Snap Inc. (NYSE:SNAP) CEO Sells $2,152,500.00 in Stock

Snap Inc. (NYSE:SNAP) CEO Evan Spiegel sold 150,000 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $14.35, for a total transaction of $2,152,500.00. Following the sale, the chief executive officer now directly owns 3,477,844 shares in the company, valued at $49,907,061.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Evan Spiegel also recently made the following trade(s):

• On Thursday, February 8th, Evan Spiegel sold 150,000 shares of Snap stock. The stock was sold at an average price of $11.11, for a total transaction of $1,666,500.00.

Snap Stock Up 2.8 %

SNAP stock opened at $16.30 on Friday. The firm has a market cap of $26.91 billion, a PE ratio of -20.12 and a beta of 1.02. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 3.76. The firm’s 50 day moving average price is $11.62 and its 200-day moving average price is $13.02. Snap Inc. has a one year low of $7.86 and a one year high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. On average, equities research analysts anticipate that Snap Inc. will post -0.47 EPS for the current year.

Institutional Trading of Snap

Institutional investors have recently made changes to their positions in the company. NBC Securities Inc. raised its position in shares of Snap by 2,580.4% during the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after buying an additional 1,445 shares during the period. Allworth Financial LP raised its position in shares of 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 buying an additional 1,708 shares during the period. ICA Group Wealth Management LLC purchased a new stake in shares of Snap during the 4th quarter valued at approximately $51,000. Rakuten Securities Inc. purchased a new stake in shares of Snap during the 4th quarter valued at approximately $73,000. Finally, Westpac Banking Corp increased its holdings in Snap by 108.7% in the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after purchasing an additional 2,506 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SNAP. Roth Mkm reissued a “neutral” rating and set a $14.00 target price on shares of Snap in a research note on Tuesday, April 23rd. Barclays upped their price target on shares of Snap from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Canaccord Genuity Group upped their price target on shares of Snap from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. TD Cowen upped their price target on shares of Snap from $11.00 to $14.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, Piper Sandler upped their price target on shares of Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Snap has a consensus 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.