Snap Inc. (NYSE:SNAP) General Counsel Sells $271,800.00 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $15.10, for a total value of $271,800.00. Following the sale, the general counsel now directly owns 456,812 shares in the company, valued at $6,897,861.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Snap Trading Up 2.8 %

NYSE SNAP traded up $0.44 on Thursday, reaching $16.30. The stock had a trading volume of 28,802,873 shares, compared to its average volume of 32,534,299. The firm has a market capitalization of $26.91 billion, a price-to-earnings ratio of -19.57 and a beta of 1.02. The company has a quick ratio of 4.39, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. Snap Inc. has a 12-month low of $7.86 and a 12-month high of $17.90. The stock has a fifty day moving average price of $11.51 and a two-hundred day moving average price of $12.99.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. As a group, sell-side analysts forecast that Snap Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SNAP. Piper Sandler increased their price target on Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Barclays raised their target price on Snap from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft upgraded Snap from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $19.00 in a research report on Friday, January 26th. Canaccord Genuity Group raised their target price on Snap from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Finally, The Goldman Sachs Group raised their target price on Snap from $13.50 to $16.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.79.

Hedge Funds Weigh In On Snap

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Snap by 1.5% in the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after acquiring an additional 1,352,655 shares in the last quarter. Jump Financial LLC grew its stake in shares of Snap by 565.4% in the third quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock worth $2,343,000 after acquiring an additional 223,432 shares in the last quarter. Allworth Financial LP grew its stake in shares of Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of Snap during the third quarter worth $423,000. Finally, Korea Investment CORP grew its stake in shares of Snap by 191.7% during the third quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock worth $3,703,000 after purchasing an additional 273,156 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.