Insider Selling: Snap Inc. (NYSE:SNAP) CAO Sells 2,560 Shares of Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 2,560 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $22,604.80. Following the completion of the sale, the chief accounting officer now directly owns 427,332 shares of the company’s stock, valued at $3,773,341.56. This represents a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, February 18th, Rebecca Morrow sold 8,837 shares of Snap stock. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08.

Snap Price Performance

SNAP stock opened at $9.06 on Thursday. The company has a fifty day moving average price of $10.56 and a 200-day moving average price of $10.80. The company has a market capitalization of $15.36 billion, a P/E ratio of -21.56 and a beta of 0.92. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95.

Snap (NYSE:SNAP) last announced its 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 return on equity of 25.67% and a negative net margin of 13.02%. As a group, equities analysts expect that Snap Inc. will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Snap

A number of hedge funds have recently bought and sold shares of the company. Checchi Capital Advisers LLC raised its stake in Snap by 3.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock worth $335,000 after buying an additional 901 shares during the last quarter. HCR Wealth Advisors raised its stake in Snap by 3.9% during the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock worth $269,000 after buying an additional 934 shares during the last quarter. Captrust Financial Advisors raised its stake in Snap by 8.0% during the fourth quarter. Captrust Financial Advisors now owns 13,918 shares of the company’s stock worth $150,000 after buying an additional 1,030 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Snap by 1.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock valued at $661,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in 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 purchasing an additional 1,055 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SNAP shares. Susquehanna increased their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research 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 report on Thursday, December 5th. Bank of America increased their target price on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Wells Fargo & Company lowered shares of Snap from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $15.00 to $11.00 in a research report on Wednesday, February 5th. Finally, Citizens Jmp lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus target price of $36.87.

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.