Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 14,183 Shares

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 14,183 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $125,235.89. Following the transaction, the general counsel now owns 2,256,101 shares in the company, valued at $19,921,371.83. This represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Snap Price Performance

SNAP stock opened at $8.73 on Wednesday. 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 company’s fifty day moving average price is $10.56 and its 200-day moving average price is $10.80. Snap Inc. has a one year low of $8.29 and a one year high of $17.33. The company has a market capitalization of $14.80 billion, a PE ratio of -20.77 and a beta of 0.92.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 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%. On average, equities analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SNAP shares. Guggenheim downgraded shares of Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Snap in a report on Thursday, December 5th. Barclays reaffirmed an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. BMO Capital Markets reissued an “outperform” rating and issued a $16.00 target price (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. Finally, Bank of America boosted their price target on Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. One 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 company’s stock. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus target price of $36.87.

Hedge Funds Weigh In On Snap

Several institutional investors have recently added to or reduced their stakes in SNAP. Charles Schwab Investment Management Inc. boosted its position in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after acquiring an additional 2,386,519 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in Snap during the third quarter valued at $2,349,000. Jacobs Levy Equity Management Inc. lifted its position in Snap by 49.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock valued at $28,245,000 after purchasing an additional 879,212 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Snap in the 4th quarter worth $289,000. Finally, Holocene Advisors LP bought a new stake in shares of Snap in the 3rd quarter worth about $3,436,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.