Eric Young Sells 117,592 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 117,592 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $8.59, for a total value of $1,010,115.28. Following the sale, the senior vice president now owns 3,348,290 shares in the company, valued at approximately $28,761,811.10. The trade was a 3.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Eric Young also recently made the following trade(s):

• On Tuesday, February 18th, Eric Young sold 102,152 shares of Snap stock. The shares were sold at an average price of $10.84, for a total value of $1,107,327.68.

Snap Stock Down 1.6%

SNAP stock opened at $8.54 on Wednesday. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $14.27 billion, a PE ratio of -20.33 and a beta of 0.61. The stock’s 50 day moving average is $8.48 and its 200-day moving average is $10.20. Snap Inc. has a twelve month low of $7.08 and a twelve month high of $17.33.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.12). The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 earnings per share. Sell-side analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Institutional Trading of Snap

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Snap by 6.7% during the first quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company’s stock valued at $953,601,000 after acquiring an additional 6,921,841 shares during the last quarter. Capital World Investors increased its position in shares of Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after acquiring an additional 23,569,522 shares during the last quarter. SRS Investment Management LLC increased its position in shares of Snap by 1.4% during the fourth quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock valued at $793,998,000 after acquiring an additional 1,001,632 shares during the last quarter. Capital International Investors purchased a new stake in shares of Snap during the fourth quarter valued at approximately $422,049,000. Finally, Geode Capital Management LLC increased its position in shares of Snap by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock valued at $127,078,000 after acquiring an additional 134,017 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citigroup cut their target price on Snap from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company cut their price target on Snap from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. BMO Capital Markets cut their price target on Snap from $16.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Citizens Jmp upgraded Snap from a “hold” rating to a “strong-buy” rating in a report on Friday, March 28th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $12.00 price target on shares of Snap in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.62.

Snap Company Profile

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.