Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow Sells 9,202 Shares

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 9,202 shares of Snap stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $8.59, for a total transaction of $79,045.18. Following the completion of the transaction, the chief accounting officer now owns 448,881 shares in the company, valued at approximately $3,855,887.79. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Rebecca Morrow also recently made the following trade(s):

• On Monday, March 17th, Rebecca Morrow sold 2,560 shares of Snap stock. The stock was sold at an average price of $8.83, for a total transaction of $22,604.80.
• On Tuesday, February 18th, Rebecca Morrow sold 8,837 shares of Snap stock. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08.

Snap Stock Down 0.7%

SNAP stock opened at $8.69 on Tuesday. The firm has a market cap of $14.52 billion, a PE ratio of -20.69 and a beta of 0.61. Snap Inc. has a 1 year low of $7.08 and a 1 year high of $17.33. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The company has a fifty day simple moving average of $8.47 and a 200 day simple moving average of $10.21.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.12). The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. Sell-side analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Snap by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company’s stock worth $953,601,000 after acquiring an additional 6,921,841 shares during the last quarter. Capital World Investors lifted its position in Snap by 38.9% during the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock worth $906,161,000 after acquiring an additional 23,569,522 shares during the last quarter. SRS Investment Management LLC lifted its position in Snap by 1.4% during the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock worth $793,998,000 after acquiring an additional 1,001,632 shares during the last quarter. Capital International Investors acquired a new position in Snap during the 4th quarter worth $422,049,000. Finally, Geode Capital Management LLC lifted its position in 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 acquiring an additional 134,017 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SNAP. Rosenblatt Securities decreased their price objective on shares of Snap from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Guggenheim reissued a “neutral” rating on shares of Snap in a research note on Wednesday, April 2nd. JMP Securities set a $12.00 target price on shares of Snap in a research note on Friday, April 25th. Citizens Jmp raised shares of Snap from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Finally, The Goldman Sachs Group decreased their target price on shares of Snap from $9.50 to $8.50 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Snap currently has an average rating of “Hold” and an average target price of $35.62.

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.