Snap Inc (SNAP) CAO Sells $11,998.47 in Stock

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Snap Inc (NYSE:SNAP) CAO Lara Sweet sold 1,059 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $11.33, for a total value of $11,998.47. Following the transaction, the chief accounting officer now owns 581,398 shares in the company, valued at $6,587,239.34. The sale was disclosed in a document filed with the SEC, which is available at this link.

Lara Sweet also recently made the following trade(s):

  • On Wednesday, April 17th, Lara Sweet sold 60,233 shares of Snap stock. The shares were sold at an average price of $11.73, for a total value of $706,533.09.
  • On Friday, April 5th, Lara Sweet sold 22,818 shares of Snap stock. The shares were sold at an average price of $12.00, for a total value of $273,816.00.
  • On Monday, February 25th, Lara Sweet sold 22,818 shares of Snap stock. The shares were sold at an average price of $10.01, for a total value of $228,408.18.
  • On Wednesday, February 20th, Lara Sweet sold 11,701 shares of Snap stock. The shares were sold at an average price of $9.25, for a total value of $108,234.25.

Shares of NYSE SNAP traded down $0.30 during mid-day trading on Monday, reaching $11.19. 19,727,353 shares of the company’s stock were exchanged, compared to its average volume of 27,033,076. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of -11.54 and a beta of 1.17. Snap Inc has a 52 week low of $4.82 and a 52 week high of $14.47.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Snap had a negative return on equity of 47.71% and a negative net margin of 92.94%. The firm had revenue of $320.43 million during the quarter, compared to analysts’ expectations of $306.28 million. During the same period last year, the business posted ($0.17) EPS. The company’s revenue was up 38.9% compared to the same quarter last year. Equities research analysts forecast that Snap Inc will post -0.76 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Providence Capital Advisors LLC purchased a new stake in Snap in the 1st quarter worth about $32,000. TCI Wealth Advisors Inc. increased its holdings in Snap by 70.0% in the 1st quarter. TCI Wealth Advisors Inc. now owns 3,400 shares of the company’s stock worth $37,000 after acquiring an additional 1,400 shares during the last quarter. Joseph P. Lucia & Associates LLC purchased a new stake in Snap in the 1st quarter worth about $287,000. Coastal Investment Advisors Inc. purchased a new stake in Snap in the 1st quarter worth about $46,000. Finally, FNY Investment Advisers LLC increased its holdings in Snap by 306.5% in the 4th quarter. FNY Investment Advisers LLC now owns 5,000 shares of the company’s stock worth $27,000 after acquiring an additional 3,770 shares during the last quarter. 22.95% of the stock is owned by institutional investors.

Several brokerages have weighed in on SNAP. Zacks Investment Research upgraded Snap from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Monday, April 8th. SunTrust Banks restated a “hold” rating and set a $11.00 price objective on shares of Snap in a research note on Wednesday, April 24th. Canaccord Genuity raised their price objective on Snap from $9.50 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upgraded Snap from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $7.00 to $11.00 in a research note on Wednesday, April 24th. Finally, Nomura raised their price objective on Snap from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Four analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and seven have assigned a buy rating to the stock. Snap currently has an average rating of “Hold” and an average price target of $10.18.

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About Snap

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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Insider Buying and Selling by Quarter for Snap (NYSE:SNAP)

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