Snap Inc. (NYSE:SNAP) CAO Sells $12,102.30 in Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 1,017 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $11.90, for a total transaction of $12,102.30. Following the sale, the chief accounting officer now directly owns 308,818 shares of the company’s stock, valued at $3,674,934.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Rebecca Morrow also recently made the following trade(s):

• On Monday, October 16th, Rebecca Morrow sold 6,980 shares of Snap stock. The stock was sold at an average price of $9.59, for a total transaction of $66,938.20.
• On Monday, September 18th, Rebecca Morrow sold 1,244 shares of Snap stock. The stock was sold at an average price of $8.87, for a total transaction of $11,034.28.

Snap Price Performance

NYSE:SNAP traded up $0.25 during trading hours on Monday, reaching $12.15. 14,544,627 shares of the company’s stock were exchanged, compared to its average volume of 28,033,219. The company has a market capitalization of $20.00 billion, a P/E ratio of -14.19 and a beta of 1.20. Snap Inc. has a 12 month low of $7.86 and a 12 month high of $13.89. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.50. The business’s 50-day simple moving average is $9.65 and its two-hundred day simple moving average is $10.21.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 24th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Snap had a negative net margin of 29.99% and a negative return on equity of 44.24%. Sell-side analysts expect that Snap Inc. will post -0.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNAP. Truist Financial upped their price target on shares of Snap from $7.00 to $11.00 in a research report on Wednesday, July 26th. Citigroup upped their price objective on shares of Snap from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 27th. Morgan Stanley upped their price objective on shares of Snap from $6.50 to $7.00 and gave the company an “underweight” rating in a research report on Wednesday, October 25th. Royal Bank of Canada upped their price objective on shares of Snap from $9.00 to $10.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. Finally, Wells Fargo & Company decreased their price objective on shares of Snap from $9.00 to $8.00 in a research report on Friday, October 6th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.52.

Institutional Trading of Snap

Large investors have recently added to or reduced their stakes in the business. SRS Investment Management LLC purchased a new stake in shares of Snap in the 2nd quarter valued at approximately $623,522,000. Wellington Management Group LLP lifted its position in shares of Snap by 95.8% in the 1st quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock valued at $641,028,000 after acquiring an additional 8,712,380 shares in the last quarter. Capital World Investors lifted its position in shares of Snap by 25.7% in the 2nd quarter. Capital World Investors now owns 38,541,836 shares of the company’s stock valued at $456,335,000 after acquiring an additional 7,888,448 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Snap by 31.3% in the 1st quarter. Two Sigma Advisers LP now owns 24,618,677 shares of the company’s stock valued at $275,975,000 after acquiring an additional 5,874,300 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Snap by 136.1% in the 2nd quarter. SG Americas Securities LLC now owns 5,991,492 shares of the company’s stock valued at $70,939,000 after acquiring an additional 3,454,261 shares in the last quarter. 44.37% of the stock is currently owned by institutional investors.

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.