Rebecca Morrow Sells 11,154 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 11,154 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the transaction, the chief accounting officer now directly owns 465,064 shares in the company, valued at $4,906,425.20. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Rebecca Morrow also recently made the following trade(s):

• On Monday, September 16th, Rebecca Morrow sold 2,459 shares of Snap stock. The shares were sold at an average price of $9.29, for a total value of $22,844.11.

Snap Stock Performance

Shares of SNAP stock opened at $11.42 on Friday. The stock’s fifty day simple moving average is $10.82 and its 200 day simple moving average is $12.54. 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 one year low of $8.29 and a one year high of $17.90.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. Snap’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.21) EPS. On average, equities analysts anticipate that Snap Inc. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Snap

Several institutional investors have recently bought and sold shares of the business. GraniteShares Advisors LLC raised its position in Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after purchasing an additional 941 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in Snap by 4.0% in the 2nd 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. Metis Global Partners LLC raised its position in Snap by 6.9% in the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after purchasing an additional 1,255 shares during the last quarter. Intech Investment Management LLC raised its position in Snap by 1.9% in the 3rd quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock valued at $830,000 after purchasing an additional 1,433 shares during the last quarter. Finally, DMC Group LLC raised its position in Snap by 10.5% in the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company’s stock valued at $259,000 after purchasing an additional 1,477 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SNAP. Bank of America raised their target price on Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Loop Capital raised their target price on Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Truist Financial raised their target price on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Stifel Nicolaus lowered their target price on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Finally, Susquehanna lowered their target price on Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One investment 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. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and an average target price of $14.31.

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.