Snap Inc (NYSE:SNAP) General Counsel Michael J. O’sullivan Sells 55,102 Shares

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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.

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in Snap by 8.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 18,403 shares of the company’s stock worth $203,000 after buying an additional 1,450 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in Snap during the 1st quarter worth approximately $115,000. Geode Capital Management LLC lifted its holdings in Snap by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 4,810,361 shares of the company’s stock worth $26,505,000 after buying an additional 208,932 shares during the last quarter. Ffcm LLC bought a new position in Snap during the 4th quarter worth approximately $92,000. Finally, Meitav Dash Investments Ltd. bought a new position in Snap during the 1st quarter worth approximately $123,000. 26.08% of the stock is owned by hedge funds and other institutional investors.

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.

See Also: Why do companies engage in swaps?

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

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