Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 56,961 Shares of Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 56,961 shares of Snap stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $651,633.84. Following the completion of the sale, the general counsel now directly owns 1,127,655 shares in the company, valued at approximately $12,900,373.20. This represents a 4.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Snap Trading Up 0.4 %

Shares of NYSE:SNAP opened at $11.22 on Thursday. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.75. The business has a 50 day moving average of $11.39 and a 200-day moving average of $11.99. 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 has a market cap of $18.82 billion, a PE ratio of -19.34 and a beta of 0.97.

Snap (NYSE:SNAP) last released 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. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the company posted ($0.21) EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, equities research analysts forecast that Snap Inc. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SNAP shares. Citigroup lifted their price objective on shares of Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. The Goldman Sachs Group increased their price objective on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial raised their price objective on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus dropped their target price on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $37.10.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently modified their holdings of SNAP. Hollencrest Capital Management bought a new position in Snap during the second quarter worth about $33,000. Blue Trust Inc. grew 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 in the last quarter. Rothschild Investment LLC bought a new position in shares of Snap during the second quarter worth approximately $40,000. V Square Quantitative Management LLC acquired a new stake in shares of Snap in the third quarter valued at approximately $29,000. Finally, Paladin Wealth LLC bought a new stake in shares of Snap in the third quarter valued at approximately $30,000. Institutional investors own 47.52% of the company’s stock.

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.