Snap Inc. (NYSE:SNAP) Insider Jeremi Gorman Sells 36,816 Shares of Stock

Snap Inc. (NYSE:SNAPGet Rating) insider Jeremi Gorman sold 36,816 shares of the stock in a transaction on Friday, September 16th. The shares were sold at an average price of $11.34, for a total value of $417,493.44. Following the transaction, the insider now directly owns 1,343,344 shares of the company’s stock, valued at $15,233,520.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Jeremi Gorman also recently made the following trade(s):

  • On Tuesday, August 16th, Jeremi Gorman sold 34,986 shares of Snap stock. The shares were sold at an average price of $12.28, for a total value of $429,628.08.
  • On Monday, July 18th, Jeremi Gorman sold 34,032 shares of Snap stock. The shares were sold at an average price of $14.08, for a total value of $479,170.56.

Snap Trading Up 0.4 %

Snap stock opened at $11.35 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 5.65 and a quick ratio of 5.65. The company has a market capitalization of $18.72 billion, a price-to-earnings ratio of -21.83 and a beta of 0.97. Snap Inc. has a one year low of $9.34 and a one year high of $83.34. The company’s fifty day moving average price is $11.52 and its two-hundred day moving average price is $19.93.

Snap (NYSE:SNAPGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.04). The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.14 billion. Snap had a negative net margin of 18.31% and a negative return on equity of 21.55%. On average, analysts forecast that Snap Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Snap

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cornerstone Advisory LLC acquired a new stake in shares of Snap in the fourth quarter valued at about $33,000. AdvisorNet Financial Inc grew its position in shares of Snap by 198.7% in the first quarter. AdvisorNet Financial Inc now owns 708 shares of the company’s stock valued at $25,000 after purchasing an additional 471 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Snap in the first quarter valued at about $27,000. GHP Investment Advisors Inc. acquired a new stake in shares of Snap in the first quarter valued at about $28,000. Finally, Meeder Asset Management Inc. grew its position in shares of Snap by 1,189.2% in the first quarter. Meeder Asset Management Inc. now owns 838 shares of the company’s stock valued at $30,000 after purchasing an additional 773 shares during the last quarter. 51.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SNAP. Deutsche Bank Aktiengesellschaft downgraded Snap from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $14.00 in a research report on Friday, July 22nd. Oppenheimer downgraded Snap from an “outperform” rating to a “market perform” rating in a research report on Friday, July 22nd. Huber Research downgraded Snap from an “overweight” rating to an “underweight” rating in a research report on Monday, June 6th. Wells Fargo & Company downgraded Snap from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 22nd. Finally, The Goldman Sachs Group downgraded Snap from a “buy” rating to a “neutral” rating and cut their price objective for the company from $25.00 to $12.00 in a research report on Wednesday, August 3rd. Three research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.91.

Snap Company Profile

(Get Rating)

Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

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Insider Buying and Selling by Quarter for Snap (NYSE:SNAP)

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