Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow Sells 8,837 Shares

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 8,837 shares of Snap stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $95,793.08. Following the completion of the sale, the chief accounting officer now directly owns 429,892 shares of the company’s stock, valued at approximately $4,660,029.28. This represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, December 16th, Rebecca Morrow sold 2,812 shares of Snap stock. The stock was sold at an average price of $11.44, for a total value of $32,169.28.
• On Tuesday, December 10th, Rebecca Morrow sold 32,000 shares of Snap stock. The shares were sold at an average price of $12.42, for a total transaction of $397,440.00.

Snap Trading Down 3.1 %

NYSE SNAP opened at $10.35 on Friday. The company has a market capitalization of $17.55 billion, a price-to-earnings ratio of -24.63 and a beta of 0.99. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33. The company’s fifty day moving average price is $11.19 and its two-hundred day moving average price is $10.74.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, research analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SNAP. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 target price on shares of Snap in a report on Wednesday, October 30th. Citigroup lifted their price target on shares of Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Barclays restated an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. Truist Financial lifted their target price on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald lifted their price objective on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $36.87.

Hedge Funds Weigh In On Snap

Hedge funds have recently added to or reduced their stakes in the business. Capital International Investors bought a new position in shares of Snap in the 4th quarter worth about $422,049,000. Capital World Investors raised its stake in Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock worth $906,161,000 after acquiring an additional 23,569,522 shares during the period. Norges Bank bought a new position in Snap in the fourth quarter worth about $30,162,000. Renaissance Technologies LLC acquired a new position in Snap in the fourth quarter valued at approximately $27,713,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after purchasing an additional 2,386,519 shares during the last quarter. Institutional investors and hedge funds 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.