Rebecca Morrow Sells 8,837 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 8,837 shares of Snap stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $95,793.08. Following the transaction, the chief accounting officer now directly owns 429,892 shares in the company, valued at approximately $4,660,029.28. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rebecca Morrow also recently made the following trade(s):

• On Monday, December 16th, Rebecca Morrow sold 2,812 shares of Snap stock. The stock was sold at an average price of $11.44, for a total transaction of $32,169.28.
• On Tuesday, December 10th, Rebecca Morrow sold 32,000 shares of Snap stock. The shares were sold at an average price of $12.42, for a total transaction of $397,440.00.

Snap Trading Down 3.1 %

Shares of SNAP stock opened at $10.35 on Friday. The stock has a market cap of $17.55 billion, a P/E ratio of -24.63 and a beta of 0.99. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The business has a fifty day simple moving average of $11.19 and a 200-day simple moving average of $10.74.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. On average, analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after buying an additional 2,386,519 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Snap during the third quarter valued at $1,345,000. Invenomic Capital Management LP purchased a new stake in Snap during the 3rd quarter worth about $2,349,000. Jacobs Levy Equity Management Inc. raised its stake in Snap by 49.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock valued at $28,245,000 after purchasing an additional 879,212 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in Snap in the 3rd quarter valued at about $828,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Piper Sandler restated a “neutral” rating and issued a $13.00 price objective (up from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Susquehanna upped their price objective on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Evercore ISI increased their price objective on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their target price on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, February 5th. Finally, Bank of America increased their price target on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.87.

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.