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

Snap Inc. (NYSE:SNAP - Get Free Report) General Counsel Michael J. O'sullivan sold 18,000 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $9.30, for a total value of $167,400.00. Following the transaction, the general counsel now owns 456,662 shares of the company's stock, valued at approximately $4,246,956.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Snap Trading Down 0.8 %

Shares of NYSE:SNAP traded down $0.07 during midday trading on Wednesday, hitting $8.79. The company had a trading volume of 18,933,713 shares, compared to its average volume of 27,472,273. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. Snap Inc. has a 12 month low of $8.28 and a 12 month high of $17.90. The firm has a fifty day simple moving average of $12.27 and a 200 day simple moving average of $12.96. The stock has a market cap of $14.42 billion, a price-to-earnings ratio of -10.85 and a beta of 1.00.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. On average, analysts predict that Snap Inc. will post -0.48 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SNAP. Barclays reduced their target price on shares of Snap from $17.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, August 2nd. Roth Mkm reduced their price target on shares of Snap from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Friday, August 2nd. Truist Financial dropped their price objective on shares of Snap from $16.00 to $13.00 and set a "hold" rating for the company in a report on Friday, August 2nd. HSBC downgraded Snap from a "buy" rating to a "hold" rating in a report on Friday, August 2nd. Finally, Susquehanna dropped their price target on Snap from $15.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-one have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $14.10.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its holdings in Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company's stock worth $698,000 after purchasing an additional 891 shares during the period. GraniteShares Advisors LLC lifted its holdings in Snap by 2.5% during the second quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company's stock worth $634,000 after acquiring an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. grew its stake in Snap by 2.7% in the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company's stock valued at $411,000 after acquiring an additional 956 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in Snap by 3.3% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company's stock valued at $533,000 after acquiring an additional 1,000 shares during the period. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of Snap by 4.0% in the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company's stock worth $448,000 after acquiring an additional 1,048 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.