Insider Selling: Snap Inc. (NYSE:SNAP) General Counsel Sells 69,119 Shares of Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 69,119 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $749,249.96. Following the sale, the general counsel now directly owns 2,332,140 shares in the company, valued at approximately $25,280,397.60. The trade was a 2.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Snap Stock Performance

Shares of NYSE:SNAP opened at $10.35 on Friday. The company has a market cap of $17.55 billion, a P/E ratio of -24.63 and a beta of 0.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap Inc. has a one year low of $8.29 and a one year high of $17.33. The business’s 50-day simple moving average is $11.19 and its 200 day simple moving average is $10.74.

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

Institutional Investors Weigh In On Snap

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mountain Hill Investment Partners Corp. purchased a new stake in Snap during the 4th quarter worth approximately $27,000. Advisors Asset Management Inc. increased its holdings in Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in Snap during the 4th quarter worth approximately $30,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Snap during the 4th quarter worth approximately $32,000. Finally, Brooklyn Investment Group purchased a new stake in Snap during the 3rd quarter worth approximately $41,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SNAP shares. Wells Fargo & Company lowered Snap from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $15.00 to $11.00 in a research note on Wednesday, February 5th. Evercore ISI increased their price objective on Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price target on Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their price target on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.87.

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.