Insider Selling: Snap Inc. (NYSE:SNAP) General Counsel Sells $298,080.00 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $16.56, for a total value of $298,080.00. Following the sale, the general counsel now owns 481,908 shares of the company’s stock, valued at approximately $7,980,396.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Snap Trading Down 3.1 %

Shares of Snap stock opened at $15.75 on Friday. The business’s fifty day moving average price is $15.76 and its two-hundred day moving average price is $14.18. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. Snap Inc. has a 1-year low of $8.28 and a 1-year high of $17.90.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. As a group, equities research analysts anticipate that Snap Inc. will post -0.43 EPS for the current fiscal year.

Institutional Trading of Snap

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC raised its stake in Snap by 12.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock valued at $683,000 after acquiring an additional 4,307 shares in the last quarter. Carmignac Gestion bought a new stake in shares of Snap in the 4th quarter worth $110,103,000. TCW Group Inc. bought a new stake in shares of Snap in the 4th quarter worth $275,000. V Square Quantitative Management LLC raised its stake in shares of Snap by 72.7% in the 4th quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after buying an additional 4,679 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Snap by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after buying an additional 1,352,655 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial raised their price objective on Snap from $12.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Stifel Nicolaus lifted their target price on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Raymond James reiterated an “outperform” rating and issued a $16.00 target price (up previously from $15.00) on shares of Snap in a research report on Friday, April 26th. Benchmark reiterated a “hold” rating on shares of Snap in a research report on Friday, April 26th. Finally, The Goldman Sachs Group lifted their target price on Snap from $13.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Snap has an average rating of “Hold” and a consensus price target of $14.82.

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.