Eric Young Sells 50,000 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 50,000 shares of Snap stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $10.54, for a total value of $527,000.00. Following the completion of the transaction, the senior vice president now directly owns 752,110 shares in the company, valued at $7,927,239.40. This trade represents a 6.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Eric Young also recently made the following trade(s):

• On Monday, November 18th, Eric Young sold 112,020 shares of Snap stock. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00.

Snap Stock Performance

Shares of Snap stock opened at $11.42 on Friday. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.90. The firm’s 50-day moving average is $10.85 and its 200 day moving average is $12.50. The stock has a market cap of $19.15 billion, a price-to-earnings ratio of -19.69 and a beta of 0.99. 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 (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) earnings per share. Sell-side analysts anticipate that Snap Inc. will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNAP. Marshall Wace LLP grew its position in Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after purchasing an additional 12,533,653 shares during the period. TB Alternative Assets Ltd. raised its position in Snap by 105.6% in the third 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. Charles Schwab Investment Management Inc. boosted its stake in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares during the last quarter. Discovery Capital Management LLC CT bought a new stake in shares of Snap during the 2nd quarter valued at $22,591,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Snap by 49.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after purchasing an additional 1,297,348 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Loop Capital upped their price target on shares of Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Canaccord Genuity Group upped their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their target price on Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Stifel Nicolaus lowered their price target on Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.31.

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.