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 firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total value of $195,120.00. Following the completion of the sale, the general counsel now directly owns 498,498 shares in the company, valued at approximately $5,403,718.32. This represents a 3.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Snap Stock Up 6.5 %

Shares of NYSE:SNAP opened at $11.97 on Friday. The business’s 50-day moving average is $11.54 and its 200-day moving average is $11.65. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.75. The company has a market capitalization of $20.08 billion, a price-to-earnings ratio of -20.64 and a beta of 0.97. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned ($0.21) earnings per share. Equities research analysts predict that Snap Inc. will post -0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNAP has been the subject of several recent analyst reports. UBS Group upped their price objective on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price objective on shares of Snap in a research note on Wednesday, October 30th. Benchmark reaffirmed a “hold” rating on shares of Snap in a research note on Friday, October 25th. Citigroup upped their price target on shares of Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Finally, Truist Financial raised their price objective on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Snap has a consensus rating of “Hold” and an average price target of $37.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SNAP. Concurrent Investment Advisors LLC raised its holdings in shares of Snap by 4.0% during 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 during the period. Metis Global Partners LLC increased its position in Snap by 6.9% in the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after buying an additional 1,255 shares in the last quarter. Intech Investment Management LLC raised its stake in 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 buying an additional 1,433 shares during the period. MML Investors Services LLC boosted its holdings in Snap by 6.8% in the third quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock worth $270,000 after acquiring an additional 1,614 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after acquiring an additional 1,632 shares during the period. 47.52% of the stock is owned by institutional investors.

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.