Snap Inc (NYSE:SNAP) CEO Evan Spiegel Sells 1,537,712 Shares

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Snap Inc (NYSE:SNAP) CEO Evan Spiegel sold 1,537,712 shares of Snap stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $14.62, for a total transaction of $22,481,349.44. Following the transaction, the chief executive officer now directly owns 63,866,549 shares in the company, valued at $933,728,946.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Snap stock traded up $0.08 during mid-day trading on Wednesday, reaching $15.00. 11,197,051 shares of the company traded hands, compared to its average volume of 27,724,244. The company has a debt-to-equity ratio of 0.50, a current ratio of 7.25 and a quick ratio of 7.25. The firm’s 50 day moving average price is $14.55 and its 200 day moving average price is $14.87. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of -15.46 and a beta of 1.09. Snap Inc has a 52-week low of $4.82 and a 52-week high of $18.36.

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

Institutional investors have recently modified their holdings of the business. Stephens Inc. AR purchased a new position in Snap during the 3rd quarter valued at $182,000. Aperio Group LLC boosted its holdings in shares of Snap by 199.6% during the 2nd quarter. Aperio Group LLC now owns 35,988 shares of the company’s stock valued at $515,000 after buying an additional 23,976 shares in the last quarter. Carlson Capital Management boosted its holdings in shares of Snap by 16.8% during the 3rd quarter. Carlson Capital Management now owns 21,163 shares of the company’s stock valued at $334,000 after buying an additional 3,045 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Snap by 41.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 842,232 shares of the company’s stock valued at $12,044,000 after buying an additional 246,345 shares in the last quarter. Finally, Atria Investments LLC bought a new stake in shares of Snap during the 2nd quarter valued at $560,000. 32.78% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on the stock. Nomura lifted their price target on shares of Snap from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Susquehanna Bancshares raised shares of Snap from a “negative” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $18.00 in a research note on Tuesday, September 17th. Guggenheim raised shares of Snap from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Tuesday, September 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 target price on shares of Snap in a research note on Monday, October 7th. Finally, Bank of America reaffirmed a “buy” rating and issued a $18.00 target price on shares of Snap in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, twenty have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $16.99.

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.

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

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