Snap Inc (NYSE:SNAP) CAO Rebecca Morrow sold 9,379 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $18.28, for a total value of $171,448.12. Following the transaction, the chief accounting officer now directly owns 265,621 shares in the company, valued at approximately $4,855,551.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NYSE:SNAP opened at $19.00 on Wednesday. Snap Inc has a 1-year low of $5.87 and a 1-year high of $19.29. The business’s 50-day moving average price is $16.25 and its two-hundred day moving average price is $15.64. The company has a current ratio of 7.25, a quick ratio of 7.25 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $26.75 billion, a price-to-earnings ratio of -26.39 and a beta of 1.11.
Snap (NYSE:SNAP) last released its earnings results on Tuesday, October 22nd. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.14. Snap had a negative return on equity of 44.16% and a negative net margin of 63.75%. The firm had revenue of $446.20 million for the quarter, compared to analyst estimates of $436.00 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. The company’s quarterly revenue was up 49.9% on a year-over-year basis. Sell-side analysts predict that Snap Inc will post -0.69 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Snap by 12.0% in the second quarter. Vanguard Group Inc. now owns 59,173,892 shares of the company’s stock worth $846,186,000 after acquiring an additional 6,320,561 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Snap by 34.1% in the second quarter. BlackRock Inc. now owns 21,849,669 shares of the company’s stock worth $312,449,000 after acquiring an additional 5,561,652 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Snap in the third quarter worth about $51,744,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Snap by 837.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,384,158 shares of the company’s stock worth $48,393,000 after acquiring an additional 3,023,183 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Snap by 219.1% in the third quarter. Millennium Management LLC now owns 4,148,898 shares of the company’s stock worth $65,552,000 after acquiring an additional 2,848,867 shares in the last quarter. 32.79% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. Aegis assumed coverage on Snap in a research note on Wednesday, December 11th. They set a “buy” rating and a $24.00 price target on the stock. Pivotal Research upped their price target on Snap from $20.50 to $24.50 and gave the company a “buy” rating in a research note on Wednesday. They noted that the move was a valuation call. Needham & Company LLC raised Snap from an “underperform” rating to a “hold” rating in a research note on Wednesday, October 23rd. Bank of America reaffirmed a “buy” rating and set a $18.00 price target on shares of Snap in a research note on Friday, November 22nd. Finally, JMP Securities raised Snap from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twenty-two have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $18.45.
Snap Company Profile
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.
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