Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 14,297 Shares of Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 14,297 shares of the firm’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $8.04, for a total value of $114,947.88. Following the completion of the sale, the general counsel now owns 2,097,523 shares of the company’s stock, valued at approximately $16,864,084.92. This represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Snap Stock Performance

NYSE SNAP opened at $8.24 on Thursday. The business’s 50 day moving average price is $8.31 and its 200-day moving average price is $9.76. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $17.33. The company has a market cap of $13.78 billion, a P/E ratio of -26.59 and a beta of 0.59. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.30 and a current ratio of 4.30.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the firm earned $0.03 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. Sell-side analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. NBC Securities Inc. boosted its position in Snap by 154,650.0% in the first quarter. NBC Securities Inc. now owns 3,095 shares of the company’s stock valued at $26,000 after buying an additional 3,093 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Snap in the fourth quarter worth $27,000. Raiffeisen Bank International AG acquired a new stake in shares of Snap in the fourth quarter worth $30,000. Rakuten Securities Inc. raised its holdings in shares of Snap by 155.4% during the first quarter. Rakuten Securities Inc. now owns 3,489 shares of the company’s stock worth $30,000 after purchasing an additional 2,123 shares during the last quarter. Finally, Quarry LP acquired a new position in Snap during the first quarter valued at $34,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JMP Securities set a $12.00 target price on shares of Snap in a report on Friday, April 25th. Stifel Nicolaus dropped their target price on Snap from $11.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Citigroup cut their target price on Snap from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Truist Financial dropped their price objective on Snap from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. Finally, Morgan Stanley reduced their target price on shares of Snap from $8.00 to $6.50 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.