Snap Inc. (NYSE:SNAP – Get Free Report) CAO Rebecca Morrow sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $5.35, for a total value of $107,000.00. Following the completion of the transaction, the chief accounting officer owned 578,105 shares of the company’s stock, valued at approximately $3,092,861.75. The trade was a 3.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Rebecca Morrow also recently made the following trade(s):
- On Monday, August 17th, Rebecca Morrow sold 17,336 shares of Snap stock. The stock was sold at an average price of $5.20, for a total value of $90,147.20.
Snap Price Performance
SNAP opened at $5.67 on Monday. The stock has a fifty day simple moving average of $5.10 and a two-hundred day simple moving average of $5.17. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.75. The company has a market cap of $9.58 billion, a price-to-earnings ratio of -31.47 and a beta of 1.05. Snap Inc. has a 12-month low of $3.81 and a 12-month high of $9.28.
Institutional Trading of Snap
Institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP grew its holdings in shares of Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after buying an additional 1,581 shares during the last quarter. Arax Advisory Partners raised its holdings in Snap by 220.0% in the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock worth $27,000 after acquiring an additional 2,275 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Snap by 561.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after acquiring an additional 3,071 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Snap in the 3rd quarter valued at approximately $39,000. Finally, Los Angeles Capital Management LLC bought a new position in Snap in the 4th quarter valued at approximately $41,000. 47.52% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on SNAP shares. Truist Financial dropped their price objective on shares of Snap from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday, August 4th. Mizuho lifted their target price on shares of Snap from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Wall Street Zen cut Snap from a “buy” rating to a “hold” rating in a research report on Saturday. Citizens Jmp restated a “market perform” rating on shares of Snap in a research note on Tuesday, August 4th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Snap in a research report on Wednesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, twenty-four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Snap presently has an average rating of “Hold” and an average price target of $7.65.
Read Our Latest Report on Snap
Snap Company Profile
Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, text messages and augmented reality experiences, including Lenses and filters. The platform also offers Stories, Spotlight for short-form video, Snap Map and other tools for discovering and sharing content.
Snap generates most of its business through digital advertising, including advertising displayed across Snapchat’s content and communication features.
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