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

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

Snap Price Performance

Shares of SNAP stock traded down $0.07 on Wednesday, hitting $8.86. 33,849,985 shares of the company’s stock were exchanged, compared to its average volume of 27,199,387. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33. 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 has a 50 day moving average of $10.06 and a 200 day moving average of $10.80. The stock has a market cap of $15.03 billion, a P/E ratio of -21.09 and a beta of 0.92.

Snap (NYSE:SNAP) last posted 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%. On average, equities research analysts predict that Snap Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on SNAP. JMP Securities reiterated a “market outperform” rating and set a $16.00 target price on shares of Snap in a research note on Monday, January 27th. Bank of America upped their price objective on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Snap in a research note on Thursday, December 5th. Citigroup lifted their target price on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $16.00 price target (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $36.80.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Checchi Capital Advisers LLC boosted its holdings in shares of Snap by 3.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock valued at $335,000 after acquiring an additional 901 shares in the last quarter. HCR Wealth Advisors boosted its stake in shares of Snap by 3.9% during the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock valued at $269,000 after purchasing an additional 934 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Snap by 8.0% during the fourth quarter. Captrust Financial Advisors now owns 13,918 shares of the company’s stock valued at $150,000 after purchasing an additional 1,030 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Snap by 1.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock worth $661,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Snap by 3.1% in the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock valued at $384,000 after buying an additional 1,055 shares during the period. 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.