Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 24,000 Shares

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 24,000 shares of Snap stock in a transaction on Monday, March 31st. The stock was sold at an average price of $8.60, for a total value of $206,400.00. Following the sale, the general counsel now owns 507,660 shares in the company, valued at $4,365,876. The trade was a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Snap Price Performance

NYSE:SNAP opened at $8.86 on Thursday. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.33. The stock has a fifty day moving average of $10.06 and a 200 day moving average of $10.80. 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 $15.03 billion, a price-to-earnings ratio of -21.09 and a beta of 0.92.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (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.

Institutional Investors Weigh In On Snap

Hedge funds have recently bought and sold shares of the stock. Mountain Hill Investment Partners Corp. purchased a new position in shares of Snap during the 4th quarter valued at about $27,000. Raiffeisen Bank International AG bought a new position in shares of Snap during the 4th quarter valued at $30,000. Comprehensive Financial Planning Inc. PA purchased a new position in Snap in the 4th quarter worth $32,000. Osterweis Capital Management Inc. bought a new stake in Snap in the fourth quarter worth $43,000. Finally, Blue Trust Inc. boosted its position in Snap by 128.0% during the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock valued at $47,000 after buying an additional 2,453 shares during the period. 47.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Susquehanna raised their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company lowered their price target on shares of Snap from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday. Citizens Jmp raised Snap from a “hold” rating to a “strong-buy” rating in a report on Friday, March 28th. Finally, Barclays reissued an “overweight” rating on shares of Snap in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.80.

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.