Snap Inc. (NYSE:SNAP – Get Rating) General Counsel Michael J. O’sullivan sold 60,793 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $8.51, for a total transaction of $517,348.43. Following the transaction, the general counsel now owns 1,170,155 shares of the company’s stock, valued at approximately $9,958,019.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Snap Stock Performance
Shares of SNAP stock opened at $9.72 on Friday. The company has a current ratio of 4.71, a quick ratio of 4.71 and a debt-to-equity ratio of 1.45. Snap Inc. has a fifty-two week low of $7.33 and a fifty-two week high of $24.16. The stock has a 50 day moving average price of $10.07 and a two-hundred day moving average price of $10.05.
Analyst Ratings Changes
A number of analysts have recently commented on SNAP shares. Credit Suisse Group dropped their target price on shares of Snap from $13.00 to $11.00 in a report on Friday, April 28th. Canaccord Genuity Group reduced their target price on Snap from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, February 1st. Benchmark downgraded Snap from a “buy” rating to a “hold” rating in a research report on Wednesday, February 1st. Susquehanna raised their price objective on Snap from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 1st. Finally, Rosenblatt Securities reduced their price target on Snap from $10.00 to $9.00 in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a sell rating, thirty have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.69.
Institutional Inflows and Outflows
Snap, Inc operates as a camera company. Its flagship product, Snapchat, is a camera application that helps people communicate visually with friends and family through short videos and images called Snaps. The firm’s primary source of revenue is advertising. Snap was founded by Frank Reginald Brown IV, Evan Thomas Spiegel, and Robert C.
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