Eric Young Sells 102,152 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 102,152 shares of Snap stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $1,107,327.68. Following the completion of the transaction, the senior vice president now directly owns 3,443,419 shares of the company’s stock, valued at approximately $37,326,661.96. This represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Snap Price Performance

Shares of NYSE:SNAP opened at $10.35 on Friday. Snap Inc. has a one year low of $8.29 and a one year high of $17.33. The stock has a market capitalization of $17.55 billion, a price-to-earnings ratio of -24.63 and a beta of 0.99. The company has a 50-day simple moving average of $11.19 and a 200-day simple moving average of $10.74. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SNAP. Capital International Investors purchased a new stake in Snap in the 4th quarter valued at approximately $422,049,000. Capital World Investors boosted 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 valued at $906,161,000 after buying an additional 23,569,522 shares in the last quarter. Norges Bank acquired a new position in Snap during the fourth quarter worth $30,162,000. Renaissance Technologies LLC acquired a new stake in shares of Snap in the fourth quarter valued at about $27,713,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Snap by 62.4% during 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 in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNAP. B. Riley lifted their price objective on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Guggenheim lowered Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $16.00 target price (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. Barclays restated an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Snap in a research note on Thursday, December 5th. One equities 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.