Insider Selling: Snap Inc. (NYSE:SNAP) CAO Sells 2,812 Shares of Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 2,812 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the sale, the chief accounting officer now owns 430,252 shares in the company, valued at approximately $4,922,082.88. This trade represents a 0.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, December 10th, Rebecca Morrow sold 32,000 shares of Snap stock. The stock was sold at an average price of $12.42, for a total value of $397,440.00.
• On Monday, November 18th, Rebecca Morrow sold 11,154 shares of Snap stock. The shares were sold at an average price of $10.55, for a total value of $117,674.70.

Snap Price Performance

Shares of Snap stock opened at $11.22 on Thursday. The stock has a market cap of $18.82 billion, a P/E ratio of -19.34 and a beta of 0.97. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The stock’s fifty day moving average is $11.39 and its 200 day moving average is $11.99. Snap Inc. has a one year low of $8.29 and a one year high of $17.75.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) earnings per share. Sell-side analysts anticipate that Snap Inc. will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On Snap

Several large investors have recently added to or reduced their stakes in SNAP. Marshall Wace LLP raised its holdings in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after acquiring an additional 12,533,653 shares during the period. TB Alternative Assets Ltd. grew its position in shares of Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after purchasing an additional 4,098,847 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after purchasing an additional 2,386,519 shares during the period. Discovery Capital Management LLC CT purchased a new position in Snap in the 2nd quarter worth approximately $22,591,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Snap by 49.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after purchasing an additional 1,297,348 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

SNAP has been the topic of a number of recent research reports. Bank of America increased their target price on Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald increased their price objective on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Benchmark reaffirmed a “hold” rating on shares of Snap in a report on Friday, October 25th. Wells Fargo & Company cut their price target on shares of Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Finally, Canaccord Genuity Group raised their price target on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.10.

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.