Snap Inc. (NYSE:SNAP) General Counsel Sells $749,249.96 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 69,119 shares of Snap stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $749,249.96. Following the transaction, the general counsel now directly owns 2,332,140 shares of the company’s stock, valued at $25,280,397.60. The trade was a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Snap Stock Performance

Shares of Snap stock opened at $10.35 on Friday. The company has a market capitalization of $17.55 billion, a PE ratio of -24.63 and a beta of 0.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The company has a 50-day simple moving average of $11.19 and a two-hundred day simple moving average of $10.75. Snap Inc. has a one year low of $8.29 and a one year high of $17.33.

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

Institutional Investors Weigh In On Snap

A number of large investors have recently modified their holdings of the business. Forum Financial Management LP grew its stake in shares of Snap by 40.0% during the fourth quarter. Forum Financial Management LP now owns 24,571 shares of the company’s stock worth $265,000 after acquiring an additional 7,015 shares during the last quarter. Baer Investment Advisory LLC purchased a new stake in shares of Snap during the fourth quarter worth about $108,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Snap by 13.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company’s stock worth $76,201,000 after acquiring an additional 828,285 shares during the last quarter. Ursa Fund Management LLC purchased a new stake in shares of Snap during the fourth quarter worth about $108,000. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of Snap during the fourth quarter worth about $11,705,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SNAP shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 target price on shares of Snap in a research report on Wednesday, October 30th. Evercore ISI lifted their target price on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated a “neutral” rating and set a $13.00 target price (up from $12.00) on shares of Snap in a research report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $16.00 target price (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Finally, B. Riley lifted their target price on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.