Michael J. O’sullivan Sells 24,000 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 24,000 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $8.60, for a total value of $206,400.00. Following the completion of the transaction, the general counsel now directly owns 507,660 shares in the company, valued at approximately $4,365,876. This represents a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Snap Price Performance

Shares of NYSE:SNAP opened at $8.06 on Friday. 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 52 week low of $7.66 and a 52 week high of $17.33. The firm has a market cap of $13.66 billion, a PE ratio of -19.18 and a beta of 0.92. The firm’s fifty day moving average is $9.95 and its 200-day moving average is $10.77.

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

Institutional Trading of Snap

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. Capital World Investors boosted its stake in shares of Snap by 38.9% in the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after purchasing an additional 23,569,522 shares during the last quarter. SRS Investment Management LLC grew its holdings in Snap by 1.4% during the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock worth $793,998,000 after acquiring an additional 1,001,632 shares during the period. Capital International Investors bought a new position in shares of Snap in the 4th quarter worth about $422,049,000. Geode Capital Management LLC lifted its stake in shares of Snap by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock valued at $127,078,000 after purchasing an additional 134,017 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Snap by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company’s stock valued at $76,201,000 after purchasing an additional 828,285 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on SNAP shares. BMO Capital Markets restated an “outperform” rating and issued a $16.00 price target (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Susquehanna raised their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Wells Fargo & Company cut their price target on Snap from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, March 31st. Guggenheim restated a “neutral” rating on shares of Snap in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their target price on Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Snap has an average rating of “Hold” and a consensus price target of $36.80.

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.