Snap Inc. (NYSE:SNAP) General Counsel Sells $298,080.00 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $16.56, for a total value of $298,080.00. Following the sale, the general counsel now owns 481,908 shares in the company, valued at approximately $7,980,396.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Snap Trading Up 1.5 %

SNAP traded up $0.24 on Tuesday, hitting $16.26. The company had a trading volume of 11,627,291 shares, compared to its average volume of 28,447,678. The company has a market cap of $26.68 billion, a PE ratio of -19.80 and a beta of 1.03. Snap Inc. has a 12-month low of $8.28 and a 12-month high of $17.90. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. The business’s fifty day simple moving average is $15.49 and its 200 day simple moving average is $14.16.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.10. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. Equities research analysts expect that Snap Inc. will post -0.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNAP. Morgan Stanley upped their price objective on Snap from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Friday, April 26th. TD Cowen boosted their target price on Snap from $11.00 to $14.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Barclays boosted their target price on Snap from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Raymond James reaffirmed an “outperform” rating and issued a $16.00 price objective (up from $15.00) on shares of Snap in a report on Friday, April 26th. Finally, HSBC raised Snap from a “reduce” rating to a “buy” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.82.

Institutional Trading of Snap

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Snap by 0.9% in the first quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock worth $1,103,786,000 after buying an additional 830,889 shares in the last quarter. SRS Investment Management LLC raised its stake in Snap by 23.6% in the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after buying an additional 12,452,415 shares in the last quarter. Capital World Investors raised its stake in Snap by 0.8% in the first quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock worth $531,206,000 after buying an additional 385,191 shares in the last quarter. Ossiam raised its stake in Snap by 7.1% in the first quarter. Ossiam now owns 11,334,804 shares of the company’s stock worth $130,124,000 after buying an additional 751,846 shares in the last quarter. Finally, Carmignac Gestion bought a new position in Snap in the fourth quarter worth approximately $110,103,000. Institutional investors 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.