Insider Selling: Snap Inc. (NYSE:SNAP) CAO Sells 2,459 Shares of Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 2,459 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $9.29, for a total transaction of $22,844.11. Following the completion of the sale, the chief accounting officer now owns 476,218 shares in the company, valued at approximately $4,424,065.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, August 16th, Rebecca Morrow sold 8,923 shares of Snap stock. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30.

Snap Stock Up 2.7 %

Shares of SNAP traded up $0.25 on Wednesday, hitting $9.67. The company’s stock had a trading volume of 32,502,632 shares, compared to its average volume of 27,445,320. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The firm’s fifty day moving average price is $10.97 and its 200-day moving average price is $12.85. Snap Inc. has a fifty-two week low of $8.28 and a fifty-two week high of $17.90. The firm has a market capitalization of $15.87 billion, a price-to-earnings ratio of -11.89 and a beta of 1.01.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. On average, equities research analysts expect that Snap Inc. will post -0.48 EPS for the current year.

Hedge Funds Weigh In On Snap

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Snap by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock worth $1,103,786,000 after purchasing an additional 830,889 shares in the last quarter. SRS Investment Management LLC raised its stake in shares of Snap by 23.6% during the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after purchasing an additional 12,452,415 shares in the last quarter. Capital World Investors raised its stake in shares of Snap by 0.8% during the 1st quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock worth $531,206,000 after purchasing an additional 385,191 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Snap by 587.3% during the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after purchasing an additional 12,533,653 shares in the last quarter. Finally, Ossiam raised its stake in shares of Snap by 7.1% during the 1st quarter. Ossiam now owns 11,334,804 shares of the company’s stock worth $130,124,000 after purchasing an additional 751,846 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on SNAP. Barclays decreased their price target on shares of Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Argus upgraded shares of Snap to a “hold” rating in a research note on Thursday, August 8th. JMP Securities restated a “market perform” rating on shares of Snap in a research note on Wednesday. Benchmark restated a “hold” rating on shares of Snap in a research note on Tuesday, August 6th. Finally, Susquehanna reduced their target price on shares of Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.87.

About Snap

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.