Rebecca Morrow Sells 2,459 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 2,459 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $22,844.11. Following the completion of the sale, the chief accounting officer now directly owns 476,218 shares of the company’s stock, valued at approximately $4,424,065.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, August 16th, Rebecca Morrow sold 8,923 shares of Snap stock. The shares were sold at an average price of $9.10, for a total transaction of $81,199.30.

Snap Stock Up 2.7 %

SNAP traded up $0.25 during midday trading on Wednesday, hitting $9.67. 32,502,632 shares of the company’s stock traded hands, compared to its average volume of 27,445,320. The company has a market cap of $15.87 billion, a PE ratio of -11.89 and a beta of 1.01. The stock’s fifty day simple moving average is $10.97 and its 200-day simple moving average is $12.85. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. Snap Inc. has a one year low of $8.28 and a one year high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. As a group, equities analysts anticipate that Snap Inc. will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNAP. Hollencrest Capital Management bought a new position in shares of Snap in the second quarter valued at approximately $33,000. Blue Trust Inc. raised its position in shares of Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC bought a new position in shares of Snap in the second quarter valued at approximately $40,000. J.Safra Asset Management Corp raised its position in shares of Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after purchasing an additional 2,330 shares during the period. Finally, JTC Employer Solutions Trustee Ltd bought a new position in shares of Snap in the first quarter valued at approximately $100,000. Institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

SNAP has been the topic of a number of research analyst reports. Truist Financial reduced their price objective on shares of Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Barclays lowered their target price on shares of Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Susquehanna lowered their target price on shares of Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Cantor Fitzgerald started coverage on shares of Snap in a research note on Thursday, September 5th. They set a “neutral” rating and a $8.00 target price on the stock. Finally, Wolfe Research started coverage on shares of Snap in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Snap has a consensus rating of “Hold” and an average target price of $13.87.

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.