Jeremi Gorman Sells 15,415 Shares of Snap Inc. (NYSE:SNAP) Stock

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Snap Inc. (NYSE:SNAP) insider Jeremi Gorman sold 15,415 shares of the business’s stock in a transaction that occurred on Wednesday, November 18th. The shares were sold at an average price of $39.25, for a total value of $605,038.75. Following the completion of the sale, the insider now owns 2,117,577 shares of the company’s stock, valued at approximately $83,114,897.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jeremi Gorman also recently made the following trade(s):

  • On Monday, October 19th, Jeremi Gorman sold 15,924 shares of Snap stock. The shares were sold at an average price of $28.30, for a total value of $450,649.20.

Shares of SNAP opened at $44.29 on Friday. The business’s 50-day moving average is $35.59 and its two-hundred day moving average is $25.24. The company has a market capitalization of $65.99 billion, a P/E ratio of -59.05 and a beta of 1.52. The company has a debt-to-equity ratio of 0.74, a quick ratio of 5.99 and a current ratio of 5.99. Snap Inc. has a fifty-two week low of $7.89 and a fifty-two week high of $45.60.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.19. The company had revenue of $678.67 million for the quarter, compared to the consensus estimate of $551.36 million. Snap had a negative return on equity of 49.08% and a negative net margin of 57.18%. The firm’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) EPS. Analysts forecast that Snap Inc. will post -0.71 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in SNAP. Cullen Frost Bankers Inc. boosted its stake in shares of Snap by 266.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,100 shares of the company’s stock worth $26,000 after acquiring an additional 800 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new stake in shares of Snap during the 3rd quarter worth about $26,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Snap during the 3rd quarter worth about $31,000. Jackson Square Capital LLC purchased a new stake in shares of Snap during the 2nd quarter worth about $35,000. Finally, M&R Capital Management Inc. boosted its stake in shares of Snap by 160.0% during the 3rd quarter. M&R Capital Management Inc. now owns 1,625 shares of the company’s stock worth $42,000 after acquiring an additional 1,000 shares in the last quarter. 47.00% of the stock is currently owned by institutional investors.

A number of brokerages recently issued reports on SNAP. ValuEngine upgraded Snap from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. Oppenheimer upped their target price on Snap from $28.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, October 21st. Truist upgraded Snap from a “hold” rating to a “buy” rating and upped their target price for the stock from $25.00 to $43.00 in a report on Wednesday, October 21st. Credit Suisse Group upped their target price on Snap from $32.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Snap from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, November 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $33.38.

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 called Snaps. It also provides Camera, a tool to personalize and add context to Snaps; Chat 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: Insider Trading

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

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