Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 18,000 Shares of Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total transaction of $195,120.00. Following the completion of the transaction, the general counsel now owns 498,498 shares in the company, valued at approximately $5,403,718.32. The trade was a 3.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Snap Stock Performance

SNAP opened at $11.24 on Friday. The company has a 50 day simple moving average of $11.51 and a two-hundred day simple moving average of $11.68. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a market cap of $18.85 billion, a P/E ratio of -19.38 and a beta of 0.97. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.75.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. Snap’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) EPS. Equities analysts forecast that Snap Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Snap

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. Concurrent Investment Advisors LLC grew its holdings in Snap by 4.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after buying an additional 1,048 shares in the last quarter. Metis Global Partners LLC increased its holdings in Snap by 6.9% in the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after acquiring an additional 1,255 shares during the last quarter. Intech Investment Management LLC lifted its stake in Snap by 1.9% in the 3rd quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock worth $830,000 after purchasing an additional 1,433 shares in the last quarter. MML Investors Services LLC boosted its holdings in shares of Snap by 6.8% during the 3rd quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock valued at $270,000 after purchasing an additional 1,614 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on SNAP. Wells Fargo & Company decreased their target price on shares of Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Snap in a research report on Thursday, December 5th. Canaccord Genuity Group lifted their target price on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Roth Mkm reaffirmed a “neutral” rating and set a $14.00 price target on shares of Snap in a report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 price objective on shares of Snap in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $37.10.

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.