Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 10,016 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $12.54, for a total transaction of $125,600.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Snap Inc. (NYSE SNAP) opened at $12.34 on Wednesday. Snap Inc. has a fifty-two week low of $11.28 and a fifty-two week high of $29.44.
Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.17. The firm had revenue of $207.90 million during the quarter, compared to analyst estimates of $236.71 million. The company’s revenue for the quarter was up 62.2% compared to the same quarter last year. research analysts forecast that Snap Inc. will post -3.04 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of SNAP. Seven Bridges Advisors LLC acquired a new stake in Snap during the 2nd quarter valued at $101,000. WFG Advisors LP boosted its holdings in Snap by 52.4% in the second quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after purchasing an additional 2,537 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Snap by 654.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company’s stock worth $134,000 after acquiring an additional 6,540 shares during the last quarter. First Manhattan Co. lifted its position in Snap by 384.5% during the 3rd quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock worth $110,000 after acquiring an additional 6,056 shares during the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new position in Snap during the 2nd quarter worth $137,000. 19.35% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on SNAP. Drexel Hamilton restated a “buy” rating and set a $30.00 price target on shares of Snap in a research note on Wednesday, August 9th. Deutsche Bank AG reaffirmed a “buy” rating and set a $20.00 price objective on shares of Snap in a report on Wednesday, August 9th. Vetr raised Snap from a “hold” rating to a “buy” rating and set a $13.84 price objective on the stock in a report on Wednesday, August 9th. Jefferies Group LLC dropped their price objective on Snap from $30.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 11th. Finally, Stifel Nicolaus decreased their price target on Snap from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 11th. Fifteen analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $17.12.
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
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