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.
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