Michael J. O’sullivan Sells 18,000 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $11.49, for a total value of $206,820.00. Following the sale, the general counsel now owns 480,498 shares of the company’s stock, valued at approximately $5,520,922.02. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Snap Stock Performance

NYSE SNAP opened at $11.61 on Wednesday. The business has a 50-day moving average price of $11.52 and a 200-day moving average price of $10.89. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.50. The firm has a market cap of $19.46 billion, a price-to-earnings ratio of -20.01 and a beta of 0.99. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. As a group, equities research analysts predict that Snap Inc. will post -0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on SNAP. Truist Financial upped their price objective on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Snap from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Canaccord Genuity Group upped their price objective on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 price objective on shares of Snap in a research report on Wednesday, October 30th. Finally, B. Riley upped their price objective on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One research 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, Snap has a consensus rating of “Hold” and a consensus price target of $36.99.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Snap by 5.2% during the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock valued at $124,742,000 after buying an additional 575,324 shares during the last quarter. TB Alternative Assets Ltd. lifted its stake in shares of Snap by 105.6% in the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Snap by 62.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after purchasing an additional 2,386,519 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted 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 valued at $41,842,000 after purchasing an additional 1,297,348 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Snap by 0.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company’s stock valued at $34,950,000 after purchasing an additional 15,294 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

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.