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 Snap stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total transaction of $195,120.00. Following the completion of the transaction, the general counsel now directly owns 498,498 shares in the company, valued at $5,403,718.32. This trade represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Snap Trading Up 4.4 %

SNAP traded up $0.47 during trading on Thursday, hitting $11.24. The company’s stock had a trading volume of 16,367,511 shares, compared to its average volume of 27,707,576. The firm has a market capitalization of $18.85 billion, a P/E ratio of -19.38 and a beta of 0.97. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.75. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock’s fifty day moving average price is $11.51 and its 200-day moving average price is $11.68.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Evercore ISI boosted their price target on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Piper Sandler reissued a “neutral” rating and set a $13.00 target price (up previously from $12.00) on shares of Snap in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price target on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Citigroup upped their price objective on shares of Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, JMP Securities cut their target price on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $37.10.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNAP. Marshall Wace LLP raised its holdings in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after buying an additional 12,533,653 shares during the last quarter. TB Alternative Assets Ltd. increased its position in shares of Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after acquiring an additional 4,098,847 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Snap by 62.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares during the last quarter. Discovery Capital Management LLC CT bought a new position in Snap in the 2nd quarter valued at about $22,591,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Snap by 49.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after purchasing an additional 1,297,348 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

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.