Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 18,000 Shares

Snap Inc. (NYSE:SNAPGet Free Report) General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $15.01, for a total value of $270,180.00. Following the completion of the sale, the general counsel now owns 449,383 shares of the company’s stock, valued at $6,745,238.83. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Snap Price Performance

Shares of SNAP traded down $0.43 during midday trading on Tuesday, reaching $14.90. The stock had a trading volume of 16,089,576 shares, compared to its average volume of 30,274,457. Snap Inc. has a 52 week low of $8.28 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76. The firm’s 50 day moving average price is $13.62 and its 200-day moving average price is $13.90. The company has a market capitalization of $24.44 billion, a P/E ratio of -18.37 and a beta of 1.07.

Snap (NYSE:SNAPGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.12 billion. On average, analysts forecast that Snap Inc. will post -0.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNAP has been the subject of a number of analyst reports. Evercore ISI boosted their price objective on Snap from $13.00 to $14.00 and gave the company an “in-line” rating in a research report on Friday, April 26th. Susquehanna boosted their price objective on Snap from $12.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. TD Cowen boosted their price objective on Snap from $11.00 to $14.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Roth Mkm restated a “neutral” rating and set a $14.00 price objective on shares of Snap in a research report on Tuesday, April 23rd. Finally, Canaccord Genuity Group boosted their price objective on Snap from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.79.

Read Our Latest Research Report on SNAP

Institutional Trading of Snap

Hedge funds and other institutional investors have recently modified their holdings of the company. NBC Securities Inc. raised its stake in shares of Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after buying an additional 1,445 shares in the last quarter. Allworth Financial LP raised its position in shares of Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares during the period. ICA Group Wealth Management LLC acquired a new stake in shares of Snap during the fourth quarter worth $51,000. Rakuten Securities Inc. acquired a new stake in shares of Snap during the fourth quarter worth $73,000. Finally, Westpac Banking Corp raised its position in shares of Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after purchasing an additional 2,506 shares during the period. Institutional investors own 47.52% of the company’s stock.

About Snap

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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.

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