Evan Spiegel Sells 414,781 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CEO Evan Spiegel sold 414,781 shares of the business’s stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $60.27, for a total value of $24,998,850.87. Following the completion of the sale, the chief executive officer now directly owns 44,681,317 shares of the company’s stock, valued at $2,692,942,975.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Evan Spiegel also recently made the following trade(s):

  • On Friday, June 4th, Evan Spiegel sold 411,250 shares of Snap stock. The shares were sold at an average price of $60.80, for a total value of $25,004,000.00.
  • On Wednesday, June 2nd, Evan Spiegel sold 403,784 shares of Snap stock. The shares were sold at an average price of $61.91, for a total value of $24,998,267.44.
  • On Monday, April 26th, Evan Spiegel sold 250,000 shares of Snap stock. The shares were sold at an average price of $60.63, for a total value of $15,157,500.00.

Shares of NYSE:SNAP opened at $62.63 on Friday. The company’s fifty day moving average is $58.75. The firm has a market cap of $95.42 billion, a PE ratio of -97.86 and a beta of 1.26. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 1.32. Snap Inc. has a one year low of $19.61 and a one year high of $73.59.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, April 22nd. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02. The firm had revenue of $769.58 million for the quarter, compared to analysts’ expectations of $739.61 million. Snap had a negative return on equity of 43.12% and a negative net margin of 32.90%. Snap’s quarterly revenue was up 66.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) EPS. As a group, equities analysts anticipate that Snap Inc. will post -0.48 EPS for the current year.

Institutional investors have recently modified their holdings of the business. Junson Asset Management Hong Kong Ltd purchased a new position in shares of Snap during the 1st quarter worth $4,835,000. GSA Capital Partners LLP lifted its stake in shares of Snap by 29.4% during the 1st quarter. GSA Capital Partners LLP now owns 52,867 shares of the company’s stock worth $2,764,000 after purchasing an additional 11,999 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Snap by 17.7% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,946 shares of the company’s stock worth $2,082,000 after purchasing an additional 1,946 shares during the period. Cullen Frost Bankers Inc. lifted its stake in shares of Snap by 4.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 200,912 shares of the company’s stock worth $10,505,000 after purchasing an additional 8,433 shares during the period. Finally, Strs Ohio lifted its stake in shares of Snap by 361.3% during the 1st quarter. Strs Ohio now owns 239,976 shares of the company’s stock worth $12,548,000 after purchasing an additional 187,950 shares during the period. 52.82% of the stock is currently owned by institutional investors.

Several research firms have commented on SNAP. UBS Group upped their price objective on Snap from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, February 24th. Rosenblatt Securities upped their price objective on Snap from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, March 2nd. Oppenheimer upped their price objective on Snap from $70.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, February 24th. Bank of America reaffirmed a “neutral” rating and set a $67.00 price objective (down from $78.00) on shares of Snap in a research note on Monday, March 29th. Finally, Canaccord Genuity upped their price objective on Snap from $62.00 to $76.00 and gave the company a “hold” rating in a research note on Tuesday, March 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirty have assigned a buy rating to the company’s stock. Snap presently has a consensus rating of “Buy” and an average target price of $67.33.

Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and captures video from a human perspective; and advertising products, including AR and Snap ads.

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Insider Buying and Selling by Quarter for Snap (NYSE:SNAP)

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