Joanna Coles Sells 1,666 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) Director Joanna Coles sold 1,666 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $12.13, for a total transaction of $20,208.58. Following the transaction, the director now owns 53,095 shares in the company, valued at approximately $644,042.35. The trade was a 3.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Joanna Coles also recently made the following trade(s):

• On Wednesday, October 30th, Joanna Coles sold 6,434 shares of Snap stock. The shares were sold at an average price of $12.00, for a total value of $77,208.00.

Snap Trading Down 3.1 %

Snap stock opened at $10.77 on Friday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.90. The firm’s fifty day moving average price is $10.60 and its 200-day moving average price is $12.73.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the company earned ($0.21) EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, analysts forecast that Snap Inc. will post -0.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SNAP. Loop Capital raised their price target on shares of Snap from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JMP Securities reduced their target price on Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Citigroup lowered their target price on Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Finally, HSBC lowered shares of Snap from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.31.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP lifted its holdings in shares of Snap by 587.3% during the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after acquiring an additional 12,533,653 shares during the last quarter. TB Alternative Assets Ltd. raised its position in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after purchasing an additional 2,386,519 shares during the last quarter. Discovery Capital Management LLC CT purchased a new position in shares of Snap in the 2nd quarter worth about $22,591,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of 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. Hedge funds and other institutional investors 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.