Snap Inc. (NYSE:SNAP) General Counsel Sells $195,120.00 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total transaction of $195,120.00. Following the completion of the sale, the general counsel now owns 498,498 shares in the company, valued at $5,403,718.32. This represents a 3.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Snap Trading Up 4.4 %

NYSE:SNAP opened at $11.24 on Friday. The firm has a 50-day simple moving average of $11.51 and a 200-day simple moving average of $11.68. Snap Inc. has a one year low of $8.29 and a one year high of $17.75. The firm has a market cap of $18.85 billion, a P/E ratio of -19.38 and a beta of 0.97. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. Snap’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. Equities analysts anticipate that Snap Inc. will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently added to or reduced their stakes in SNAP. V Square Quantitative Management LLC purchased a new stake in shares of Snap during the third quarter valued at about $29,000. Paladin Wealth LLC bought a new position in shares of Snap during the 3rd quarter worth approximately $30,000. Advisors Asset Management Inc. lifted its position in Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after acquiring an additional 1,632 shares during the last quarter. Hollencrest Capital Management acquired a new stake in Snap in the second quarter valued at approximately $33,000. Finally, Rothschild Investment LLC acquired a new position in shares of Snap during the second quarter worth $40,000. Institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

SNAP has been the topic of a number of research reports. Stifel Nicolaus reduced their target price on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. The Goldman Sachs Group upped their price objective on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. B. Riley lifted their target price on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company decreased their price target on Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Finally, Canaccord Genuity Group lifted their price objective 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. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.10.

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.