Snap Inc (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 55,102 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $14.12, for a total value of $778,040.24. Following the completion of the sale, the general counsel now owns 1,673,355 shares of the company’s stock, valued at approximately $23,627,772.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
SNAP traded down $0.19 on Wednesday, reaching $14.67. The company’s stock had a trading volume of 26,480,199 shares, compared to its average volume of 27,636,850. The company has a market capitalization of $18.16 billion, a P/E ratio of -15.12 and a beta of 0.84. Snap Inc has a 1 year low of $4.82 and a 1 year high of $14.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.75 and a current ratio of 4.75.
Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The business had revenue of $320.43 million during the quarter, compared to analysts’ expectations of $306.28 million. Snap had a negative net margin of 92.94% and a negative return on equity of 47.71%. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.17) EPS. As a group, equities research analysts forecast that Snap Inc will post -0.76 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on the company. BTIG Research increased their target price on Snap from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday. Aegis upgraded Snap from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Monday. Pivotal Research upgraded Snap from a “hold” rating to a “buy” rating and increased their target price for the company from $13.25 to $17.25 in a research note on Thursday, June 6th. China Renaissance Securities assumed coverage on Snap in a research note on Wednesday, May 29th. They issued a “hold” rating and a $12.00 target price for the company. Finally, ValuEngine upgraded Snap from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and nine have assigned a buy rating to the company’s stock. Snap has an average rating of “Hold” and a consensus price target of $11.18.
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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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