Snap Inc. (NYSE:SNAP) General Counsel Sells $517,348.43 in Stock

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

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in 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 purchasing an additional 16,046,220 shares during the period. Wellington Management Group LLP grew its holdings in Snap by 95.8% during the 1st quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock valued at $641,028,000 after buying an additional 8,712,380 shares in the last quarter. 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 valued at $215,011,000 after buying an additional 7,831,100 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Snap by 51.5% in the third quarter. Two Sigma Investments LP now owns 16,139,726 shares of the company’s stock worth $158,492,000 after buying an additional 5,485,640 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Snap by 78.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 6,668,371 shares of the company’s stock valued at $74,752,000 after acquiring an additional 2,937,193 shares during the last quarter. Institutional investors own 43.30% of the company’s stock.

About Snap

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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.