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

Snap Inc. (NYSE:SNAP - Get Free Report) General Counsel Michael J. O'sullivan sold 24,000 shares of the business's stock in a transaction on 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 directly owns 507,660 shares of the company's stock, valued at $4,365,876. This trade represents a 4.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Snap Stock Performance

NYSE:SNAP traded up $0.04 during trading on Friday, reaching $8.06. The company's stock had a trading volume of 48,608,525 shares, compared to its average volume of 27,544,906. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of -19.18 and a beta of 0.92. Snap Inc. has a 12 month low of $7.66 and a 12 month 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. The firm has a 50 day moving average of $9.95 and a 200-day moving average of $10.77.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly 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%. Research analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

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Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNAP. Bank of America upped their price objective on Snap from $14.00 to $14.50 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Barclays reissued an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. JMP Securities reaffirmed a "market outperform" rating and set a $16.00 target price on shares of Snap in a research report on Monday, January 27th. Citizens Jmp raised shares of Snap from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Finally, BMO Capital Markets restated an "outperform" rating and set a $16.00 target price (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Snap presently has an average rating of "Hold" and an average target price of $36.80.

Hedge Funds Weigh In On Snap

Several institutional investors and hedge funds have recently bought and sold shares of the company. Invenomic Capital Management LP purchased a new position in shares of Snap during the 3rd quarter valued at $2,349,000. Charles Schwab Investment Management Inc. boosted its position in Snap by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock worth $71,095,000 after purchasing an additional 389,812 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Snap by 49.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company's stock valued at $28,245,000 after buying an additional 879,212 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in Snap in the 4th quarter valued at approximately $289,000. Finally, Holocene Advisors LP bought a new stake in Snap during the 3rd quarter valued at $3,436,000. 47.52% of the stock is owned by institutional investors.

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.