Snap Inc. (NYSE:SNAP) General Counsel Sells $201,977.45 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 12,695 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.91, for a total transaction of $201,977.45. Following the completion of the transaction, the general counsel now owns 1,460,617 shares of the company’s stock, valued at approximately $23,238,416.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Snap Trading Down 4.8 %

NYSE SNAP opened at $15.64 on Wednesday. The firm’s fifty day moving average is $12.90 and its two-hundred day moving average is $13.66. Snap Inc. has a one year low of $8.28 and a one year high of $17.90. The company has a debt-to-equity ratio of 1.55, a quick ratio of 3.76 and a current ratio of 3.76. The firm has a market cap of $25.67 billion, a PE ratio of -19.31 and a beta of 1.02.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. Analysts expect that Snap Inc. will post -0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNAP has been the subject of several analyst reports. Royal Bank of Canada upped their price target on Snap from $13.00 to $16.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. The Goldman Sachs Group raised their target price on shares of Snap from $13.50 to $16.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Evercore ISI boosted their price target 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. Deutsche Bank Aktiengesellschaft upgraded shares of Snap from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.00 to $19.00 in a report on Friday, January 26th. Finally, Susquehanna boosted their target price on shares of Snap from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.79.

Institutional Investors Weigh In On Snap

Large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas raised its position in Snap by 4.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 78,721 shares of the company’s stock worth $701,000 after buying an additional 3,459 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Snap by 36.9% in the third quarter. Daiwa Securities Group Inc. now owns 97,091 shares of the company’s stock valued at $865,000 after purchasing an additional 26,175 shares during the period. Banque Pictet & Cie SA purchased a new stake in Snap in the 3rd quarter valued at approximately $343,000. Principal Financial Group Inc. increased its position in Snap by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock worth $137,000 after purchasing an additional 1,025 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Snap by 6.8% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 297,525 shares of the company’s stock worth $2,651,000 after buying an additional 18,864 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Company Profile

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.