Insider Selling: Snap Inc. (NYSE:SNAP) General Counsel Sells 18,000 Shares of Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the sale, the general counsel now owns 489,058 shares of the company’s stock, valued at $5,286,716.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Snap Trading Up 4.5 %

NYSE:SNAP traded up $0.46 during trading hours on Wednesday, hitting $10.89. The company had a trading volume of 22,104,277 shares, compared to its average volume of 27,510,615. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The stock has a 50-day moving average price of $9.95 and a 200 day moving average price of $12.77. The company has a market capitalization of $17.86 billion, a PE ratio of -13.44 and a beta of 1.00. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. On average, equities research analysts predict that Snap Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SNAP shares. B. Riley started coverage on shares of Snap in a report on Friday, September 20th. They set a “neutral” rating and a $11.00 price objective for the company. JMP Securities reaffirmed a “market perform” rating on shares of Snap in a research note on Wednesday, September 18th. Truist Financial cut their price objective on Snap from $16.00 to $13.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Argus upgraded Snap to a “hold” rating in a research report on Thursday, August 8th. Finally, Wolfe Research began coverage on shares of Snap in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.00.

Institutional Trading of Snap

Several large investors have recently bought and sold shares of SNAP. APG Asset Management N.V. boosted its holdings in shares of Snap by 3.9% during the 2nd quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock valued at $45,835,000 after buying an additional 112,135 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Snap by 72.7% in the fourth quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after purchasing an additional 4,679 shares during the period. Alta Park Capital LP bought a new position in shares of Snap during the fourth quarter valued at approximately $13,845,000. Quadrature Capital Ltd purchased a new position in shares of Snap during the first quarter valued at approximately $3,233,000. Finally, Marshall Wace LLP boosted its position in shares of Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after purchasing an additional 12,533,653 shares in the last quarter. 47.52% of the stock is owned by 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.