Eric Young Sells 102,152 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 102,152 shares of Snap stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $1,107,327.68. Following the transaction, the senior vice president now owns 3,443,419 shares of the company’s stock, valued at $37,326,661.96. The trade was a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Snap Stock Performance

NYSE:SNAP opened at $10.35 on Friday. The stock has a 50-day simple moving average of $11.19 and a two-hundred day simple moving average of $10.75. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The firm has a market capitalization of $17.55 billion, a PE ratio of -24.63 and a beta of 0.99.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Analysts forecast that Snap Inc. will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Snap

Several large investors have recently made changes to their positions in the business. Forum Financial Management LP lifted its position in shares of Snap by 40.0% in the fourth quarter. Forum Financial Management LP now owns 24,571 shares of the company’s stock valued at $265,000 after acquiring an additional 7,015 shares in the last quarter. Baer Investment Advisory LLC purchased a new position in shares of Snap in the fourth quarter valued at about $108,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Snap by 13.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company’s stock valued at $76,201,000 after acquiring an additional 828,285 shares in the last quarter. Ursa Fund Management LLC purchased a new position in shares of Snap in the fourth quarter valued at about $108,000. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Snap in the fourth quarter valued at about $11,705,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNAP has been the subject of a number of recent research reports. Piper Sandler reiterated a “neutral” rating and set a $13.00 price objective (up previously from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Barclays reissued an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. BMO Capital Markets reissued an “outperform” rating and issued a $16.00 target price (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. Loop Capital lifted their target price on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald lifted their target price on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.87.

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.