Snap Inc. (NYSE:SNAP) SVP Sells $1,107,327.68 in Stock

Snap Inc. (NYSE:SNAP) SVP Eric Young sold 102,152 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the sale, the senior vice president now directly owns 3,443,419 shares in the company, valued at $37,326,661.96. The trade was a 2.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Snap Stock Performance

SNAP stock traded down $0.11 during midday trading on Thursday, reaching $10.68. 15,947,716 shares of the company’s stock traded hands, compared to its average volume of 31,435,543. The stock’s 50-day moving average is $11.21 and its 200 day moving average is $10.73. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a market cap of $18.11 billion, a P/E ratio of -25.42 and a beta of 0.99. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.33.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Snap

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mountain Hill Investment Partners Corp. bought a new position in shares of Snap during the fourth quarter worth $27,000. Advisors Asset Management Inc. boosted its position in shares of Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after acquiring an additional 1,632 shares during the last quarter. Raiffeisen Bank International AG bought a new position in shares of Snap during the fourth quarter worth $30,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Snap during the fourth quarter worth $32,000. Finally, Brooklyn Investment Group bought a new position in shares of Snap during the third quarter worth $41,000. Institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SNAP. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Snap in a research note on Thursday, December 5th. Citigroup upped their target price on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Bank of America upped their target price on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. dropped their target price on shares of Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 5th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $16.00 target price on shares of Snap in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $36.87.

About Snap

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.