Snap Inc. (NYSE:SNAP - Get Free Report) General Counsel Michael J. O'sullivan sold 69,119 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $749,249.96. Following the sale, the general counsel now owns 2,332,140 shares of the company's stock, valued at approximately $25,280,397.60. This represents a 2.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Snap Stock Performance
NYSE:SNAP traded up $0.18 during trading hours on Monday, reaching $10.52. The stock had a trading volume of 12,454,282 shares, compared to its average volume of 30,467,334. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.33. The stock has a 50 day simple moving average of $11.19 and a 200 day simple moving average of $10.77. The stock has a market cap of $17.84 billion, a P/E ratio of -24.99 and a beta of 0.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95.
Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, research analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.
Institutional Investors Weigh In On Snap
Several institutional investors have recently bought and sold shares of SNAP. Mountain Hill Investment Partners Corp. bought a new stake in shares of Snap in the 4th quarter worth approximately $27,000. Advisors Asset Management Inc. boosted its stake in shares of Snap by 141.9% during the 3rd 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. Raiffeisen Bank International AG purchased a new position in shares of Snap during the fourth quarter valued at about $30,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Snap during the fourth quarter valued at about $32,000. Finally, Brooklyn Investment Group bought a new position in shares of Snap in the 3rd quarter worth approximately $41,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on SNAP. Wells Fargo & Company cut shares of Snap from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $15.00 to $11.00 in a research report on Wednesday, February 5th. B. Riley increased their target price on Snap from $11.00 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Bank of America boosted their price objective on shares of Snap from $14.00 to $14.50 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Susquehanna raised their target price on shares of Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $13.00 target price (up from $12.00) on shares of Snap in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $36.87.
Read Our Latest Analysis on Snap
About Snap
(
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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.
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