Evan Spiegel Sells 150,000 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CEO Evan Spiegel sold 150,000 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $14.35, for a total transaction of $2,152,500.00. Following the sale, the chief executive officer now owns 3,477,844 shares in the company, valued at $49,907,061.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Evan Spiegel also recently made the following trade(s):

• On Thursday, February 8th, Evan Spiegel sold 150,000 shares of Snap stock. The stock was sold at an average price of $11.11, for a total transaction of $1,666,500.00.

Snap Trading Up 5.3 %

SNAP stock opened at $15.85 on Thursday. The company has a quick ratio of 4.39, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. Snap Inc. has a twelve month low of $7.86 and a twelve month high of $17.90. The stock has a 50-day simple moving average of $11.51 and a two-hundred day simple moving average of $12.99.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. As a group, sell-side analysts predict that Snap Inc. will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. NBC Securities Inc. grew its holdings in shares of Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after purchasing an additional 1,445 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Snap during the fourth quarter worth about $51,000. Rakuten Securities Inc. purchased a new position in shares of Snap during the fourth quarter worth about $73,000. Finally, Westpac Banking Corp grew its holdings in shares of Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after purchasing an additional 2,506 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNAP. Wells Fargo & Company increased their target price on shares of Snap from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Piper Sandler increased their target price on shares of Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Evercore ISI increased their target price on shares of Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a report on Friday, April 26th. HSBC upgraded shares of Snap from a “reduce” rating to a “buy” rating in a report on Friday, April 26th. Finally, TD Cowen raised their price objective on shares of Snap from $11.00 to $14.00 and gave the company a “hold” rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Snap has an average rating of “Hold” and an average target price of $14.79.

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.