Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 12,315 Shares

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 12,315 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.54, for a total value of $129,800.10. Following the completion of the sale, the general counsel now owns 1,195,567 shares in the company, valued at $12,601,276.18. This represents a 1.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Snap Price Performance

Shares of NYSE SNAP opened at $11.42 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The business has a 50-day moving average price of $10.82 and a 200 day moving average price of $12.54.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. Equities analysts predict that Snap Inc. will post -0.4 EPS for the current year.

Institutional Trading of Snap

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Snap by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock worth $1,103,786,000 after acquiring an additional 830,889 shares during the period. Capital World Investors lifted its position in Snap by 0.8% during the 1st quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock worth $531,206,000 after acquiring an additional 385,191 shares during the period. Marshall Wace LLP lifted its position in Snap by 587.3% during the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after acquiring an additional 12,533,653 shares during the period. Geode Capital Management LLC lifted its position in Snap by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after acquiring an additional 575,324 shares during the period. Finally, TB Alternative Assets Ltd. lifted its position in Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after acquiring an additional 4,098,847 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Truist Financial upped their price target on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Evercore ISI upped their price target on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. B. Riley upped their price target on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Roth Mkm restated a “neutral” rating and set a $14.00 price target on shares of Snap in a report on Wednesday, September 18th. Finally, Canaccord Genuity Group upped their price target on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock 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.