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 on Thursday, October 31st. The stock was sold at an average price of $12.31, for a total transaction of $221,580.00. Following the completion of the sale, the general counsel now directly owns 471,058 shares of the company’s stock, valued at $5,798,723.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Snap Price Performance

SNAP stock opened at $12.12 on Tuesday. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90. The firm has a market capitalization of $20.11 billion, a P/E ratio of -20.90 and a beta of 0.99. The company has a fifty day simple moving average of $10.23 and a two-hundred day simple moving average of $12.73. The company has a quick ratio of 3.98, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm earned ($0.21) EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Analysts anticipate that Snap Inc. will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNAP has been the subject of a number of recent research reports. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price (up previously from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Hsbc Global Res lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Susquehanna reduced their price objective on shares of Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company lowered their target price on Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Finally, Bank of America lifted their target price on Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.25.

Institutional Trading of Snap

Several institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Snap during the third quarter valued at approximately $29,000. Paladin Wealth LLC bought a new position in Snap in the 3rd quarter valued at $30,000. Hollencrest Capital Management purchased a new stake in Snap in the second quarter worth $33,000. Blue Trust Inc. boosted its stake in shares of Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of Snap in the second quarter worth about $40,000. Institutional investors own 47.52% of the company’s stock.

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.