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 on Tuesday, December 31st. The stock was 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 of the company’s stock, valued at approximately $5,403,718.32. This represents a 3.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Snap Stock Performance

Shares of SNAP opened at $11.97 on Friday. The company has a 50-day moving average of $11.54 and a two-hundred day moving average of $11.65. Snap Inc. has a one year low of $8.29 and a one year high of $17.75. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The stock has a market cap of $20.08 billion, a price-to-earnings ratio of -20.64 and a beta of 0.97.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business earned ($0.21) EPS. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts expect that Snap Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of Snap

Several institutional investors have recently made changes to their positions in SNAP. Bank of New York Mellon Corp lifted its position in Snap by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,558,268 shares of the company’s stock worth $25,883,000 after buying an additional 27,673 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Snap during the second quarter worth $40,000. Concurrent Investment Advisors LLC boosted its position in Snap by 4.0% during the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after purchasing an additional 1,048 shares during the last quarter. CIBC Asset Management Inc grew its stake in Snap by 41.1% in the second quarter. CIBC Asset Management Inc now owns 45,322 shares of the company’s stock valued at $753,000 after purchasing an additional 13,208 shares in the last quarter. Finally, TD Asset Management Inc increased its position in Snap by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 167,755 shares of the company’s stock worth $2,786,000 after purchasing an additional 3,376 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SNAP shares. UBS Group increased their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $14.00 price target on shares of Snap in a report on Wednesday, September 18th. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price objective on shares of Snap in a research note on Wednesday, October 30th. Truist Financial raised their target price on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, Citigroup upped their price target 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. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $37.10.

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.