Snap Inc (NYSE:SNAP) Director Michael Lynton sold 58,668 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $11.00, for a total value of $645,348.00. Following the transaction, the director now directly owns 126,817 shares in the company, valued at approximately $1,394,987. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of SNAP stock traded down $0.12 during trading on Friday, reaching $11.16. 51,633,072 shares of the company’s stock were exchanged, compared to its average volume of 29,222,752. The firm has a market capitalization of $13.05 billion, a PE ratio of -11.51 and a beta of 1.14. Snap Inc has a twelve month low of $4.82 and a twelve month high of $17.24.
Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.15. The business had revenue of $389.82 million during the quarter, compared to the consensus estimate of $378.90 million. Snap had a negative return on equity of 46.90% and a negative net margin of 106.39%. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.13) EPS. As a group, research analysts predict that Snap Inc will post -0.69 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC boosted its stake in Snap by 306.5% in the 4th quarter. FNY Investment Advisers LLC now owns 5,000 shares of the company’s stock valued at $27,000 after purchasing an additional 3,770 shares during the period. Edge Wealth Management LLC boosted its stake in Snap by 1,173.7% in the 4th quarter. Edge Wealth Management LLC now owns 5,426 shares of the company’s stock valued at $30,000 after purchasing an additional 5,000 shares during the period. Atlas Capital Advisors LLC bought a new stake in Snap in the 4th quarter valued at $41,000. Wedbush Securities Inc. bought a new stake in Snap in the 4th quarter valued at $55,000. Finally, Sigma Planning Corp bought a new stake in Snap in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 23.31% of the company’s stock.
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Snap Company Profile
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.
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