Snap Inc. (NYSE:SNAP) General Counsel Sells $201,977.45 in Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 12,695 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $15.91, for a total transaction of $201,977.45. Following the completion of the transaction, the general counsel now owns 1,460,617 shares in the company, valued at $23,238,416.47. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Snap Trading Up 1.8 %

NYSE:SNAP opened at $15.91 on Thursday. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76. The business’s fifty day moving average price is $12.98 and its 200 day moving average price is $13.68. Snap Inc. has a 12 month low of $8.28 and a 12 month high of $17.90.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Analysts anticipate that Snap Inc. will post -0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNAP has been the topic of a number of recent analyst reports. HSBC upgraded Snap from a “reduce” rating to a “buy” rating in a report on Friday, April 26th. Rosenblatt Securities raised their price objective on Snap from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. UBS Group reduced their price objective on shares of Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Susquehanna increased their target price on shares of Snap from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Finally, Canaccord Genuity Group boosted their price target on shares of Snap from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Snap currently has a consensus rating of “Hold” and a consensus price target of $14.79.

Institutional Trading of Snap

Institutional investors and hedge funds have recently made changes to their positions in the company. SRS Investment Management LLC increased its position in Snap by 23.6% during the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after buying an additional 12,452,415 shares during the period. Carmignac Gestion acquired a new position in shares of Snap in the 4th quarter valued at $110,103,000. Contrarius Investment Management Ltd purchased a new stake in Snap in the 4th quarter valued at $80,644,000. Vanguard Group Inc. boosted its stake in Snap by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after purchasing an additional 3,503,230 shares during the period. Finally, TB Alternative Assets Ltd. grew its position in Snap by 144.5% during the 1st quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock worth $58,488,000 after purchasing an additional 3,011,400 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.