Michael J. O’sullivan Sells 18,500 Shares of Snap Inc (NYSE:SNAP) Stock

Share on StockTwits

Snap Inc (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,500 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $13.76, for a total transaction of $254,560.00. Following the completion of the transaction, the general counsel now directly owns 1,528,390 shares in the company, valued at approximately $21,030,646.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of SNAP stock opened at $13.52 on Friday. The firm has a market cap of $19.01 billion, a P/E ratio of -13.94 and a beta of 1.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.53 and a quick ratio of 4.53. Snap Inc has a 1-year low of $4.82 and a 1-year high of $18.36. The firm has a fifty day moving average of $15.51 and a two-hundred day moving average of $14.14.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported ($0.19) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.02. The company had revenue of $388.02 million during the quarter, compared to analyst estimates of $358.16 million. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The firm’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period last year, the business earned ($0.14) EPS. On average, sell-side analysts expect that Snap Inc will post -0.71 EPS for the current year.

A number of equities analysts have recently commented on the stock. Susquehanna Bancshares raised shares of Snap from a “negative” rating to a “neutral” rating and raised their target price for the company from $12.00 to $18.00 in a research note on Tuesday, September 17th. Citigroup raised their target price on shares of Snap from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Morgan Stanley raised shares of Snap from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $14.00 to $17.00 in a report on Friday, October 4th. Bank of America raised shares of Snap from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of Snap from $11.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Snap currently has a consensus rating of “Hold” and an average price target of $16.48.

A number of large investors have recently modified their holdings of SNAP. Marshall Wace LLP bought a new stake in Snap in the 1st quarter valued at about $406,000. DNB Asset Management AS bought a new stake in Snap in the 2nd quarter valued at about $976,000. Gulf International Bank UK Ltd bought a new stake in Snap in the 2nd quarter valued at about $2,352,000. Valeo Financial Advisors LLC lifted its position in Snap by 400.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the company’s stock valued at $36,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Xact Kapitalforvaltning AB lifted its position in Snap by 157.1% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 123,720 shares of the company’s stock valued at $1,769,000 after purchasing an additional 75,606 shares during the last quarter. Hedge funds and other institutional investors own 26.88% of the company’s stock.

Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

Recommended Story: What is the outlook for the FAANG stocks?

Insider Buying and Selling by Quarter for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Fiverr International Ltd.  Expected to Post Earnings of -$0.16 Per Share
Fiverr International Ltd. Expected to Post Earnings of -$0.16 Per Share
Organovo  Downgraded by ValuEngine
Organovo Downgraded by ValuEngine
Bank of America Raises NVIDIA  Price Target to $275.00
Bank of America Raises NVIDIA Price Target to $275.00
Stealth BioTherapeutics  Earns Buy Rating from HC Wainwright
Stealth BioTherapeutics Earns Buy Rating from HC Wainwright
Cowen Boosts Kulicke and Soffa Industries  Price Target to $25.00
Cowen Boosts Kulicke and Soffa Industries Price Target to $25.00
Zacks Investment Research Upgrades Cannae  to “Buy”
Zacks Investment Research Upgrades Cannae to “Buy”


 
© 2006-2019 Zolmax.