Eric Young Sells 50,000 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $10.54, for a total transaction of $527,000.00. Following the completion of the sale, the senior vice president now directly owns 752,110 shares of the company’s stock, valued at approximately $7,927,239.40. This trade represents a 6.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Eric Young also recently made the following trade(s):

• On Monday, November 18th, Eric Young sold 112,020 shares of Snap stock. The stock was sold at an average price of $10.55, for a total transaction of $1,181,811.00.

Snap Stock Up 7.4 %

SNAP stock opened at $11.42 on Monday. The firm’s fifty day simple moving average is $10.85 and its 200-day simple moving average is $12.44. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the firm posted ($0.21) earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities analysts anticipate that Snap Inc. will post -0.4 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price target on shares of Snap in a research report on Wednesday, October 30th. Argus upgraded shares of Snap to a “hold” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $14.00 price objective on shares of Snap in a research note on Wednesday, September 18th. The Goldman Sachs Group boosted their price objective on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald boosted their price objective on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.31.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNAP. Marshall Wace LLP lifted its holdings in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after purchasing an additional 12,533,653 shares in the last quarter. TB Alternative Assets Ltd. raised its position in shares of Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after buying an additional 4,098,847 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Snap by 62.4% in the third 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 during the last quarter. Discovery Capital Management LLC CT acquired a new stake in shares of Snap in the second quarter valued at about $22,591,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Snap by 49.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after buying an additional 1,297,348 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.