Insider Selling: Snap Inc. (NYSE:SNAP) Director Sells 1,666 Shares of Stock

Snap Inc. (NYSE:SNAP) Director Joanna Coles sold 1,666 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $12.13, for a total transaction of $20,208.58. Following the completion of the sale, the director now directly owns 53,095 shares of the company’s stock, valued at $644,042.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Joanna Coles also recently made the following trade(s):

• On Wednesday, October 30th, Joanna Coles sold 6,434 shares of Snap stock. The stock was sold at an average price of $12.00, for a total transaction of $77,208.00.

Snap Stock Down 1.2 %

Shares of NYSE:SNAP traded down $0.14 during midday trading on Wednesday, reaching $11.12. The company’s stock had a trading volume of 20,574,602 shares, compared to its average volume of 27,803,623. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The firm has a 50 day moving average of $10.60 and a 200-day moving average of $12.73. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.90. The firm has a market capitalization of $18.65 billion, a P/E ratio of -19.17 and a beta of 0.99.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company posted ($0.21) earnings per share. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. On average, research analysts anticipate that Snap Inc. will post -0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management purchased a new stake in Snap in the second quarter worth about $33,000. Blue Trust Inc. grew its holdings in shares of Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after buying an additional 1,682 shares in the last quarter. Rothschild Investment LLC purchased a new position in Snap during the second quarter worth about $40,000. V Square Quantitative Management LLC acquired a new stake in Snap in the 3rd quarter valued at approximately $29,000. Finally, Paladin Wealth LLC acquired a new position in Snap during the 3rd quarter worth $30,000. Institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SNAP shares. Cantor Fitzgerald lifted their price objective on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Barclays decreased their price target on Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. JMP Securities lowered their price target on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $14.31.

Snap Company Profile

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.