Insider Selling: Snap Inc. (NYSE:SNAP) CAO Sells 8,837 Shares of Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 8,837 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08. Following the transaction, the chief accounting officer now directly owns 429,892 shares in the company, valued at approximately $4,660,029.28. This represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, December 16th, Rebecca Morrow sold 2,812 shares of Snap stock. The stock was sold at an average price of $11.44, for a total transaction of $32,169.28.
• 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 transaction of $397,440.00.

Snap Stock Down 1.0 %

Shares of SNAP stock traded down $0.11 during trading on Thursday, hitting $10.68. 15,947,716 shares of the company were exchanged, compared to its average volume of 31,435,543. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The firm has a market capitalization of $18.11 billion, a price-to-earnings ratio of -25.42 and a beta of 0.99. The business’s 50-day simple moving average is $11.21 and its 200 day simple moving average is $10.73. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.

Institutional Trading of Snap

A number of institutional investors have recently added to or reduced their stakes in SNAP. Capital International Investors acquired a new stake in Snap in the fourth quarter valued at approximately $422,049,000. Capital World Investors lifted its stake in shares of Snap by 38.9% in the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock worth $906,161,000 after buying an additional 23,569,522 shares during the last quarter. Norges Bank acquired a new stake in shares of Snap in the fourth quarter worth $30,162,000. Renaissance Technologies LLC acquired a new stake in shares of Snap in the fourth quarter worth $27,713,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after buying an additional 2,386,519 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on SNAP shares. Wells Fargo & Company downgraded shares of Snap from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $15.00 to $11.00 in a research note on Wednesday, February 5th. Barclays reissued an “overweight” rating on shares of Snap in a research report on Wednesday, February 5th. BMO Capital Markets reissued an “outperform” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Citigroup increased their price objective on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Citizens Jmp lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.87.

About Snap

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.