Insider Selling: Snap Inc. (NYSE:SNAP) Director Sells 1,666 Shares of Stock

Snap Inc. (NYSE:SNAP) Director Joanna Coles sold 1,666 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $12.13, for a total transaction of $20,208.58. Following the sale, the director now directly owns 53,095 shares of the company’s stock, valued at approximately $644,042.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Joanna Coles also recently made the following trade(s):

• On Wednesday, October 30th, Joanna Coles sold 6,434 shares of Snap stock. The stock was sold at an average price of $12.00, for a total transaction of $77,208.00.

Snap Trading Down 1.2 %

Shares of NYSE SNAP opened at $11.12 on Thursday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock’s 50 day moving average price is $10.60 and its two-hundred day moving average price is $12.73. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The stock has a market capitalization of $18.65 billion, a P/E ratio of -19.17 and a beta of 0.99.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The business 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 business’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) EPS. On average, analysts anticipate that Snap Inc. will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on SNAP. Hsbc Global Res lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Morgan Stanley upgraded Snap from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $12.00 to $16.00 in a research note on Tuesday, July 23rd. Wells Fargo & Company decreased their target price on Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Canaccord Genuity Group raised their target price on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Citigroup decreased their price target on Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.31.

Institutional Trading of Snap

Institutional investors and hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in shares of Snap during the 3rd quarter valued at about $29,000. Paladin Wealth LLC bought a new position in Snap in the third quarter worth about $30,000. Advisors Asset Management Inc. boosted its stake in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after acquiring an additional 1,632 shares during the period. Hollencrest Capital Management bought a new position in shares of Snap during the second quarter valued at approximately $33,000. Finally, Blue Trust Inc. raised its position in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.

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.