Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 18,000 Shares

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

Snap Trading Up 1.5 %

SNAP stock opened at $16.26 on Wednesday. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 1.55. The business’s fifty day simple moving average is $15.58 and its two-hundred day simple moving average is $14.16. Snap Inc. has a twelve month low of $8.28 and a twelve month high of $17.90.

Snap (NYSE:SNAP) last released its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. As a group, analysts predict that Snap Inc. will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently made changes to their positions in SNAP. NBC Securities Inc. grew its position in shares of Snap by 2,580.4% during the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after buying an additional 1,445 shares in the last quarter. Allworth Financial LP grew its position in shares of Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after buying an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Snap during the 4th quarter worth $51,000. Rakuten Securities Inc. bought a new position in shares of Snap during the 4th quarter worth $73,000. Finally, Westpac Banking Corp grew its position in shares of Snap by 108.7% during the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after buying an additional 2,506 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SNAP. Truist Financial upped their price target on Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Roth Mkm restated a “neutral” rating and issued a $14.00 price target on shares of Snap in a research note on Tuesday, April 23rd. Stifel Nicolaus upped their price target on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Royal Bank of Canada upped their price target on Snap from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Finally, Barclays upped their price target on Snap from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.82.

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.