Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow Sells 2,812 Shares

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 2,812 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the transaction, the chief accounting officer now owns 430,252 shares in the company, valued at $4,922,082.88. This represents a 0.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• 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 value of $397,440.00.
• On Monday, November 18th, Rebecca Morrow sold 11,154 shares of Snap stock. The shares were sold at an average price of $10.55, for a total transaction of $117,674.70.

Snap Trading Up 0.4 %

Shares of SNAP traded up $0.04 during midday trading on Wednesday, hitting $11.22. 49,316,313 shares of the stock were exchanged, compared to its average volume of 27,839,719. The firm has a market cap of $18.82 billion, a P/E ratio of -19.34 and a beta of 0.97. The stock has a fifty day simple moving average of $11.38 and a 200 day simple moving average of $11.99. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.75.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) EPS. On average, research analysts anticipate that Snap Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SNAP has been the topic of a number of research reports. UBS Group lifted their target price on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 target price on shares of Snap in a research report on Wednesday, October 30th. Loop Capital boosted their target price on shares of Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Cantor Fitzgerald increased their target price on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price objective on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Snap presently has a consensus rating of “Hold” and an average price target of $37.10.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. GraniteShares Advisors LLC grew its stake in Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after acquiring an additional 941 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Snap by 4.0% in the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after purchasing an additional 1,048 shares in the last quarter. Metis Global Partners LLC grew its position in shares of Snap by 6.9% in the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after purchasing an additional 1,255 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Snap by 1.9% during the 3rd quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock worth $830,000 after purchasing an additional 1,433 shares in the last quarter. Finally, MML Investors Services LLC lifted its stake in Snap by 6.8% in the 3rd quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock valued at $270,000 after buying an additional 1,614 shares in the last quarter. Hedge funds and other institutional investors 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.