Insider Selling: Snap Inc (NYSE:SNAP) Insider Sells 22,574 Shares of Stock

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Snap Inc (NYSE:SNAP) insider Jared Grusd sold 22,574 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $18.23, for a total value of $411,524.02. Following the transaction, the insider now directly owns 2,192,687 shares in the company, valued at $39,972,684.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Tuesday, January 21st, Jared Grusd sold 38,960 shares of Snap stock. The shares were sold at an average price of $19.03, for a total value of $741,408.80.
  • On Monday, December 16th, Jared Grusd sold 30,426 shares of Snap stock. The shares were sold at an average price of $15.13, for a total value of $460,345.38.
  • On Monday, November 18th, Jared Grusd sold 29,307 shares of Snap stock. The shares were sold at an average price of $14.51, for a total value of $425,244.57.

Snap stock opened at $19.10 on Thursday. The stock’s 50 day simple moving average is $16.34 and its two-hundred day simple moving average is $15.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 7.25 and a current ratio of 7.25. The stock has a market cap of $26.75 billion, a price-to-earnings ratio of -26.53 and a beta of 1.11. Snap Inc has a fifty-two week low of $5.87 and a fifty-two week high of $19.53.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.14. The business had revenue of $446.20 million for the quarter, compared to analysts’ expectations of $436.00 million. Snap had a negative return on equity of 44.16% and a negative net margin of 63.75%. The business’s revenue was up 49.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) EPS. On average, analysts predict that Snap Inc will post -0.69 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the business. Cascade Investment Advisors Inc. boosted its position in Snap by 60.3% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 2,325 shares of the company’s stock valued at $37,000 after acquiring an additional 875 shares in the last quarter. Private Advisor Group LLC boosted its position in Snap by 5.5% during the 2nd quarter. Private Advisor Group LLC now owns 18,025 shares of the company’s stock valued at $258,000 after acquiring an additional 938 shares in the last quarter. D.A. Davidson & CO. boosted its position in Snap by 9.8% during the 3rd quarter. D.A. Davidson & CO. now owns 16,836 shares of the company’s stock valued at $266,000 after acquiring an additional 1,500 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Snap by 7.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 27,689 shares of the company’s stock valued at $437,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Optimum Investment Advisors purchased a new position in shares of Snap during the third quarter valued at approximately $32,000. 32.79% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on SNAP shares. Loop Capital raised Snap from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Monday, November 25th. Credit Suisse Group raised their price objective on Snap from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Jefferies Financial Group raised Snap from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Thursday, January 9th. UBS Group raised Snap from a “neutral” rating to a “buy” rating and raised their target price for the stock from $16.00 to $24.00 in a research note on Friday, January 17th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $21.00 target price on shares of Snap in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twenty-two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $18.45.

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.

Further Reading: What is the quiet period?

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

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