Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 44,404 Shares

Snap Inc. (NYSE:SNAPGet Rating) General Counsel Michael J. O’sullivan sold 44,404 shares of Snap stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $11.16, for a total transaction of $495,548.64. Following the completion of the transaction, the general counsel now directly owns 613,773 shares in the company, valued at $6,849,706.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Snap Price Performance

Shares of Snap stock opened at $10.52 on Friday. Snap Inc. has a 52 week low of $7.33 and a 52 week high of $54.89. The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 1.29. The stock has a market cap of $16.97 billion, a PE ratio of -15.25 and a beta of 0.94. The company’s 50-day moving average price is $10.48 and its two-hundred day moving average price is $12.96.

Snap (NYSE:SNAPGet Rating) last released its earnings results on Thursday, October 20th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.06. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.15 billion. Snap had a negative net margin of 24.32% and a negative return on equity of 25.57%. As a group, sell-side analysts anticipate that Snap Inc. will post -0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SNAP shares. Atlantic Securities dropped their price objective on shares of Snap to $10.00 in a research note on Thursday, October 27th. Rosenblatt Securities decreased their price target on Snap from $13.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 21st. MKM Partners lowered Snap from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $15.00 to $10.00 in a research report on Friday, October 21st. Morgan Stanley cut their price target on shares of Snap from $10.00 to $7.00 and set an “underweight” rating on the stock in a report on Friday, October 21st. Finally, Canaccord Genuity Group dropped their target price on shares of Snap from $16.00 to $12.00 and set a “hold” rating for the company in a research report on Friday, October 21st. Three research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Snap has a consensus rating of “Hold” and an average price target of $14.85.

Institutional Investors Weigh In On Snap

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Snap by 21.6% in the 3rd quarter. Vanguard Group Inc. now owns 90,476,082 shares of the company’s stock worth $888,475,000 after acquiring an additional 16,046,220 shares during the last quarter. Edgewood Management LLC raised its position in shares of Snap by 9.0% during the first quarter. Edgewood Management LLC now owns 79,851,942 shares of the company’s stock worth $2,873,871,000 after purchasing an additional 6,591,367 shares during the period. Jennison Associates LLC raised its position in shares of Snap by 0.4% during the first quarter. Jennison Associates LLC now owns 34,228,424 shares of the company’s stock worth $1,231,881,000 after purchasing an additional 120,553 shares during the period. Two Sigma Advisers LP raised its position in shares of Snap by 55.7% during the third quarter. Two Sigma Advisers LP now owns 21,895,177 shares of the company’s stock worth $215,011,000 after purchasing an additional 7,831,100 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Snap by 95.8% during the first quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock worth $641,028,000 after purchasing an additional 8,712,380 shares during the period. Institutional investors and hedge funds own 51.41% of the company’s stock.

About Snap

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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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