Insider Selling: Snap Inc. (NYSE:SNAP) CAO Sells $32,169.28 in Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 2,812 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the transaction, the chief accounting officer now owns 430,252 shares in the company, valued at approximately $4,922,082.88. The trade was a 0.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Rebecca Morrow also recently made the following trade(s):

• On Tuesday, December 10th, Rebecca Morrow sold 32,000 shares of Snap stock. The stock was sold at an average price of $12.42, for a total value of $397,440.00.
• On Monday, November 18th, Rebecca Morrow sold 11,154 shares of Snap stock. The stock was sold at an average price of $10.55, for a total value of $117,674.70.

Snap Price Performance

Snap stock opened at $11.40 on Friday. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.75. The company’s 50 day moving average price is $11.41 and its two-hundred day moving average price is $11.95. The stock has a market cap of $19.12 billion, a P/E ratio of -19.65 and a beta of 0.97. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. The business’s revenue was up 15.4% on a year-over-year basis. On average, equities analysts predict that Snap Inc. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Benchmark restated a “hold” rating on shares of Snap in a report on Friday, October 25th. JMP Securities cut their target price on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Wednesday, October 30th. Cantor Fitzgerald lifted their price target on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. Finally, Loop Capital boosted their target price on Snap from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.10.

Hedge Funds Weigh In On Snap

Several institutional investors have recently added to or reduced their stakes in SNAP. Hollencrest Capital Management purchased a new position in Snap in the second quarter valued at about $33,000. Blue Trust Inc. raised its holdings in shares of Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC bought a new position in Snap during the second quarter valued at $40,000. V Square Quantitative Management LLC bought a new position in Snap during the third quarter valued at $29,000. Finally, Paladin Wealth LLC purchased a new stake in Snap in the third quarter worth $30,000. Institutional investors own 47.52% of the company’s stock.

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.