Eric Young Sells 50,000 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $10.54, for a total value of $527,000.00. Following the completion of the transaction, the senior vice president now owns 752,110 shares of the company’s stock, valued at $7,927,239.40. The trade was a 6.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Eric Young also recently made the following trade(s):

• On Monday, November 18th, Eric Young sold 112,020 shares of Snap stock. The stock was sold at an average price of $10.55, for a total transaction of $1,181,811.00.

Snap Stock Performance

SNAP stock opened at $11.42 on Friday. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.90. The firm has a market cap of $19.15 billion, a price-to-earnings ratio of -19.69 and a beta of 0.99. The business’s fifty day simple moving average is $10.85 and its two-hundred day simple moving average is $12.50. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

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

Hedge Funds Weigh In On Snap

A number of hedge funds have recently added to or reduced their stakes in SNAP. Hollencrest Capital Management purchased a new stake in shares of Snap in the second quarter valued at approximately $33,000. Blue Trust Inc. lifted its holdings in shares of Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after buying an additional 1,682 shares during the period. Rothschild Investment LLC bought a new position in shares of Snap during the 2nd quarter worth $40,000. V Square Quantitative Management LLC purchased a new position in shares of Snap during the third quarter valued at $29,000. Finally, Paladin Wealth LLC bought a new stake in shares of Snap in the third quarter valued at about $30,000. 47.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on SNAP shares. Loop Capital increased their price objective on shares of Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Evercore ISI increased their price target on Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Argus raised Snap to a “hold” rating in a research note on Thursday, August 8th. HSBC downgraded Snap from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $14.00 price target on shares of Snap in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.31.

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.