Insider Selling: Snap Inc. (NYSE:SNAP) SVP Sells 112,020 Shares of Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 112,020 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the transaction, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at approximately $29,445,556.40. This trade represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Snap Price Performance

Snap stock opened at $10.60 on Thursday. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The stock’s 50-day moving average is $10.79 and its 200-day moving average is $12.55.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the company posted ($0.21) earnings per share. Snap’s revenue was up 15.4% compared to the same quarter last year. Equities research analysts anticipate that Snap Inc. will post -0.41 earnings per share for the current year.

Institutional Trading of Snap

Several large investors have recently added to or reduced their stakes in SNAP. Russell Investments Group Ltd. grew its stake in shares of Snap by 31.9% in the first quarter. Russell Investments Group Ltd. now owns 275,539 shares of the company’s stock valued at $3,160,000 after buying an additional 66,694 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Snap by 12.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 110,654 shares of the company’s stock valued at $1,240,000 after purchasing an additional 12,300 shares during the period. Vanguard Group Inc. lifted its position in shares of Snap by 0.9% during the first quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock worth $1,103,786,000 after purchasing an additional 830,889 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Snap by 613.5% in the first quarter. Acadian Asset Management LLC now owns 304,210 shares of the company’s stock valued at $3,488,000 after purchasing an additional 261,572 shares during the period. Finally, UniSuper Management Pty Ltd grew its holdings in Snap by 92.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 14,800 shares of the company’s stock valued at $170,000 after purchasing an additional 7,100 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SNAP shares. Wells Fargo & Company dropped their price objective on Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Loop Capital boosted their price objective on shares of Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus dropped their target price on shares of Snap from $13.00 to $11.00 and set a “hold” rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $14.00 price target on shares of Snap in a report on Wednesday, September 18th. Finally, Argus raised shares of Snap to a “hold” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus target price of $14.31.

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.