Insider Selling: Snap Inc. (NYSE:SNAP) General Counsel Sells $206,820.00 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $11.49, for a total value of $206,820.00. Following the sale, the general counsel now directly owns 480,498 shares of the company’s stock, valued at $5,520,922.02. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Snap Stock Down 8.1 %

SNAP opened at $10.67 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.50. The stock has a market capitalization of $17.89 billion, a P/E ratio of -18.39 and a beta of 0.99. The business has a 50 day simple moving average of $11.51 and a 200-day simple moving average of $10.89.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. On average, equities analysts anticipate that Snap Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Trading of Snap

Institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Snap during the 3rd quarter valued at approximately $29,000. Paladin Wealth LLC purchased a new position in Snap in the 3rd quarter valued at approximately $30,000. Advisors Asset Management Inc. raised its holdings in Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares during the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in Snap during the fourth quarter worth $32,000. Finally, Brooklyn Investment Group acquired a new stake in Snap in the third quarter valued at $41,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on SNAP. Canaccord Genuity Group boosted their target price on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Loop Capital boosted their price objective on shares of Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company downgraded shares of Snap from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $15.00 to $11.00 in a research report on Wednesday. Barclays reissued an “overweight” rating on shares of Snap in a research report on Wednesday. Finally, UBS Group raised their price objective on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $36.87.

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.