Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 69,119 Shares of Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 69,119 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $749,249.96. Following the sale, the general counsel now owns 2,332,140 shares of the company’s stock, valued at approximately $25,280,397.60. This trade represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Snap Stock Down 1.0 %

SNAP opened at $10.68 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The company’s 50-day moving average is $11.21 and its 200 day moving average is $10.73. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share 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%. As a group, research analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on SNAP shares. Citizens Jmp cut shares of Snap from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price target on shares of Snap in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, February 5th. Loop Capital raised their price target on shares of Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald raised their price target on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $36.87.

Institutional Trading of Snap

Several hedge funds have recently added to or reduced their stakes in the stock. Forum Financial Management LP raised its position in Snap by 40.0% in the fourth quarter. Forum Financial Management LP now owns 24,571 shares of the company’s stock worth $265,000 after acquiring an additional 7,015 shares during the period. Baer Investment Advisory LLC purchased a new position in shares of Snap in the fourth quarter worth about $108,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Snap by 13.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company’s stock worth $76,201,000 after purchasing an additional 828,285 shares in the last quarter. Ursa Fund Management LLC purchased a new position in shares of Snap in the fourth quarter worth about $108,000. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Snap in the fourth quarter worth about $11,705,000. Institutional investors own 47.52% of the company’s stock.

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.