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 Snap stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.31, for a total value of $221,580.00. Following the sale, the general counsel now owns 471,058 shares of the company's stock, valued at approximately $5,798,723.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Snap Price Performance

Shares of NYSE SNAP traded down $0.41 during midday trading on Monday, reaching $12.12. The stock had a trading volume of 22,827,506 shares, compared to its average volume of 27,682,445. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.98 and a current ratio of 4.04. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.90. The stock has a 50-day moving average of $10.18 and a 200-day moving average of $12.73. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of -20.97 and a beta of 0.99.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business's quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) earnings per share. As a group, research analysts anticipate that Snap Inc. will post -0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SNAP shares. JPMorgan Chase & Co. decreased their target price on shares of Snap from $13.00 to $11.00 and set an "underweight" rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group increased their target price on shares of Snap from $12.00 to $13.50 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Wolfe Research began coverage on Snap in a report on Tuesday, July 16th. They issued a "peer perform" rating for the company. Cantor Fitzgerald boosted their target price on Snap from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Finally, Evercore ISI raised their price target on Snap from $12.00 to $15.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $14.25.

Hedge Funds Weigh In On Snap

Several large investors have recently modified their holdings of the stock. United Bank purchased a new stake in Snap in the third quarter worth about $177,000. Concurrent Investment Advisors LLC boosted its position in Snap by 8.3% during the third quarter. Concurrent Investment Advisors LLC now owns 29,227 shares of the company's stock worth $313,000 after purchasing an additional 2,229 shares in the last quarter. Forum Financial Management LP increased its holdings in Snap by 49.2% in the 3rd quarter. Forum Financial Management LP now owns 17,556 shares of the company's stock worth $188,000 after acquiring an additional 5,793 shares in the last quarter. Westbourne Investment Advisors Inc. increased its stake in shares of Snap by 3.7% during the third quarter. Westbourne Investment Advisors Inc. now owns 336,837 shares of the company's stock worth $3,604,000 after purchasing an additional 11,958 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Snap by 150.1% during the 3rd quarter. Van ECK Associates Corp now owns 73,295 shares of the company's stock worth $744,000 after purchasing an additional 43,994 shares during the last quarter. Institutional investors own 47.52% of the company's stock.

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.

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.