Michael J. O'sullivan Sells 14,183 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP - Get Free Report) General Counsel Michael J. O'sullivan sold 14,183 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $125,235.89. Following the completion of the transaction, the general counsel now owns 2,256,101 shares of the company's stock, valued at approximately $19,921,371.83. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Snap Stock Performance

Shares of SNAP traded up $0.10 during mid-day trading on Friday, hitting $9.33. The company's stock had a trading volume of 37,520,056 shares, compared to its average volume of 25,540,393. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The firm has a market capitalization of $15.83 billion, a PE ratio of -22.22 and a beta of 0.92. The stock's 50-day moving average is $10.38 and its two-hundred day moving average is $10.77. Snap Inc. has a one year low of $8.29 and a one year high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

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Hedge Funds Weigh In On Snap

Hedge funds have recently modified their holdings of the stock. Capital World Investors boosted its holdings in Snap by 38.9% in the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company's stock valued at $906,161,000 after acquiring an additional 23,569,522 shares during the last quarter. SRS Investment Management LLC boosted its position in shares of Snap by 1.4% in the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company's stock worth $793,998,000 after purchasing an additional 1,001,632 shares during the last quarter. Capital International Investors acquired a new stake in shares of Snap during the fourth quarter worth $422,049,000. Geode Capital Management LLC grew its position in shares of Snap by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company's stock worth $127,078,000 after buying an additional 134,017 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Snap by 13.3% during 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 valued at $76,201,000 after purchasing an additional 828,285 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BMO Capital Markets reissued an "outperform" rating and issued a $16.00 price objective (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Citigroup increased their price target on shares of Snap from $13.00 to $13.50 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Wells Fargo & Company downgraded shares of Snap from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $15.00 to $11.00 in a research report on Wednesday, February 5th. Needham & Company LLC reiterated a "buy" rating and issued a $640.00 target price on shares of Snap in a research report on Thursday, December 5th. Finally, Barclays restated an "overweight" rating on shares of Snap in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target 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.