Insider Selling: Snap (NYSE:SNAP) General Counsel Sells $591,155.88 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael O’sullivan sold 70,882 shares of Snap stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $8.34, for a total transaction of $591,155.88. Following the transaction, the general counsel directly owned 1,854,982 shares of the company’s stock, valued at approximately $15,470,549.88. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Snap Stock Performance

Shares of NYSE SNAP opened at $7.69 on Friday. The company has a market capitalization of $13.22 billion, a PE ratio of -26.52 and a beta of 0.89. The company has a debt-to-equity ratio of 1.57, a quick ratio of 3.67 and a current ratio of 3.67. The company’s fifty day moving average price is $8.06 and its 200 day moving average price is $8.25. Snap Inc. has a 1 year low of $6.90 and a 1 year high of $13.28.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company posted ($0.09) EPS. The company’s revenue was up 9.8% on a year-over-year basis. Snap has set its Q4 2025 guidance at EPS. On average, research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SNAP shares. Zacks Research downgraded Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Wells Fargo & Company increased their target price on Snap from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Evercore ISI lifted their price target on shares of Snap from $11.00 to $12.00 and gave the company an “in-line” rating in a research note on Wednesday, August 6th. Mizuho started coverage on shares of Snap in a report on Monday, September 29th. They issued a “neutral” rating and a $9.00 price target for the company. Finally, Cantor Fitzgerald increased their price objective on shares of Snap from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Snap presently has a consensus rating of “Hold” and an average target price of $35.06.

Institutional Investors Weigh In On Snap

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC raised its position in shares of Snap by 169.9% in the second quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock valued at $26,000 after buying an additional 1,852 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Snap during the 3rd quarter valued at about $33,000. Quarry LP acquired a new stake in Snap in the 1st quarter valued at about $34,000. Itau Unibanco Holding S.A. acquired a new stake in Snap in the 1st quarter valued at about $35,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Snap during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.