50 day simple moving average of $10.97 and a 200-day simple moving average of $12.85. The stock has a market cap of $15.87 billion, a P/E ratio of -11.89 and a beta of 1.01. Snap Inc. has a 52 week low of $8.28 and a 52 week high of $17.90.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. On average, equities analysts anticipate that Snap Inc. will post -0.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNAP. Wolfe Research initiated coverage on shares of Snap in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Morgan Stanley upgraded shares of Snap from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $12.00 to $16.00 in a research report on Tuesday, July 23rd. JMP Securities reaffirmed a “market perform” rating on shares of Snap in a report on Wednesday. Hsbc Global Res lowered Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Bank of America lowered their price objective on Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.87.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Hollencrest Capital Management purchased a new stake in shares of Snap in the second quarter worth approximately $33,000. Blue Trust Inc. increased its stake in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC bought a new stake in shares of Snap during the second quarter worth $40,000. J.Safra Asset Management Corp boosted its stake in shares of Snap by 534.4% during the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after purchasing an additional 2,330 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Snap during the fourth quarter valued at $108,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.