Insider Selling: Snap Inc. (NYSE:SNAP) SVP Sells $1,181,811.00 in Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 112,020 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the transaction, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at $29,445,556.40. This represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Thursday, November 21st, Eric Young sold 50,000 shares of Snap stock. The stock was sold at an average price of $10.54, for a total transaction of $527,000.00.

Snap Trading Up 7.4 %

SNAP opened at $11.42 on Friday. The firm has a market capitalization of $19.15 billion, a price-to-earnings ratio of -19.66 and a beta of 0.99. The company’s 50 day simple moving average is $10.82 and its two-hundred day simple moving average is $12.54. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.90. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping 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 return on equity of 35.60% and a negative net margin of 18.49%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Analysts expect that Snap Inc. will post -0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Citigroup lowered their price target on shares of Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Hsbc Global Res lowered Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Wells Fargo & Company decreased their price target on Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 4th. HSBC cut shares of Snap from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 target price on shares of Snap in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and an average target price of $14.31.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SNAP. TB Alternative Assets Ltd. raised its stake 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 purchasing an additional 4,098,847 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Snap during the 3rd quarter valued at approximately $1,345,000. Dynamic Advisor Solutions LLC acquired a new position in Snap in the third quarter valued at approximately $832,000. Entropy Technologies LP purchased a new position in Snap in the third quarter worth approximately $828,000. Finally, Exchange Traded Concepts LLC grew its position in Snap by 38.7% in the third quarter. Exchange Traded Concepts LLC now owns 784,982 shares of the company’s stock worth $8,399,000 after acquiring an additional 219,111 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.