Snap Inc. (NYSE:SNAP - Get Free Report) General Counsel Michael J. O'sullivan sold 24,000 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $8.60, for a total transaction of $206,400.00. Following the completion of the transaction, the general counsel now owns 507,660 shares in the company, valued at $4,365,876. This represents a 4.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Snap Trading Down 0.8 %
NYSE SNAP opened at $8.86 on Thursday. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33. 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's fifty day moving average price is $10.06 and its 200-day moving average price is $10.80. The stock has a market cap of $15.03 billion, a P/E ratio of -21.09 and a beta of 0.92.
Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data 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 net margin of 13.02% and a negative return on equity of 25.67%. As a group, equities analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on SNAP shares. Citigroup raised their price target on shares of Snap from $13.00 to $13.50 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. JMP Securities reissued a "market outperform" rating and issued a $16.00 target price on shares of Snap in a research note on Monday, January 27th. Wells Fargo & Company lowered their price target on Snap from $11.00 to $9.00 and set an "equal weight" rating for the company in a research report on Monday. Guggenheim reiterated a "neutral" rating on shares of Snap in a research report on Wednesday. Finally, BMO Capital Markets reissued an "outperform" rating and set a $16.00 target price (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $36.80.
View Our Latest Stock Report on SNAP
Institutional Investors Weigh In On Snap
Several institutional investors and hedge funds have recently made changes to their positions in SNAP. Capital International Investors bought a new position in Snap in the 4th quarter valued at approximately $422,049,000. Capital World Investors lifted its holdings in shares of Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company's stock valued at $906,161,000 after purchasing an additional 23,569,522 shares in the last quarter. Norges Bank purchased a new stake in shares of Snap during the fourth quarter valued at $30,162,000. Renaissance Technologies LLC bought a new stake in Snap in the 4th quarter worth about $27,713,000. Finally, Portolan Capital Management LLC purchased a new position in Snap in the 4th quarter worth about $25,447,000. Institutional investors own 47.52% of the company's stock.
Snap Company Profile
(
Get Free Report)
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.
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