Snap Inc. (NYSE:SNAP – Get Free Report) CAO Rebecca Morrow sold 2,560 shares of Snap stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.83, for a total value of $22,604.80. Following the completion of the transaction, the chief accounting officer now owns 427,332 shares of the company’s stock, valued at $3,773,341.56. The trade was a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Rebecca Morrow also recently made the following trade(s):
- On Tuesday, February 18th, Rebecca Morrow sold 8,837 shares of Snap stock. The shares were sold at an average price of $10.84, for a total value of $95,793.08.
Snap Trading Down 2.9 %
NYSE:SNAP opened at $8.73 on Wednesday. The firm has a market cap of $14.80 billion, a P/E ratio of -20.77 and a beta of 0.92. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock’s 50 day simple moving average is $10.56 and its 200-day simple moving average is $10.80. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.33.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in Snap by 19.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,115 shares of the company’s stock worth $184,000 after acquiring an additional 2,792 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new position in Snap during the fourth quarter worth $3,838,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Snap during the fourth quarter worth $5,135,000. B. Riley Wealth Advisors Inc. acquired a new position in Snap during the fourth quarter worth $225,000. Finally, Polar Asset Management Partners Inc. acquired a new position in Snap during the fourth quarter worth $4,924,000. Institutional investors and hedge funds own 47.52% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on SNAP. BMO Capital Markets reiterated an “outperform” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Guggenheim cut Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. Wells Fargo & Company cut Snap from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $15.00 to $11.00 in a research note on Wednesday, February 5th. Susquehanna boosted their target price on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Bank of America boosted their target price on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snap has an average rating of “Hold” and an average target price of $36.87.
Get Our Latest Stock Report on SNAP
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.
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