Insider Selling: Snap Inc. (NYSE:SNAP) General Counsel Sells 69,119 Shares of Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 69,119 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $749,249.96. Following the completion of the transaction, the general counsel now directly owns 2,332,140 shares of the company’s stock, valued at approximately $25,280,397.60. This trade represents a 2.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Snap Trading Down 1.0 %

SNAP stock traded down $0.11 during trading on Thursday, hitting $10.68. The company had a trading volume of 15,947,716 shares, compared to its average volume of 31,435,543. Snap Inc. has a one year low of $8.29 and a one year high of $17.33. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The business has a 50-day moving average of $11.21 and a 200-day moving average of $10.73. The stock has a market cap of $18.11 billion, a PE ratio of -25.42 and a beta of 0.99.

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

Hedge Funds Weigh In On Snap

Institutional investors have recently added to or reduced their stakes in the business. Mountain Hill Investment Partners Corp. acquired a new position in Snap in the fourth quarter valued at approximately $27,000. Advisors Asset Management Inc. raised its position in shares of 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 period. Raiffeisen Bank International AG acquired a new position in shares of Snap during the fourth quarter worth approximately $30,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Snap during the fourth quarter worth approximately $32,000. Finally, Brooklyn Investment Group acquired a new position in shares of Snap during the third quarter worth approximately $41,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SNAP shares. UBS Group boosted their price target on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Barclays reaffirmed an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Wells Fargo & Company downgraded Snap from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $15.00 to $11.00 in a research note on Wednesday, February 5th. JMP Securities reissued a “market outperform” rating and set a $16.00 target price on shares of Snap in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. lowered their target price on Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Snap 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.