Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow Sells 2,812 Shares

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 2,812 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the transaction, the chief accounting officer now owns 430,252 shares of the company’s stock, valued at approximately $4,922,082.88. This trade represents a 0.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Rebecca Morrow also recently made the following trade(s):

• On Tuesday, December 10th, Rebecca Morrow sold 32,000 shares of Snap stock. The shares were sold at an average price of $12.42, for a total value of $397,440.00.
• On Monday, November 18th, Rebecca Morrow sold 11,154 shares of Snap stock. The shares were sold at an average price of $10.55, for a total transaction of $117,674.70.

Snap Stock Performance

Shares of NYSE SNAP traded up $0.04 during midday trading on Wednesday, hitting $11.22. The company’s stock had a trading volume of 49,316,313 shares, compared to its average volume of 27,839,719. Snap Inc. has a one year low of $8.29 and a one year high of $17.75. The firm has a market capitalization of $18.82 billion, a price-to-earnings ratio of -19.34 and a beta of 0.97. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a fifty day moving average price of $11.38 and a 200 day moving average price of $11.99.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the business earned ($0.21) earnings per share. Snap’s revenue was up 15.4% compared to the same quarter last year. On average, research analysts forecast that Snap Inc. will post -0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on SNAP. Roth Mkm reissued a “neutral” rating and issued a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Snap in a report on Thursday, December 5th. Bank of America raised their price objective on shares of Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, JMP Securities decreased their price target on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research note on Wednesday, October 30th. One investment 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 stock. According to data from MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus price target of $37.10.

Hedge Funds Weigh In On Snap

A number of institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares in the last quarter. Kiley Juergens Wealth Management LLC purchased a new position in Snap in the second quarter worth $213,000. Destiny Wealth Partners LLC bought a new position in Snap in the second quarter valued at $3,506,000. Bank of New York Mellon Corp raised its position in Snap by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 1,558,268 shares of the company’s stock valued at $25,883,000 after purchasing an additional 27,673 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Snap by 368.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 155,723 shares of the company’s stock worth $2,587,000 after buying an additional 122,511 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

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.