Snap Inc. (NYSE:SNAP) SVP Eric Young Sells 119,112 Shares

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 119,112 shares of Snap stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $11.90, for a total transaction of $1,417,432.80. Following the sale, the senior vice president now directly owns 3,391,040 shares in the company, valued at $40,353,376. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Snap Trading Up 2.1 %

Shares of SNAP stock opened at $12.15 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 4.83 and a current ratio of 4.83. Snap Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $13.89. The stock has a 50 day simple moving average of $9.65 and a two-hundred day simple moving average of $10.21. The company has a market cap of $20.00 billion, a P/E ratio of -14.19 and a beta of 1.20.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, October 24th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. Snap had a negative return on equity of 44.24% and a negative net margin of 29.99%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.11 billion. Research analysts forecast that Snap Inc. will post -0.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on SNAP shares. Citigroup boosted their target price on shares of Snap from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 27th. JPMorgan Chase & Co. upped their target price on Snap from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Wednesday, October 25th. HSBC assumed coverage on Snap in a research note on Tuesday, September 26th. They set a “reduce” rating and a $7.50 price target on the stock. Morgan Stanley raised their price objective on shares of Snap from $6.50 to $7.00 and gave the company an “underweight” rating in a report on Wednesday, October 25th. Finally, UBS Group reduced their target price on shares of Snap from $14.00 to $12.00 in a report on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.52.

Institutional Investors Weigh In On Snap

Hedge funds and other institutional investors have recently made changes to their positions in the business. Belpointe Asset Management LLC acquired a new position in Snap during the 3rd quarter valued at about $2,582,000. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Snap by 9.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 45,592 shares of the company’s stock valued at $406,000 after purchasing an additional 3,939 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Snap by 101.7% in the third quarter. The Manufacturers Life Insurance Company now owns 62,711 shares of the company’s stock valued at $559,000 after purchasing an additional 31,627 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Snap during the third quarter worth $167,000. Finally, Alps Advisors Inc. grew its holdings in Snap by 29.7% during the third quarter. Alps Advisors Inc. now owns 72,585 shares of the company’s stock worth $647,000 after buying an additional 16,622 shares in the last quarter. 44.37% of the stock is owned by institutional investors.

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.