Rebecca Morrow Sells 2,560 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 2,560 shares of Snap stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $22,604.80. Following the completion of the transaction, the chief accounting officer now directly owns 427,332 shares of the company’s stock, valued at $3,773,341.56. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Rebecca Morrow also recently made the following trade(s):

• On Tuesday, February 18th, Rebecca Morrow sold 8,837 shares of Snap stock. The shares were sold at an average price of $10.84, for a total transaction of $95,793.08.

Snap Trading Down 2.9 %

Shares of Snap stock traded down $0.27 during trading on Tuesday, hitting $8.73. The stock had a trading volume of 25,157,896 shares, compared to its average volume of 25,410,531. The stock has a 50 day simple moving average of $10.56 and a 200 day simple moving average of $10.80. The company has a market capitalization of $14.80 billion, a PE ratio of -20.77 and a beta of 0.92. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. On average, research analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SNAP. Guggenheim lowered shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. Barclays reissued an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Susquehanna boosted their target price on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Citigroup boosted their target price on shares of Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Bank of America boosted their target price on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.87.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares in the last quarter. Invenomic Capital Management LP bought a new stake in Snap in the third quarter worth approximately $2,349,000. Jacobs Levy Equity Management Inc. grew its position in Snap by 49.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock worth $28,245,000 after acquiring an additional 879,212 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Snap in the fourth quarter worth approximately $289,000. Finally, Holocene Advisors LP bought a new stake in Snap in the third quarter worth approximately $3,436,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.