Rebecca Morrow Sells 20,000 Shares of Snap (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 20,000 shares of Snap stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $5.35, for a total value of $107,000.00. Following the transaction, the chief accounting officer owned 578,105 shares in the company, valued at approximately $3,092,861.75. The trade was a 3.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, August 17th, Rebecca Morrow sold 17,336 shares of Snap stock. The shares were sold at an average price of $5.20, for a total value of $90,147.20.

Snap Stock Up 2.6%

Shares of NYSE:SNAP opened at $5.67 on Friday. Snap Inc. has a 52-week low of $3.81 and a 52-week high of $9.28. The stock has a market cap of $9.58 billion, a P/E ratio of -31.47 and a beta of 1.05. The business has a fifty day moving average of $5.10 and a two-hundred day moving average of $5.17. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 1.75.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. Snap had a negative return on equity of 14.61% and a negative net margin of 4.90%.The company’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.16) EPS. On average, research analysts expect that Snap Inc. will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Snap

Hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC grew its position in Snap by 13.3% in the 1st quarter. Empowered Funds LLC now owns 40,393 shares of the company’s stock valued at $352,000 after acquiring an additional 4,754 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Snap during the second quarter worth about $136,000. Investment Management Corp of Ontario boosted its stake in shares of Snap by 104.0% in the second quarter. Investment Management Corp of Ontario now owns 61,513 shares of the company’s stock valued at $535,000 after purchasing an additional 31,357 shares during the period. Nebula Research & Development LLC purchased a new position in shares of Snap in the second quarter valued at approximately $1,675,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Snap by 52.0% in the second quarter. The Manufacturers Life Insurance Company now owns 89,337 shares of the company’s stock valued at $776,000 after purchasing an additional 30,561 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

SNAP has been the topic of several recent analyst reports. Cantor Fitzgerald boosted 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. DA Davidson increased their price target on shares of Snap from $5.00 to $5.25 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Benchmark restated a “hold” rating on shares of Snap in a report on Tuesday, August 4th. UBS Group set a $6.00 price target on shares of Snap in a research report on Tuesday, August 4th. Finally, Freedom Capital upgraded Snap from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.65.

About Snap

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.