Jared Grusd Sells 30,875 Shares of Snap Inc (NYSE:SNAP) Stock

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Snap Inc (NYSE:SNAP) insider Jared Grusd sold 30,875 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $13.79, for a total value of $425,766.25. Following the completion of the transaction, the insider now owns 2,615,122 shares of the company’s stock, valued at $36,062,532.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Jared Grusd also recently made the following trade(s):

  • On Monday, May 20th, Jared Grusd sold 61,534 shares of Snap stock. The shares were sold at an average price of $11.31, for a total value of $695,949.54.
  • On Tuesday, April 16th, Jared Grusd sold 30,793 shares of Snap stock. The shares were sold at an average price of $11.72, for a total value of $360,893.96.

Snap stock traded down $0.19 during trading hours on Wednesday, reaching $14.67. 26,480,199 shares of the company’s stock were exchanged, compared to its average volume of 27,636,850. The company has a current ratio of 4.75, a quick ratio of 4.75 and a debt-to-equity ratio of 0.15. Snap Inc has a twelve month low of $4.82 and a twelve month high of $14.98. The company has a market cap of $18.16 billion, a P/E ratio of -15.12 and a beta of 0.84.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.23) earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $320.43 million for the quarter, compared to analyst estimates of $306.28 million. During the same quarter in the previous year, the business posted ($0.17) earnings per share. The business’s revenue was up 38.9% on a year-over-year basis. Equities research analysts forecast that Snap Inc will post -0.76 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc boosted its position in shares of Snap by 57.6% during the 3rd quarter. Vanguard Group Inc now owns 47,237,907 shares of the company’s stock worth $400,578,000 after purchasing an additional 17,260,731 shares in the last quarter. FMR LLC increased its position in shares of Snap by 2.8% during the fourth quarter. FMR LLC now owns 22,150,589 shares of the company’s stock valued at $122,050,000 after buying an additional 606,983 shares during the period. First Trust Advisors LP increased its position in shares of Snap by 4.0% during the fourth quarter. First Trust Advisors LP now owns 19,734,691 shares of the company’s stock valued at $108,738,000 after buying an additional 752,876 shares during the period. BlackRock Inc. increased its position in shares of Snap by 2.7% during the fourth quarter. BlackRock Inc. now owns 14,919,140 shares of the company’s stock valued at $82,205,000 after buying an additional 396,692 shares during the period. Finally, Hillhouse Capital Advisors Ltd. purchased a new position in shares of Snap during the fourth quarter valued at about $38,157,000. Hedge funds and other institutional investors own 26.08% of the company’s stock.

SNAP has been the subject of a number of research reports. ValuEngine upgraded Snap from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Consumer Edge initiated coverage on Snap in a research note on Tuesday, March 12th. They issued an “outperform” rating for the company. BTIG Research upgraded Snap from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Thursday, March 14th. JPMorgan Chase & Co. upgraded Snap from an “underweight” rating to a “neutral” rating and increased their price target for the company from $7.00 to $11.00 in a research note on Wednesday, April 24th. Finally, Pivotal Research upgraded Snap from a “hold” rating to a “buy” rating and increased their price objective for the company from $13.25 to $17.25 in a report on Thursday, June 6th. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $11.18.

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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.

Further Reading: What is dollar cost averaging (DCA)?

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

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