Insider Selling: Snap Inc. (NYSE:SNAP) General Counsel Sells 12,315 Shares of Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 12,315 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.54, for a total transaction of $129,800.10. Following the transaction, the general counsel now directly owns 1,195,567 shares of the company’s stock, valued at $12,601,276.18. This represents a 1.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Snap Stock Up 0.9 %

Snap stock opened at $10.60 on Thursday. The business has a 50-day moving average of $10.79 and a 200-day moving average of $12.55. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.21) earnings per share. As a group, sell-side analysts expect that Snap Inc. will post -0.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNAP. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 target price on shares of Snap in a report on Wednesday, October 30th. Benchmark reissued a “hold” rating on shares of Snap in a report on Friday, October 25th. The Goldman Sachs Group upped their target price on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Roth Mkm restated a “neutral” rating and issued a $14.00 price target on shares of Snap in a research report on Wednesday, September 18th. Finally, Bank of America boosted their target price on Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.31.

Institutional Trading of Snap

Several hedge funds have recently bought and sold shares of SNAP. V Square Quantitative Management LLC acquired a new position in shares of Snap in the third quarter valued at approximately $29,000. Paladin Wealth LLC bought a new stake in Snap in the 3rd quarter valued at $30,000. Advisors Asset Management Inc. boosted its stake in Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares during the period. Hollencrest Capital Management bought a new position in Snap during the 2nd quarter worth about $33,000. Finally, Blue Trust Inc. raised its stake in shares of Snap by 354.1% in the 2nd 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. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.