Michael J. O’sullivan Sells 18,000 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $11.89, for a total transaction of $214,020.00. Following the transaction, the general counsel now directly owns 464,009 shares in the company, valued at approximately $5,517,067.01. The trade was a 3.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Snap Trading Up 6.3 %

NYSE:SNAP traded up $0.76 on Tuesday, hitting $12.87. 37,612,348 shares of the stock were exchanged, compared to its average volume of 27,683,334. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.90. The stock has a fifty day moving average of $11.08 and a 200-day moving average of $12.26. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a market cap of $21.59 billion, a PE ratio of -22.17 and a beta of 0.97.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) earnings per share. As a group, equities analysts expect that Snap Inc. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Snap

Several large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Snap by 62.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after buying an additional 2,386,519 shares in the last quarter. TB Alternative Assets Ltd. grew its holdings in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after acquiring an additional 4,098,847 shares during the period. Aigen Investment Management LP acquired a new stake in Snap in the 3rd quarter valued at about $1,345,000. Dynamic Advisor Solutions LLC bought a new position in shares of Snap during the 3rd quarter valued at about $832,000. Finally, Entropy Technologies LP acquired a new position in shares of Snap in the 3rd quarter worth approximately $828,000. Institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

SNAP has been the topic of several recent analyst reports. Bank of America upped their price target on Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Evercore ISI boosted their target price on Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lowered their price target on Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Finally, Cantor Fitzgerald boosted their price objective on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Snap has an average rating of “Hold” and an average price target of $13.91.

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.