Michael J. O’sullivan Sells 18,000 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $16.56, for a total transaction of $298,080.00. Following the completion of the transaction, the general counsel now owns 481,908 shares in the company, valued at $7,980,396.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Snap Stock Down 3.1 %

SNAP opened at $15.75 on Thursday. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76. The firm has a 50 day simple moving average of $15.68 and a 200 day simple moving average of $14.17. Snap Inc. has a fifty-two week low of $8.28 and a fifty-two week high of $17.90.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.10. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Equities research analysts anticipate that Snap Inc. will post -0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Snap

Large investors have recently bought and sold shares of the company. NBC Securities Inc. increased its stake in Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after purchasing an additional 1,445 shares in the last quarter. Allworth Financial LP increased its stake in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in Snap in the fourth quarter valued at approximately $51,000. Rakuten Securities Inc. bought a new stake in Snap in the fourth quarter valued at approximately $73,000. Finally, Westpac Banking Corp increased its stake in Snap by 108.7% in the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after purchasing an additional 2,506 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays boosted their price target on shares of Snap from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Morgan Stanley boosted their price target on shares of Snap from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Friday, April 26th. Rosenblatt Securities boosted their price target on shares of Snap from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Truist Financial boosted their price target on shares of Snap from $12.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $16.00 target price (up from $15.00) on shares of Snap in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.82.

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.