Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow Sells 2,560 Shares of Stock

Snap Inc. (NYSE:SNAPGet 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.

Snap (NYSE:SNAPGet Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Equities analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

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

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Snap (NYSE:SNAP)

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