Michael J. O’sullivan Sells 10,016 Shares of Snap Inc. (SNAP) Stock

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.

COPYRIGHT VIOLATION NOTICE: This report was first reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this report on another publication, it was illegally stolen and republished in violation of US & international copyright and trademark legislation. The original version of this report can be accessed at https://transcriptdaily.com/2017/11/22/michael-j-osullivan-sells-10016-shares-of-snap-inc-snap-stock.html.

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.

About Snap

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.

Insider Buying and Selling by Quarter for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply