Eric Young Sells 114,097 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 114,097 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the transaction, the senior vice president now owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Snap Price Performance

SNAP opened at $9.47 on Thursday. Snap Inc. has a 1-year low of $8.28 and a 1-year high of $17.90. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $15.72 billion, a price-to-earnings ratio of -11.69 and a beta of 1.03. The business has a 50 day moving average of $13.60 and a 200-day moving average of $13.19.

Institutional Investors Weigh In On Snap

Several hedge funds have recently modified their holdings of SNAP. Steward Partners Investment Advisory LLC raised its stake in shares of Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after purchasing an additional 891 shares in the last quarter. GraniteShares Advisors LLC raised its stake in shares of Snap by 2.5% in the second quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after purchasing an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. raised its stake in shares of Snap by 2.7% in the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock valued at $411,000 after purchasing an additional 956 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of Snap by 3.3% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock valued at $533,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its stake in shares of Snap by 4.0% in the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after purchasing an additional 1,048 shares in the last quarter. 47.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group dropped their target price on Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Raymond James reiterated an “outperform” rating and issued a $16.00 target price (up previously from $15.00) on shares of Snap in a report on Friday, April 26th. Wells Fargo & Company upped their target price on Snap from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, April 26th. TD Cowen upped their target price on Snap from $11.00 to $14.00 and gave the company a “hold” rating in a report on Friday, April 26th. Finally, Evercore ISI upped their target price on Snap from $13.00 to $14.00 and gave the company an “in-line” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, twenty-one have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.10.

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.