Snap Inc. (NYSE:SNAP) General Counsel Sells $125,235.89 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 14,183 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $125,235.89. Following the transaction, the general counsel now owns 2,256,101 shares in the company, valued at $19,921,371.83. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Snap Stock Down 2.9 %

Shares of NYSE SNAP opened at $8.73 on Wednesday. The firm’s 50 day moving average price is $10.56 and its 200 day moving average price is $10.80. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The firm has a market cap of $14.80 billion, a P/E ratio of -20.77 and a beta of 0.92. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Guggenheim lowered shares of Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. Bank of America increased their price target on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Susquehanna upped their price objective on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. JMP Securities reiterated a “market outperform” rating and issued a $16.00 target price on shares of Snap in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.87.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Snap in the fourth quarter valued at about $27,000. Advisors Asset Management Inc. grew its position in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after acquiring an additional 1,632 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Snap during the fourth quarter valued at approximately $30,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Snap during the fourth quarter worth $32,000. Finally, Brooklyn Investment Group purchased a new position in shares of Snap in the third quarter valued at $41,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.