Snap Inc. (NYSE:SNAP) Director Joanna Coles Sells 6,434 Shares

Snap Inc. (NYSE:SNAP) Director Joanna Coles sold 6,434 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total transaction of $77,208.00. Following the sale, the director now directly owns 54,761 shares in the company, valued at approximately $657,132. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Snap Stock Up 3.0 %

SNAP stock traded up $0.37 during trading on Friday, reaching $12.53. The stock had a trading volume of 49,720,482 shares, compared to its average volume of 27,676,689. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The firm has a fifty day moving average price of $10.12 and a 200 day moving average price of $12.69. The company has a market capitalization of $20.79 billion, a P/E ratio of -22.28 and a beta of 1.01. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. Snap had a negative return on equity of 35.63% and a negative net margin of 18.49%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. On average, equities analysts anticipate that Snap Inc. will post -0.47 earnings per share for the current year.

Analysts Set New Price Targets

SNAP has been the topic of several research analyst reports. UBS Group boosted their price target on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday. HSBC downgraded shares of Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. B. Riley raised their price target on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America boosted their price target on Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and an average target price of $14.25.

Institutional Investors Weigh In On Snap

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GraniteShares Advisors LLC grew its position in shares of Snap by 2.5% during the second quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock worth $634,000 after buying an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. grew its holdings in Snap by 2.7% during the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after acquiring an additional 956 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in shares of Snap by 4.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock worth $448,000 after purchasing an additional 1,048 shares during the last quarter. DMC Group LLC raised its stake in shares of Snap by 10.5% in the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company’s stock valued at $259,000 after purchasing an additional 1,477 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Snap by 354.1% during 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 last quarter. 47.52% of the stock is currently owned by hedge funds and other 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.